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JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R under this Agreement shall become the sole responsibility of the Agency. The Agency shall return to the Developer forthwith the Good Faith Deposit (if not already returned to the Developer) and the Letter of Credit (or Cash Deposit). Simple interest shall accrue upon the unpaid principal balance of the Promissory Note at the rate of eight percent (8%) per year, commencing on the date of such termination. Any unpaid principal balance of the Promissory Note and interest shall be payable solely from Sales and Use Taxes and Tax Increment received by the Agency from those parcels compromising the Project Site; provided that, if such principal balance and interest shall not have been paid in full by the termination date of the Redevelopment Plan, the Agency's duty to make such payments on the Promissory Note shall cease. Promptly upon the payment in full of such principal balance with interest, the Promissory Note shall be cancelled and returned to the Agency and the Deed of Trust shall be reconveyed to the Agency, whereupon the Agency shall have no further rights against or liability to the Developer under this Agreement. 2. If at such time the Agency shall have acquired one or more but not all of the Acquisition Parcels, both the duty of the Agency to acquire the remaining Acquisition Parcels and the duty of the Developer to pay any additional Acquisition Costs and all other duties and obligations imposed upon the Developer in this Agreement shall cease, whereupon the Developer shall have no further liability to the Agency under this Agreement. Payment of any costs of the Agency in abandoning the acquisition process under this Agreement shall become the sole responsibility of the Agency. The Agency shall return to the Developer forthwith the Good Faith Deposit (if not already returned to the Developer) and the Letter of Credit (or Cash Deposit). The Agency promptly shall convey to the Developer all Acquisition Parcels it has acquired, whereupon the principal balance of the Promissory Note shall be reduced by the total amount of the Acquisition Costs attributable to such Acquisition Parcels. Simple interest shall accrue upon the remaining principal balance of the Promissory Note at the rate of eight percent (8%) per year, commencing on the date of such termination, and such remaining principal balance plus interest shall be payable solely from Sales and Use Taxes and Tax Increment received by the Agency from those parcels comprising the Project Site; provided that, if such principal balance and interest shall not have been paid in full by the termination date of the Redevelopment Plan, the Agency's duty to make such payments on the Promissory Note shall cease. Promptly upon the payment in full of such principal balance and the accrued interest thereon, the Promissory Note shall be cancelled and returned to the Agency and the Deed of Trust shall be reconveyed to the Agency, whereupon the Agency shall have no further rights against or liability to the Developer under this Agreement. C. Where Neither Party is in Default. This subsection C of Section 1009 sets forth the rights and duties of the parties where this Agreement shall have been terminated without either 41