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55 • receipt by Redeveloper of an invoice for such amounts to the date paid at an annual rate equal to (A) the "prime rate" as published in the Wall Street Journal, or if the Wall Street Journal no longer publishes such a rate or successor rate, then the reference or prime rate, successor rate or similar rate determined by a national banking institution reasonably selected by the HRA, plus (B).4 percentage points per annum, or the maximum rate of interest permitted by,law, whichever is less,and the interest,will be paid to the HRA on demand. Notwithstanding anything to the contrary in this Agreement, the Redeveloper's obligation to pay the HRA all Acquisition Costs incurred by the HRA will survive any expiration or earlier termination of this Agreement. If the Redeveloper cannot obtain the consent of the lessee under the Lease to the Project or to cancel or terminate the Lease through direct negotiation, the HRA will commence an eminent domain proceeding to terminate the Lease or the provisions thereof designated by the Redeveloper by filing a petition pursuant to Minnesota Statutes, Chapter 117. Condemnation proceedings may, at the option of the Redeveloper, include a request for the immediate transfer of title ("quick take") pursuant to Minnesota Statutes, Section 117.042. If the HRA initiates acquisition through the exercise of a "quick take" proceeding within its eminent domain authority pursuant to this Section, the Redeveloper will provide to the HRA for deposit with the Ramsey County District Court the appraised value for the interest in the Redevelopment Property to be so acquired by the HRA, which value shall be determined by an appraiser mutually acceptable to both the Redeveloper and the HRA. The actual Purchase Price to be paid by the Redeveloper to the HRA for the portion of the • Redevelopment Property to be acquired by the HRA will'be equal to the amount awarded by the District Court as damages to the owner of any Redevelopment Property acquired by the HRA. The amount awarded as damages may exceed the amount provided by the Redeveloper to the HRA for deposit with the District Court. For any interest in the Redevelopment Property acquired by the HRA for which the amount awarded by the District Court exceeds the amount of the deposit already paid by the Redeveloper, the Redeveloper will pay to the HRA immediately upon request by the HRA the difference between the deposit amount and the District Court damage amount. The Redeveloper's obligation to pay the HRA the Purchase Price for any portion of the Redevelopment Property which is acquired by the HRA will survive any termination of this Agreement. Prior to the HRA commencing any eminent domain proceedings pursuant to this Section 3.3 the Redeveloper shall deposit with the HRA an irrevocable letter of credit in favor of the HRA issued by a commercial bank approved by the HRA. Such letter of credit shall be in a form approved by the HRA and shall be in the amount not less than 115%of the HRA's Acquisition Costs as estimated by the HRA. Such letter of credit shall be maintained by the Redeveloper with the HRA in such amount at all times during the pendency of such condemnation proceedings. If the Redeveloper shall fail to pay the HRA any amounts required to be paid by the Redeveloper to the HRA under this Section 3.3 the HRA shall be entitled to submit a draw under the letter of credit for such amount. Condemnation proceedings initiated under this Section may be abandoned by the HRA if the Redeveloper fails to (i)cause the letter of credit required by this Section 3.3 to be maintained with -7-