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4110 Authority retains full discretion as to any authorized <br /> application thereof, regardless of whether the Available Tax <br /> Increments are sufficient to reimburse the Developer in full <br /> for the above-described costs. To the extent that the <br /> Available Tax Increments are insufficient, through the final <br /> Payment Date (February 1, 2005) , to pay all amounts otherwise <br /> payable on the EDA Note, said unpaid amounts shall then cease <br /> to be any debt or obligation of the Authority whatsoever. <br /> (d) The unpaid principal of the EDA Note shall bear <br /> simple, non-compounded interest at 7 .000 per annum from the <br /> date of execution of the Certificate of Completion. Interest <br /> shall be computed on the basis of a 360-day year consisting of <br /> 12 months of 30 days each. <br /> (e) The EDA shall not endeavor to issue the EDA Note so <br /> that the interest thereon shall be exempt from federal or <br /> State income taxation, and the Parties accordingly anticipate <br /> that the EDA Note will be a "taxable" obligation. <br /> (f) The EDA Note shall be a special and limited revenue <br /> obligation Of the Authority and not a general obligation of <br /> the Authority, and only Available Tax Increments shall be used <br /> to pay the amounts otherwise due on the EDA Note. The EDA <br /> 4110 Note shall not be any obligation whatsoever of the City. <br /> (g) The Authority' s obligation to make payments on the <br /> EDA Note shall be conditioned upon the requirement that there <br /> shall not at the time have occurred and be continuing an Event <br /> of Default; provided, however, that if such Event of Default <br /> shall subsequently have been cured to the reasonable <br /> satisfaction of the Authority, such unpaid obligations shall <br /> thereupon be reinstated and thereby become due and payable. <br /> (h) The EDA Note shall be governed by and payable <br /> pursuant to the additional terms thereof, as set forth in <br /> Exhibit C. In the event of any conflict between the terms of <br /> the EDA Note and the terms of this Section 3 .2, the termsof <br /> the EDA Note shall govern. <br /> (i) Following any termination of this Agreement by the <br /> EDA pursuant to Section 5 .2 hereof, no further or unpaid <br /> amounts of the EDA Note shall then or thereafter be due and <br /> payable by the Authority under this Section or the EDA Note <br /> but shall thereupon be extinguished. <br /> Section 3 .3 . Certificate of Completion. <br /> (a) Promptly after completion of the Improvements in <br /> 4110 accordance with the provisions of this Agreement, and upon <br /> 346932.2 3-2 <br />