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M Section 5.16 of the Redevelopment Agreement is hereby amended to read as follows: "Section 5.16 Road Improvements by the City with Respect to the Commercial Development, Road Dedication, Special Assessments. During Commercial Developer's performance of the Commercial Development, the City, will construct certain Commercial City Public Improvements consisting of a new 39th Avenue between Silver Lake Road and existing 39th Avenue, including public utility infrastructure and streetscaping to the curb line, pursuant to Exhibit F, prepared by the City Consultant. The Developer or Commercial Developer shalt dedicate all needed right of way for the Commercial City Public Improvements, in accordance with normal City requirements, at no cost, from any property owned by Developer, but shall not be obligated to acquire any additional land for right of way. The City has determined no right of way outside of the property owned by Developer is required. This transfer of right of way shall be a condition of the platting of the Commercial Property. Cost of the Commercial City Public Improvements will be paid by Special Assessments on the Commercial Development Property, in the amount of $1,705,000. Any costs of the Commercial City Public Improvements in excess of this amount will be paid or reimbursed by the Authority as a Qualified Redevelopment Cost from Available Tax Increment as provided herein. The City will use its reasonable efforts to design and construct the Commercial City Public hnprovements consistent with the $1,705,000 budget estimate. The Commercial Developer agrees to not object to the amount or use of such Special Assessments in the amount of $1,705,000 and represents that the anchor tenant has agreed to pay $1,104,840 in a hump sum in payment of the allocated amount of the Special Assessments to the anchor tenant portion of the Commercial Development upon commencement of the anchor tenancy. Commercial Developer shall require the anchor tenant to agree to this requirement in its tease, or the Special Assessments for this amount will be assessed to the anchor tenant's portion of the Commercial Property as provided herein. The City agrees to impose the balance of the Special Assessments thereafter, only on the remainder of the Commercial Development Property. The Special Assessments shall be financed by the City to not require current interest or principal payments until completion of the Commercial Development and the City will issue its Special Assessment bonds to provide for payment of the Special Assessments in equal payments over a term of not less than fifteen (15) years, so as to minimize the tax obligation annually on the Commercial Property and indirectly on the commercial tenants. The Commercial Developer agrees that the $1,705,000 of Special Assessments described in this Section 5.16 will be allocated to portions of the Commercial Development Property as follows: Lot 1, Block 1 Silver Lake Village $287,572 Lot 2, Block 1 Silver Lake Village $1,104,840 Lot 3, Block 2 Silver Lake Village $40,000 2