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2.2 Developer to Advance Costs. {} <br /> TC \l2 “2.2 Developer to Advance Costs.” The <br />Developer agrees to advance all Redevelopment Project Costs as necessary to acquire the Property and to <br />complete the Work, all subject to the Developer’s right to abandon the Redevelopment Project and <br />Section 7.1 <br />terminate this Agreement as set forth in hereof. Additionally, and not by way of limitation: <br />(a)Advances under TIF Application and Preliminary Funding Agreement. The <br />Developer has heretofore advanced, pursuant to a Preliminary Funding Agreement between the <br />City and the Developer, the sum of $50,000 for certain Redevelopment Project Costs comprised <br />of planning, legal, financial, administrative and other costs associated with the Redevelopment <br />Project. The obligations of the parties under the Preliminary Funding Agreement are deemed <br />fully performed and shall be merged into and superseded by this Agreement. <br />(b)Advances Upon Execution of Agreement. Upon execution of this Agreement, the <br />Developer agrees to advance to the City the sum of $20,000 to provide for the payment of legal, <br />financial and other consultants to the extent they are not already provided for by subsection (a) <br />above. Payment of any advance under this Section will not waive any application fee or other <br />cost to the Developer associated with any Governmental Approval required by the City’s <br />municipal code. <br />(c)Advances Upon Issuance of Notes. Upon the initial issuance of TIF Notes, the <br />Developer agrees to pay to the City an amount not to exceed $38,000 for payment or <br />reimbursement of fees and expenses incurred by the City relating to such TIF Notes and any other <br />costs related to the approval of this Agreement to the extent they are not already provided for by <br />subsection (b) above. <br />(d)Return of Excess Funds. Simultaneously with the issuance of TIF Bonds, the <br />City shall remit to the Developer any amounts that have been advanced under paragraphs (a), (b) <br />or (c) and which have not been spent for costs incurred by the City pursuant to such paragraphs. <br />(e)Advances to be Reimbursable.All funds advanced by the City and the Developer <br />under this Section shall constitute Issuance Costs and as such shall represent Reimbursable <br />Redevelopment Project Costs to be reimbursed from the proceeds of TIF Obligations or otherwise <br />from TIF Revenues. <br />ARTICLE III{ TC \n \l1 “ARTICLE III” } <br />CONSTRUCTION OF THE REDEVELOPMENT PROJECT; CITY APPROVALS{ TC \n \l1 <br />“CONSTRUCTION OF THE REDEVELOPMENT PROJECT; CITY APPROVALS” } <br />3.1 Rights Regarding the RPA-1 Redevelopment Project and the RPA-2 Redevelopment <br />Project{ <br /> TC “3.1 Rights Regarding the RPA-1 Redevelopment Project and the RPA-2 <br />}. <br />Redevelopment Project.” \f C \l “3” The parties acknowledge that any rights granted hereunder are <br />only applicable to the RPA-1 Redevelopment Project until such time, and if, the City approves the RPA-2 <br />Redevelopment Project. For the purposes of this Agreement, the term “Redevelopment Project,” unless <br />otherwise specified, shall refer to (a) only the RPA-1 Redevelopment Project, if the RPA-2 <br />Redevelopment Project has not been approved by the City, or (b) the RPA-1 Redevelopment Project and <br />the RPA-2 Redevelopment Project, if the RPA-2 Redevelopment Project has been approved by the City. <br />Use of the phrase “portion of the Redevelopment Project” shall refer to either the RPA-1 Redevelopment <br />Project or RPA-2 Redevelopment Project, as applicable. <br /> <br />