Failure to Pay the Community Service Fee Sample Clauses

Failure to Pay the Community Service Fee. The parties acknowledge that payment of the CSF is a statutory prerequisite to approval of a partial property tax exemption. If Intel fails to pay the CSF for an Investment by the end of the tax year in which it is due, the tax exemption may be revoked as to that Investment as provided in ORS 307.123(6), and the property within that Investment will be fully taxable for the following year and for each subsequent tax year for which the fee remains unpaid. If an unpaid CSF is paid after the exemption is revoked, the property will again be eligible for the partial property tax exemption, beginning with the tax year after the payment is made. Loss of a partial tax exemption for an Investment due to Intel’s failure to pay the CSF does not relieve Intel of its obligation to make GAP payments. The failure by Intel to make a payment of the CSF due with respect to an Investment does not cause the termination of this 2014 SIP Agreement under Section 13.
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