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JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R Acquisition Parcel. This allocation of costs will include all the specific items detailed in section 303 of this Agreement. If the actual costs of acquisition do not exceed such budget plus five percent (5%), the Agency may conclude the purchase of the Acquisition Parcel without prior consultation with the Developer. If it appears that any one of the budget line items will exceed budget plus five percent (5%), the Developer and the Agency must meet and mutually agree on a course of action before proceeding with the purchase of the subject parcel. If the parties cannot agree on a course of action, the Agency will commence an eminent domain action on that parcel. Once an eminent domain action has been filed, no purchase of that parcel may be consummated without the approval of both the Developer and the Agency. If the Developer withholds agreement on an Acquisition Cost against the advice of the Agency and/or its consultants, the Developer shall guarantee to pay the price awarded by the Court. Whether the Agency or the Developer is in Default or neither party is in Default, these same provisions will apply. The procedure described in the third paragraph of this section also will provide that if either party in its reasonable good faith opinion, forecasts that there will be insufficient funds to complete the acquisition of all Acquisition Parcels with the balance remaining in the Letter of Credit (or Cash Deposit) , such party may, by written notice to the other, terminate this Agreement under Section 1007E or 1008I, as appropriate, and demand that monies remaining in the Letter of Credit (or Cash Deposit) be retained and used to pay only for abandonment costs as defined in Section 303. The Executive Director shall accompany his calls upon the Letter of Credit (or Cash Deposit) with his certification to the issuer of the Letter of Credit (or to the depository of the Cash Deposit) , with a copy to the Developer, to the effect that the Executive Director has complied with the requirements of this section. The issuer of the Letter of Credit (or depository of the Cash Deposit) shall honor all calls upon the Letter of Credit (or Cash Deposit) within five (5) business days of presentment by the Executive Director. §305 Promissory Note and Deed of Trust as Security for Developer's Advances At the time of the first advance of Acquisition Costs to the Agency (whether advanced in cash by the Developer or drawn by the Agency under the Letter of Credit or Cash Deposit), the Agency shall execute and tender to the Developer its promissory note (the "Promissory Note") payable to the Developer substantially in the form of Attachment 5. The Promissory Note shall be in the amount of the initial advance of Acquisition Costs and shall be periodically increased by the specific amounts of the Developer's advances. The Promissory Note shall be without interest except in the specific situations covered in Section 1009. The 9