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(DRAFT-FOR DISCUSSION PURPOSES ONLY) <br /> fu the event that the Company obtains Final Licenses, or such other license and/or approval <br /> as may be required, for the operation of the Establishments in the Town by the Massachusetts <br /> Cannabis Control Commission (the "CCC"), or such other state licensing or monitoring <br /> authority, as the case may be, and receives any and all necessary and required permits and <br /> licenses of the Town, and at the expiration of any final appeal period related thereto, said <br /> matter not being appealed further, which said permits and/or licenses allow the Company to <br /> locate, occupy and operate the .Establishment in the Town, then the Company agrees to <br /> provide the following Annual Payment for each year this Agreement is in effect; provided, <br /> however, that if the Company fails to secure any such other license and/or approval as may <br /> .; <br /> be required, or any of required municipal approvals, the Com ay shall reimburse the Town <br /> for its legal fees associated with the negotiation of this Agri <br /> a. Company shall make Annual Payments id-; `amoant equal to three percent <br /> (3%) of gross revenue from marijuana and marijuana .product sales at the <br /> Establishments, whether at wholesale under the manufacturing license to other <br /> licensed marijuana establishments (and-explicitly excluding-.sales or transfers <br /> made internally between the two licenses held by the Company) .or retail sale <br /> under the retail license. In the first year of operation, the Annual Payment shall <br /> be paid in multiple mo <br /> hly installments. The fzrst payment shape in the <br /> amount of fifty thousai ,($50,000.00) upon commencement of sales at the <br /> retail Establishment in ToWn. The subsequent payments shall be the balance of <br /> the three percent of growsa'Jes less .the initial fifty thousand ($50,000.00) <br /> payment, with said subseque' t payments,to be paid to the Town on a monthly <br /> basis. The balance of the Annual Payrn 4. shall-be duc no later than twelve (12) <br /> months after the opening date (the 0- ing Date j and shall represent 3% of <br /> gross annual revenue. <br /> b. An es_econd third, fourth and fifth years of operation: 3% of the gross sales of <br /> Apt.m'ax4ju a:and marijuana products sales at the Establishments in each year of <br /> A';­.:.,-'operation-'ala:.-be paid in two (2) six (6)month segments; the first, covering the <br /> first six (6) ri oiiths of the operating year, measured annually form the Opening <br /> Date, shall be paid within twohundred forty (240) days and the balance, <br /> covering the seconcl.six (6)months of the operating year, to be paid within sixty <br /> (60) days after the end of the year of operation. <br /> ...,.. <br /> c. With regard to&'Y'. ear of operation for the Establishment which is not a fall <br /> calendar year,thopplicable Annual Payments shall be pro-rated accordingly. <br /> 3. Payments. <br /> Company shall make the Annual Payments set forth in Paragraph 2, above, to the Town <br /> of Mashpee. To the extent permitted by law, the Treasurer of the Town may hold the <br /> 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 /> 2 <br />