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• <br /> (b) the Developer's determination that any agreed upon real estate tax level on <br /> the Project upon completion of construction and occupancy will not unduly burden the ip <br /> economic feasibility of the project; <br /> (c) the determination that an adequate time schedule to govern their respective <br /> undertakings may be agreed upon between the parties; and <br /> (d) the determination by all parties, in light of all the facts and circumstances, <br /> that the undertaking of the Project is in the best interest of all parties. <br /> 8. Prior to execution of this Agreement, the Developer shall pay to the EDA the sum <br /> of Five Thousand Dollars($5,000) (the "Payment") as a deposit toward reimbursing the EDA and <br /> City for all costs incurred in preparing the Redevelopment Contract. If, during the term of this <br /> Agreement, the parties execute a Redevelopment Contract, the Payment shall be applied against <br /> the Developer's obligation under the Redevelopment Contract to pay any legal, consulting and <br /> administrative costs incurred by the City and EDA in preparing the Redevelopment Contract. If <br /> the parties do not execute a Redevelopment Contract during the term of this Agreement due to <br /> actions of the Developer, the full amount of the Payment shall be retained by the EDA as <br /> consideration for its costs in preparing this Agreement and undertaking its obligations hereunder <br /> and this Payment Ghall be the maximum amount of the Developer's obligations owed to the City <br /> and EDA in the event no Redevelopment Contract is executed. However, if the parties do not <br /> execute a Redevelopment Contract during the term of this Agreement due to the actions of the <br /> City and EDA, then one hundred percent (100%) of the Payment shall be refunded to the <br /> Developer. Except as expressly provided herein, the City, EDA and the Developer shall have no . <br /> other monetary or other obligation to each other as a result of this Exclusive Negotiations <br /> Agreement if they are unable to reach agreement to the terms of an agreed upon Redevelopment <br /> Contract, or with respect to the Project, except as may be expressly provided in an agreed upon <br /> Redevelopment Contract. <br /> • <br /> JK.279.4 <br /> MC32QS-6 <br /> G/S antic' 0t£6G££Zt9'QI N3Attd0 8 AOaNNSN'WO2id £S , OI G6-tI-onv <br />