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7. Hot List <br />a. Active deals will be declared, approved, and tracked through a Hot <br />List' incorporated into the active Dashboard. This list will be presented <br />to the HRA at regular meetings for its approval. No active deal will be <br />considered for placement on the Hot List unless there has been <br />sufficient interest in the development by the subject developer, as <br />determined by the HRA. The Hot List will have no binding effect if it <br />has not received formal approval of the HRA. In the event of <br />termination of this Agreement, the current Hot List will be finalized and <br />approved by all parties. <br />b. For Incentive Compensation coming due in the 12 months following <br />the approval of the final Hot List, full Incentive Compensation will be <br />paid pursuant to paragraph 3.c., d., and e. above. <br />c. Following the 12 month through the 24 month the Incentive <br />Compensation will be 80% of the full Incentive Compensation. <br />d. Following the 36 month through the 48 month the Incentive <br />Compensation will be 40% of the full Incentive Compensation. <br />e. Following the 48 month through the 60 month the Incentive <br />Compensation will be 20% of the full Incentive Compensation After the <br />60 month, NO Incentive Compensation will be due to Landform. <br />f. If, by the agreement of both parties, Services outlined in this proposal <br />are provided outside the Project all terms and conditions o in this <br />proposal shall apply on a parcel -by- parcel basis. <br />g. Exceptions /Exclusions to Incentive Compensation: <br />i. No Incentive Compensation will become due on any public <br />infrastructure (roads, bridges, utilities, etc.) projects constructed <br />within the Project. <br />U. No Incentive Compensation will become due on any public park <br />projects including the City of Ramsey's East Meandering Park <br />unless the park contains a commercial or private component for <br />which the fee will be calculated on that portion alone. <br />iii. No incentive Compensation will become due on any city initiated <br />facilities providing municipal services to the City of Ramsey. (i.e. <br />City offices, pump house, public works facilities, community center, <br />etc.). The term "community center" as used herein shall mean a <br />facility that is constructed without any private partnership with the <br />Page 1 (i <br />