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ARTICLE IV <br />CONSTRUCTION OF PUBLIC IMPROVEMENTS <br />Section 4.1. Construction of Public Improvements. The City has constructed the <br />following public improvements in accordance with the plans and specification prepared by the <br />City Engineer <br />(a) McKinley and Ebony Streets to serve the Development Property <br />(b) Extension of City utility services to the Development Property in accordance with <br />plans and specifications prepared by the City Engineer. <br />(the `Public Improvements") <br />The City shall retain a lien pursuant to a Lien Agreement on the Development Property in <br />the amount of Two Hundred Fifty Thousand and 00/100 Dollars (S250,000) until completion of <br />the Minimum Improvements by the Developer, which amount represents the Financial <br />Assistance. The Lien Agreement shall be substantially in the form attached as Exhibit F. The <br />City's lien shall at all times be subordinate to any first and second mortgage granted by the <br />Developer to finance the construction of the Minimum Improvements. The City will execute an <br />agreements reasonably requested by the Developer and/or Holders of any first or second <br />mortgage to evidence such subordination, except that the City is not obligated to subordinate the <br />Assessment Agreement to any Mortgage encumbering the Development Property. <br />14 <br />