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5Y • ARTICLE 6 Public Assistance Section 6.1 General Description. The HRA will provide to the Redeveloper an amount of public assistance equal to the Public Redevelopment Costs incurred by the Redeveloper up to the maximum amount provided in Section 6.2 hereof. The public assistance will be payable to the Redeveloper on a "pay-as-you-go" basis where the Redeveloper will incur the Public Redevelopment Costs as part of the costs to develop the Redevelopment Property, and will thereafter be reimbursed by the HRA for said Public Redevelopment Costs as provided in Section 6.2 hereof. Section 6.2 Reimbursement of Public Redevelopment Costs. The HRA will not reimburse the Redeveloper for its Public Redevelopment Costs from HRA revenues nor guaranty the amount of money which the Redeveloper will annually receive as the reimbursement for its Public Redevelopment Costs. The HRA's obligation to reimburse the Redeveloper for its Public Redevelopment Costs will be contained in the Note. The Note will be issued by the HRA to the Redeveloper with maximum principal balance of$4,750,000 plus interest on the unpaid principal balance thereof at a rate equal to nine and one-half percent (9.50%) per annum, and shall be payable solely from Available Tax Increment as provided in the Note. The Note will be issued upon execution of this Agreement by all parties hereto. Upon payment by the Redeveloper of Public Redevelopment Costs which are eligible to be reimbursed pursuant to the Note and are not Public Redevelopment Costs to be reimbursed by the HRA pursuant.to Section 4.3 hereof, the Redeveloper will deliver to the HRA an instrument executed by the Redeveloper specifying (i) the'amount and nature of Public Redevelopment Costs to be reimbursed pursuant to the Note, and (ii) certifying that such Public Redevelopment Costs have been.paid to third parties unrelated to the Redeveloper or if any Public Redevelopment Costs have been paid to third parties related to the Redeveloper, that such Public Redevelopment Costs-do not exceed the reasonable and customary costs of services, labor or materials of comparable quality, dependability, availability and other pertinent criteria and that such Public Redevelopment Costs have not previously been contained in an instrument furnished to the HRA pursuant to this Section 6.2_and are not Public Redevelopment Costs to be reimbursed by the HRA pursuant to Section 4.3 hereof. Together with such instrument the Redeveloper shall deliver to the HRA evidence satisfactory to the HRA of the payment by the Redeveloper of such Public Redevelopment Costs to be reimbursed by the Note. The principal amount of the Note shall be increased on the date of delivery of such instrument to the HRA by the amount of Public Redevelopment Costs eligible to be reimbursed pursuant to the Note specified in such instrument which have not previously increased the principal amount of the Note. Section 6.3 Assignment of Note. The Note shall not be assignable or transferable without the prior written consent of the HRA; provided, however, that such consent shall not be unreasonably withheld or delayed if: (a) the assignee or transferee delivers to the HRA a written instrument acknowledging the limited nature of the HRA's payment obligations under the Note, and (b) the assignee or transferee executes and delivers to the HRA a certificate, in form and substance satisfactory to the HRA, pursuant to which, among other things, such assignee or transferee represents (i) that the • -11-