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JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R which the Developer shall have realized at least a fifteen percent (15%) Internal Rate of Return on Total Project Cost. The right to receive the payments provided under this Section 804 and, if applicable, Section 804.5, shall be assignable but only as an incident of an assignment of this Agreement that has received the prior written approval of the Agency, which approval the Agency will not unreasonably withhold; provided, however, that any such assignee shall be subject to all conditions and defenses the Agency could have asserted against the Developer under this Agreement. In the event the contingency described in Section 804.5 occurs, the Three Hundred Thousand Dollars ($300,000) limitation described in the first sentence of this section shall be increased to the extent provided in Section 804.5. §804.5 Same: Conditional Contribution The limitation on the amount of the annual payment to the Developer of THREE HUNDRED THOUSAND DOLLARS ($300,000) established in Section 804, shall be increased in the event that the total actual expenditures for both (1) relocation costs and, (2) good will exceed the total of the estimates for each of such costs heretofore agreed upon by the Developer and the Agency; provided that, in such event, the amount of the Agency's and City's respective responsibilities for such excess payments under this Section 804.5 shall be limited to 20% of the amount by which such total actual expenditures exceed such total estimates. The Agency's and City's respective responsibilities for the payment of 20% of such excess payments shall cease upon payment in full, or upon the expiration of the fifteen (15) year period established in the second sentence of Section 804, or upon the happening of either of the contingencies set forth in (1) and (2) of the second sentence of Section 804, whichever shall first occur. §805 Sales and Use Taxes -Recoupment by the City The City's contribution of Sales and Use Taxes under Section 804 and, if applicable, Section 804.5 is subject to recoupment by the City as follows: Upon any Sale of the Project from which the Developer has realized a fifteen percent (15%) IRR on Total Project Cost, the City will share equally with the Developer in the Gross Sales Proceeds to the extent of any excess over a 15% IRR, but in no event exceeding the City's cumulative contribution of Sales and Use Taxes pursuant to Section 804 and Section 804.5. The City's right so to participate shall exist until it shall have participated in at least one such sale, and the City has the right to participate in more than one such sale, until the City has recouped 100% of its contributions subject to such recoupment, provided that the following time limitations shall apply to such right: 31