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$9~iQn 2. The partial tax relief pertaining to the Property, as approved and recommended by the Authority ohM ay 15th, 1996, and as set forth in the Parcel Development Agreement attached hereto, is hereby granted to the Developer, and its successors in title, pursuant to the provisions of Chapter 353 R.S.Mo. (1986) upon the transfer of said Property from the UCRC to the Developer. Section 3. The provisions of Section 2 hereof are expressly conditioned upon the Property being used, operated and maintained in accordance with the Redevelopment Plan now in force and effect with respect to the Property and in accordance with the Parcel Development Agreement imposed upon the Property, including but not limited to, any covenants with respect to development and use of the Property and any covenants to make payments in lieu of taxes. Section 4. The provisions of Section 2 hereof are expressly further conditioned upon the acquisition of the Property by the Developer within one year from the date of the passage of this Ordinance. Section 5. In no event shall the partial tax relief conferred herein exceed 15 years from the date of the first year of such tax relief with respect to the Property. Section 6, To the extent the tax abatement granted hereunder conflicts with Section L of the Redevelopment Plan, the Redevelopment Plan is hereby modified to authorize the tax abatement granted hereunder with respect to the Property. In all other respects and with regard to all other property in the redevelopment area, the Redevelopment Plan shall remain in full force and effect as approved by Ordinance 5580. Section 7. The City Manager is hereby authorized to execute any and all documents necessary to secure the partial tax relief granted herein or to implement this Ordinance. Section 8. The sections of this Ordinance shall be severable. In the event that any section of this Ordinance is found by a court of competent jurisdiction to be invalid or unconstitutional, the remaining sections of this Ordinance shall remain valid, unless the court finds that the valid sections of this Ordinance are so essentially and inseparably connected with and so dependent upon the void section, that it cannot be presumed that the City Council would have enacted the valid sections without the void sections; or unless the court finds that the valid sections standing alone are incomplete and are incapable of being executed in accordance with the legislative intent. $TL-415954 - 3 -