Memorandum Dated 3 April 1986 Re the First Amendment to the Report And Decision On Post Office Square 121a Corporation

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In each year beginning with the first Operating Year, the Corporation will submit to the City, not later than ninety (90) days prior to the start to the next Operating Year, an Expense Projection for the fourth Operating Year next following. Within thirty (30) 'days of receipt of any such Expense Projection, the City will notify the Corporation that it has approved such Expense Projection, or that it objects to such Expense Projection, and the reasons for such objection. Within thirty (30) days... of receipt of any such objection, the Corporation will prepare a revised Expense Projection, taking into account, to the extent it deems appropriate, the objections raised by the City, and will re-submit such Expense Projection to the City for approval. If the City objects to any such revised - 24 - 2/11/86 Expense Projection, the parties shall promptly participate in arbitration to determine whether the Expense Projection for such year is consistent with the second sentence of Section 6.5 hereof.

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