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3. An annual amount sufficient to amortize the <br /> cost of the entire project at the end of the <br /> period, which shall be such number of years <br /> from date of completion of the project as <br /> may be permitted by law. <br /> (b) The surplus earnings of the Developer, in excess of those <br /> provided for in subparagraph (a) of this paragraph may be used or held for any <br /> one or all of the following purposes: <br /> 1. As reserve for maintenance of such rate of <br /> return in the future, and may be held by the <br /> Developer to offset any deficiency in such <br /> rate of return which may have occurred in <br /> prior years. <br /> 2. To accelerate amortization payments. <br /> 3. For the enlargement of the project, with the <br /> approval of the City Council. <br /> 4. For a reduction in rentals. <br /> At the termination of the tax relief provided for in paragraph <br /> 10 the Developer shall make a strict accounting of a surplus earnings in excess <br /> of those permitted hereby and shall turn over to the City any excess of such <br /> surplus earnings not previously used for one or more of the purposes set forth in <br /> subparagraphs (b), 1, 2, 3, and 4 of this paragraph 11. <br /> 12. Developer shall establish and maintain reserve accounts including, <br /> but not limited to, a reserve for the payment of taxes and insurance according to <br /> recognized standard accounting practices. <br /> 13. "Cost" as used herein shall include, among other expenses, the <br /> cost of land and improvements, interest during construction, the estimated or <br /> actual expense of demolition of existing structures, the estimated or actual <br /> expense of utilities, landscaping and roadways, the estimated or actual expense <br /> of construction equipment and furnishing of buildings and improvements including <br /> architectural, engineering and builder's fees, the estimated or actual expense of <br /> rehabilitation, remodeling, or initial repair of existing buildings and improve- <br /> ments and reasonable management and operation expenses until the project is ready <br /> for its proposed use as provided for in the approved Development Plan, together <br /> with such additional expenses incurred as a result of additions to or changes in <br /> the Development Plan where such additions or changes are appproved by ordinance. <br /> 14. The terms, conditions and provisions of this contract and of the <br /> Development Plan can be neither substantially modified nor eliminated except by <br /> mutual agreement between the City of University City and the Developer, its <br /> 7 <br /> a <br />