NYC 9/11 Public Portal Document
computations, as well as payments of additional rent, if any, under the provisions of this Article,
shall be based on the original assessed valuation with adjustments to be made if and when the Tax
refund, if any, has been paid to Landlord.
If the assessment of the land and Building shall be reduced for the Real Estate Tax Base
Year as a result of protests of proceedings filed therefor, then the Tax base shall be amended to
the amount actually collectible by the City of New York for the base fiscal tax year on the
corrected assessment. Landlord shall use reasonable efforts to notily Tenant in writing each time
a tax assessment is challenged. This paragraph shall also apply to the Base Pilot Square Foot
Factor.
1. The term "Pilot" shall mean (i) such payments as the Port Authority has agreed
to pay the City of New York under an agreement dated 1967 as it may have been or may be
hereafter supplemented or amended (the "City Agreement") and (ii) all payments in lieu of Real
Estate Taxes or assessments which may be agreed upon between the Port Authority and any
governmental authorities (Federal, State or City, or any political subdivision thereof) other than
as provided in the City Agreement, but not any amounts in excess of those imposed under the
City Agreement.
2. The term "Pilot Square Foot Factor" shall mean the annual per rentable square
foot factor used in computing the Pilot under the City Agreement for the relevant Tax Year. If
payments under the City Agreement become payable on a basis other than an annual amount per
occupied rentable square foot (as defined in Section 5.1.7 of the Underlying Lease), then unless
such payments are separately assessed and levied or allocated to the Real Property, the Port
Authority will allocate such payments equitably on the basis of proration between the total
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NYC-WTC_000169956
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