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ever collects or attempts to impose any other tax on Developer in connection with the extraction <br />or processing of aggregate (or any other aspect of Developer's aggregate business) during the term <br />hereof, then in addition to all other remedies available to Developer in equity and at law for such <br />breach of this Development Agreement, Developer shall have the option to terminate this <br />Development Agreement by providing written notice to the City of such termination, it being <br />agreed and understood that in the event the City, during the tern of this Development Agreement, <br />levies a tax in violation of the foregoing covenant that whether or not Developer elects to <br />terminate this Development Agreement, Developer will be entitled to collect damages for breach <br />of said covenant, which at a minimum will be measured by the difference between the tax that <br />would have been paid pursuant to this Development Agreement, and the total tax actually levied <br />by the City upon the Developer. <br />5.2 Commencement and Payment. Imposition of the License Tax shall begin <br />on January 1, 2001, and be paid by Developer to the City on a quarterly basis, sixty (60) days <br />after the end of each calendar quarter, beginning on May 31, 2001. <br />5.3 Reporting. Each License Tax payment shall be accompanied by the <br />following information relating to aggregate extracting and processing activity during the prior <br />quarter: <br />Property; <br />5.3.1 the tonnage of aggregate both extracted and processed at the <br />5.3.2 the tonnage of aggregate extracted at the Property and processed <br />outside the boundaries of the City; <br />5.3.3 the tonnage of aggregate processed at the Property and extracted <br />outside the boundaries of the City; <br />5.3.4 the current rate of the License Tax; <br />LAnocs�2701925 1 -6- <br />