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<br />deliver to the City the required additional security. If <br />necessary in order to ensure that the City possesses sufficient <br />financial security at all times prior to completion of the <br />Project, the Developer shall renew or extend the letter of <br />credit. Upon receipt of written demand from the City for <br />reimbursement of the Costs, the Developer shall remit payment to <br />the Ci ty wi thin ten days. I f the Developer fails to make the <br />payment within the specified period of time, the City may utilize <br />the cash or letter of credit to reimburse itself. <br /> <br />ARTICLE VI. MASTER AGREEMENT. It is the intent of the Developer <br />that the Property be developed for retail commercial use. The <br />parties understand that if the Property is subsequently developed <br />it will be necessary for them to enter into an additional <br />agreement ("Master Agreement"). The Master Agreement may include <br />provisions regarding the use of tax increment financing and other <br />matters preliminary to use of the Property in the manner desired <br />by the Developer. In recognition of the importance of the <br />successful formulation of the Master Agreement, the parties agree <br />to enter into negotiations regarding same at such time as may be <br />appropriate and to negotiate in good faith. <br /> <br />ARTICLE VII. INDEMNIFICATION. The Developer agrees to hold the <br />City and its agents harmless from any claims by the Developer or <br />third part i es, incl uding, but not 1 imi ted to, con tractors, sub- <br />contractors, materialmen, encumbrancers and tenants, for damages <br />sustained, costs incurred or injuries resulting from the Project <br /> <br />4 <br />