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C. Preliminary financial pro forma. <br /> d. Estimated preliminary schedule for redevelopment including land assembly, <br /> demolition,regulatory approvals and construction. <br /> 8. Contingencies._ It is expected that any redevelopment agreement will address the following <br /> items, which the parties acknowledge may be material to the Project: <br /> a. Creation of a tax increment financing district,and determination of the portion of tax <br /> increment, which will be made available to the Redeveloper; <br /> b. The acquisition of all or part of the Redevelopment Property by direct purchase or <br /> condemnation,on such tenons and conditions acceptable to the City and as determined by the <br /> City in its sole and absolute discretion. <br /> C. Preparation by the Redeveloper of a Phase I and,if required,Phase H environmental <br /> assessment and all other environmental and wetland reports and surveys certified to the <br /> Redeveloper and its lender,deemed necessary by the City and the Redeveloper for all of the <br /> property located within the Project,which reports and surveys must be satisfactory to the City <br /> and the Redeveloper; <br /> d. The City and the Redeveloper have obtained all necessary approvals for the Project <br /> from any participating governmental City including but not limited to any necessary <br /> • watershed district; <br /> e. All zoning modifications,rezoning approvals and conditional use permits necessary <br /> to allow the Project to move forward have been granted; <br /> f. The title commitment for the Redevelopment Property shall have been found <br /> acceptable to the Redeveloper in its sole discretion; <br /> g. Testing results are satisfactory to the Redeveloper including,but not limited to,soils, <br /> well, engineering, hazardous waste,and environmental reviews; and <br /> h. Financing acceptable to the Redeveloper. <br /> 9. Term. The term of this Agreement shall be effective one year from the day and year first <br /> above written or until the earlier of (a) the date this Agreement is superseded pursuant to a final <br /> Redevelopment Agreement between the City and the Redeveloper or its successors or assigns,or(b)upon such <br /> date that this Agreement is terminated by the City pursuant to this Section 9. Upon 30 days prior written notice <br /> to the Redeveloper, the City may terminate this Agreement at any time after December 31, 2002 if the City <br /> determines that the Redeveloper is not diligently pursuing the redevelopment of the portions of the <br /> Redevelopment Property and if the City establishes that such delay has not been caused in whole or in part by <br /> actions of the City. The Redeveloper shall have a reasonable time,but in no event less than 30 days,to affect a <br /> cure of such default or to demonstrate that it is diligently pursuing such cure. The City may also terminate this <br /> Agreement for the failure of the Redeveloper to pay reasonable expenses for consultants pursuant to Section 11 <br /> below. <br /> • Page 3 <br />