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(b) Thereafter, for- all . years following the said initial ten (10) year period, the Developer, for itself and .on behalf of its successors and assigns, hereby elects to. pay .f.ull ,taxes. based-on _the full true value of the real property including improvements thereon. (c) Notwithstandi.ng, . . the tax, abatement provisions of Sec. 353.110 R.S. Mo.. . 1978, as amended, Developer,. its successors or assigns, shall pay annually, beginning on December 31, 1985,. taxes in_accordance with the following schedule: YEARS 1985-1994 To St. Louis. County the amount collected by St. Louis County for. the tax on. the land portion of real property. (d) In the event of the sale or other disposition of any real property of the Developer, its successors or assigns, by reason of the fore- closure of any mortgage. or other lien, through insolvency or bankruptcy proceedings, or by order of any court of competent jurisdiction or by voluntary transfer or conveyance, the partial tax xalief.. provided-for in subsection (a) of this paragraph, shall_ inure to. the. _ benefit_.of any purchaser or purchasers who shall continue to_ use, operate and. .maintain-_such. real._pr.operty in accordance with the provisions- of the Development Plana 11. (a) The net earnings of the Developer. from the project or any part thereof under separate .ownership. during the period. in which tax relief is enjoyed under paragraph 10 hereof shall be limited to. an amount not to exceed eight percent (8%) per annum of the cost to .the Developer- of the project, or such part thereof, including the cost of-the:"Ian Id .or. the_balance_ of such cost as reduced by amortization payments; provided, that the. net earnings derived from any re- development project shall in no event exceed a sum equal to eight percent (8%) per annum upon the entire cost thereof. . Such net. earnings shall be computed after deducting from gross earnings the following: 1. All costs and expenses of maintenance and operation. 2. Amounts paid for taxes, assessments, insurance premiums and other similar charges. 3. An annual amount . sufficient to amortize the cost of the entire..project at the end of the period, which shall be such number of years from date .of. completion of the project as may be permitted by law. (b) The surplus .. earnings _ _of_the . Developer, in excess of those provided for in subparagraph (a) of this paragraph may be used or held for any one or all of the following purposes: 4