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6. Siemens and the City jointly commit to provide the necessary resources and information in order <br />to meet the following Project development schedule: <br />Milestones <br />Presentation of Audit Results <br />IGA/ Project Development Begins <br />IGA/ Project Development <br />Design Development <br />Workshops — Design (Scope), Finance, <br />Presentations(s) to City Stakeholders <br />IGA Deliverable <br />Begin Procurement of Financing <br />Select Financial Provider <br />Finish Negotiating Agreement <br />Council Approval <br />Execution of Agreement <br />Implementation Begins <br />Target Completion Date <br />Nov 14, 2017 <br />April, 2018 <br />Duration: approx. 90 days from Project <br />Development Start Date <br />Guarantees, Community Communications Plan <br />June, 2018 — Council Mtg Date <br />June, 2018 <br />July, 2018 <br />July, 2018 <br />Aug, 2018 — Council Mtg Date <br />Aug, 2018 <br />7. If Siemens is unable to produce an Agreement that meets the above Objectives, than it shall <br />receive no payment for its efforts to develop the Project. If Siemens presents an Agreement that <br />meets the above Objectives, and the parties do not execute it within forty-five (45) days <br />thereafter, then the City agrees to pay Siemens a termination fee of $27,000 (twenty seven <br />thousand dollars and no cents) within sixty (60) days of invoice. Alternatively, if Siemens <br />provides an Agreement which meets the Objectives defined above, and the parties execute the <br />Agreement, then the costs associated with the Audit will be incorporated into the price of the <br />Agreement. <br />On behalf of the City, this Project Development Agreement is approved as the date above. <br />Sincerely, <br />City of Ramsey, MN <br />Signed Printed Name <br />Title <br />PDL-2of2 <br />