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11001010110100111111111 <br />of the accrued and unpaid interest on the TIF Note are insufficient for such purposes, the <br />difference shall be carried forward, without interest accruing thereon, and shall be paid if and to <br />the extent that on a future TIF Note Payment Date there are Tax Increments in excess of the <br />amounts needed to pay the accrued interest then due on the TIF Note. <br />(6) The City's obligation to make payments on the TIF Note on any Note <br />Payment Date or any date thereafter shall be conditioned upon the requirements that: (A) there <br />shall not at that time be an Event of Default that has occurred and is continuing under this <br />Agreement and (B) this Agreement shall not have been rescinded pursuant to Section 4.2. <br />(7) The TIF Note shall be governed by and payable pursuant to the additional <br />terms thereof, as set forth in Exhibit B. In the event of any conflict between the terms of the TIF <br />Note and the terms of this Section 3.2, the terms of the TIF Note shall govern. The issuance of <br />the TIF Note pursuant and subject to the terms of this Agreement, and the taking by the City of <br />such additional actions as bond counsel for the TIF Note may require in connection therewith, <br />are hereby authorized and approved by the City. <br />Section 3.4. Legal and Administrative Expenses. The Developer has deposited $7,000 <br />with the City to pay actual out of pocket Legal and Administrative Expenses and any excess will <br />be returned to the Developer after payment of all Legal and Administrative Expenses. If the City <br />determines the deposit to be inadequate, the Developer shall provide additional funds in the <br />amount determined by the City to be escrowed. <br />7 <br />7269889v1 <br />