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payment of the Site Improvement Costs in at least the principal amount of the Note. The Authority shall deliver the Note upon Developer's having submitted to the Authority written evidence, in a form satisfactory to the Authority that Developer has incurred and paid Site Improvement Costs in at least the principal amount of the Note. (b) The Developer understands and acknowledges that the Authority makes no representations or warranties regarding the amount of Available Tax Increment (as defined in the Note), or that revenues pledged to the Note will be sufficient to pay the principal of the Note. Any estimates of Tax Increment prepared by the Authority or its financial advisors in connection with the TIF District or this Agreement are for the benefit of the Authority, and are not intended as representations on which the Developer may rely. Section 3.4. Payment of Administrative Costs. The Developer is responsible to pay all out of pocket costs incurred by the Authority attributable to or incurred in connection with the negotiation and preparation of this Agreement and other documents and agreements in connection with the development contemplated hereunder (collectively, "TIF Administrative Costs"). TIF Administrative Costs shall be evidenced by invoices, statements or other reasonable written evidence of the costs incurred by the Authority. Upon termination of this Agreement in accordance with its terms, Developer remains obligated to pay Administrative Costs incurred as of the effective date of termination. The parties agree and understand that the Authority expects to pay TIF Administrative costs from the escrow established under Section 4.5(e) hereof, but Developer remains obligated to pay an TIF Administrative Costs in excess of the amount held in the escrow account for such purposes. Section 3.5. Records. The Authority and its representatives shall have the right at all reasonable times after reasonable notice to inspect, examine and copy all books and records of Developer relating to the Minimum Improvements and the Development Property. Section 3.6. Business Subsidy Agreement. The provisions of this Section constitute the "business subsidy agreement" for the purposes of the Business Subsidy Act. (a) General Terms. The parties agree and represent to each other as follows: (1) The subsidy provided to the Developer consists of payments on the Note, which payments represent a forgivable loan that is repayable by the Developer in accordance with this Section. The Note is payable from a portion of the Tax Increments from the TIF District, an economic development tax increment financing district. (2) The public purposes of the subsidy are to facilitate development of the Authority's industrial park, increase net jobs in the City and the State, and increase the tax base of the City and the State. (3) The goals for the subsidy are: to secure development of the Minimum Improvements on the Development Property; to maintain such improvements as a distribution facility for the time period described in clause (6) below; and to create the jobs and wage levels in accordance with Section 3.6(b) hereof. SJB-237079v2 LN 140-81 8