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(DRAFT-FOR DISCUSSION PURPOSES ONLY) <br /> no later than twelve (12) months after the g <br /> Date:')-0 enin gy Date. Any ove a,ment of the Annual Payment shall not be <br /> refundable to the Com an and shall be added to the Company's minimum <br /> obligation set forth in Section 5 below. without setting off the Com an 's <br /> agereeate obligation under such Section 5. <br /> b. In the second,third,fourth and fifth years of operation:three percent{3%to of <br /> the Company's toss revenues from sales of Li marijuana--a€A ii marijuana <br /> •r^mod-e4s sale derived product and iii ancillary ara hernalia at the <br /> Establishment in each year of operation shall be paid in two(2)six(6)month <br /> segments; the first, covering the first six (6) months of the operating year, <br /> measured annually form the respective anniversary of the Opening Date, shall <br /> be paid within two hundred forty (240) days and the balance, covering the <br /> second six(6)months of the operating year,to be paid within sixty(60) days <br /> after the end of the year of operation. <br /> c. With regard to any year of operation for the Establishment which is not a fm <br /> calendar year,the applicable Annual Payments shall be pro-rated accordingly. <br /> 3. Payments. <br /> Company shall make the Annual Payments set forth in Section 27 above,to the <br /> Town of Mashpee.To the extent permitted by law,the Treasurer of the Town may hold <br /> the Annual Payments in a.separate account,to be expended by the Town without further <br /> appropriation pursuant to G.L. c.44, §53A, or otherwise in trust, for the purposes of <br /> addressing the potential health,safety,and other effects or impacts of the Establishment . <br /> on the Town and on municipal programs, services,personnel, and facilities.Otherwise, <br /> said Annual Payments shall be deposited into the General Fund <br /> While the purpose of the Annual Payments is to assist the Town in addressing any public <br /> health,safety,and other effects or impacts the Establishment may have on the Town and <br /> on municipal programs, services, personnel, and facilities, the Town may expend the <br /> Annual Payments at its sole and absolute discretion. <br /> Notwithstanding the Annual Payments,nothing shall prevent the Company from making <br /> additional donations from time to time to causes that will support the Town, including <br /> but not limited to local drug abuse prevention/treatment/education programs. <br /> 4. Other Pa ments. <br /> Company anticipates that it will make purchases of water,and sewer(if available)from local <br /> government agencies.Company will pay any and all fees associated with the local permitting <br /> of the Establishment. If the Town receives other payments from the Company or from the <br /> Department ofRevenuc or any other source,including but not limited to taxes imposed by an, <br /> act of the legislature of the Commonwealth of Massachusetts, or a mandate from the Town <br /> for said payments,the amounts due from the Company to the Town under the terms of this <br /> Agreement shall of be reduced by the amount of such other a cuts. Formatted:Font:Not Bold <br /> 3 <br />