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such time as the Agency has received tax increment revenues of <br /> two million dollars ($2,000,OOOj which would have otherwise bees:. <br /> � allocated and paid to the County but for the establishment and <br /> operation of the tax increment financing in the redevelopment <br /> plan area. From that point and for the duration of the <br /> Redevelopment Plan, the Agency hereby waives and relinquishes to <br /> the County any right it may have under Health and Safety Code <br /> §33670(b) to that portion of the levied taxes which the County <br /> would directly be allocated and paid but for the establishment <br /> and operation of the tax increment financing in the Redevelopment <br /> Plan Area. <br /> The Agency and County hereby request and direct the County <br /> Controller and County Tax Collector to allocate and pay directly <br /> to the County, and not the Agency, that portion of the levied <br /> � taxes which the County would thereafter receive but for the <br /> establishment and operation of the tax increment financing in the <br /> Redevelopment Plan Area. <br /> 2. It is intended by the parties that by the Agency <br /> waiving its riyhts to be allocated and paid certain portions of <br /> the levied taxes, and the parties directing that such portions of <br /> the levied taxes be paid directly to the County as set forth in <br /> Paragraph 1, above, that such portions of the levied taxes be <br /> paid directly to the County, and that such portions not be con- <br /> sidered to have been received, cvnstructively or otherwise, by <br /> the Agency, or to be revenues of the Agency, or an indebtedness <br /> of the agency required to be set forth in any Agency Statement <br /> thereof filed pursuan� to Health and Safety Gode section <br /> � <br /> � 33675(b). <br /> 3 <br />