(2) In the event the Sponsor challenges the Town’s efforts to invoke the
forfeiture/clawback provisions of this Agreement or to obtain revocation by the state,
or challenges any decision to revoke any certification or approval of the grant of Tax
Relief by the state, the Sponsor shall set aside in an escrow account an amount equal
to the full amount of the tax savings that previously would have accrued under the
Agreement while any such challenge remains pending. The Sponsor shall have a
continuing obligation to contribute to the escrow account amounts equal to the
additional tax savings that accrue under this Agreement while its challenge remains
pending. The Sponsor shall promptly provide to the Town documentation of its
compliance with this obligation. The conditions of the escrow account shall provide
that, in the event the Sponsor is unsuccessful in its challenge, the funds in the account
shall be paid to the Town. The Sponsor’s obligations under this subsection shall be
judicially enforceable. It is the intent of the parties to this Agreement that Amherst
Residents are third party beneficiaries of this Agreement, and that it may be enforced
in a civil proceeding brought by not less than 10 taxable inhabitants.
F. Requirements for Successors-In-Interest
The requirements of this Bylaw, including any remedies imposed herein, that are applicable
to any Contractor or Sponsor shall also be applicable to, and effective against, any successor
Contractor or Sponsor that (1) has at least 1 of the same principals or officers as the prior
Contractor or Sponsor; and (2) is engaged in the same or equivalent trade or activity as the
prior Contractor or Sponsor.