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DRAFT 3/18/98 <br /> <br />Development Property to be less than Nine Thousand Nine Hundred Fifty-seven and 25/100 Dollars ($9,957.25). <br /> <br /> Section 6.3. Agreement to Pay Deficiencies. The Developer and the City shall execute the <br />Agreement to Pay Deficiencies contained in this Agreement as Exhibit H. <br /> <br /> Section 6.4 Right to Collect Delinquent Taxes. The Developer acknowledges that the City is <br />providing substantial aid and assistance in furtherance of the development through tax increment fmancing. The <br />Developer understands that the increment will be used to reimburse the City for the cost of the Site Improvements <br />and, therefore, the real estate taxes must be promptly and timely paid. To that end, the Developer agrees for itself, <br />its successors and assigns, in addition to the obligation pursuant to statute to pay real estate taxes, that it is also <br />obligated by reason of this Agreement to pay before delinquency all real estate taxes due and payable with respect <br />to the Development Property prior to the Maturity Date based upon the minimum market value as stipulated in the <br />Assessment Agreement. The Developer acknowledges that this obligation creates a contractual fight on behalf of <br />the City to sue the Developer or its successors and assigns to collect such delinquent real estate taxes and any <br />penalty or interest thereon and to pay over the same as a tax payment to the county auditor. In any such suit, the <br />City shall also be entitled to recover its costs, expenses and reasonable attorney fees. <br /> <br />Page 13 <br /> <br /> <br />