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Authority in writing the book and page number wherein the Deeds are recorded. Section 4. Financing. If the Redeveloper in accor- dance with the Inducement-Resolution elects to finance the rehabilitation, improvement and equipping of the Project Area with the proceeds of the Authority's tax-exempt revenue bonds in an amount not to exceed ~2,900,000, the Redeveloper and the Authority agree to execute and deliver all such other docu- ments, including a Loan Agreement and an Indent,u~e of Trust, necessary or appropriate for the purpose of effectuating the financing contemplated by the Inducement Resolution. The Authority will cooperate with the Redeveloper to the fullest extent possible in structuring, applying, obtaining and admin- istering the financing. Section 5. Real Estate Taxes. The parties hereto intend that the real property acquired by the Redeveloper pursuant to this Agreement shall not be subject to assessment or payment of general ad valorem property taxes imposed by the County or State or any political subdivision thereof for a period of ten (10) years after the date upon which the Redeveloper becomes the owner of such real property by purchase or otherwise from the Authority, except to such extent and in such amount as may be imposed upon such real property during such period measured solely by the amount of the assessed valuation of the land, exclusive of improvements, as was determined by the Assessor of the County for taxes due and payable thereon during the calendar year preceding the calendar year in which the Redeveloper acquired such real property; and the amounts of such tax assessments shall not be increased ._durinq said period so lon~ a.~ ~h~_ r~l ~roDertv is owned by an urban redevelopment corporation or any successor in interest or assignee of a redevelopment corporation or, any subsequent transferee of any thereof whether voluntary or involuntary and is used for the purposes permitted in the Plan and this Agreement as from time to time amended. In accordance with the practice of the Assessor of the County, the assessments and tax levied under this Section commence on January 1 of the year following the year in which the Redeveloper acquires the property from the Authority and periods of partial tax release shall be measured from such January 1 with respect to such property. For the next ensuing period of ten (10) years from and after the aforesaid ten-year period, ad valorem taxes upon such real property shall be measured ~__o.%.ely~by the assessed valua- tion thereof as determined by the Assessor of the County upon the basis of not to exceed fifty percent (50%) of the true value of such real property including any improvements thereon, i.e. fifty percent (50%) of the assessed valuation of like -3-