Modification to Procedures and Requirements. The Parties hereby understand and agree that the process to approve Certificates of Expenditure and properly disburse the Public Financing Proceeds is important to the State, the City and the Developer for various reasons. Accordingly, the Parties hereby understand and agree that: (i) the City may retain outside third party representatives to manage and/or provide oversight to this process and Developer hereby agrees to fully cooperate with any such third party representatives in this process and to pay the City's costs for retaining such third parties, and (ii) the City may modify the requirements and procedures set forth herein as it deems reasonably necessary from time to time in order to make certain that the Public Financing Proceeds are properly accounted for and disbursed to the Developer in accordance with Applicable Laws and Requirements and the highest standards of fiscal responsibility and accountability.
Modification to Procedures and Requirements. The parties hereby understand and agree that the process to approve Certificates of Expenditure and properly disburse the Public Financing proceeds is important to the State, the City and the Developer for various reasons. Accordingly, the parties hereby understand and agree that
Modification to Procedures and Requirements. The parties hereby understand and agree that the process to approve Certificates of Expenditure and properly disburse the UG Contribution, Sales Taxes, TIF Proceeds, and CID Sales Tax Proceeds is important to the UG and Developer for various reasons. Accordingly, the parties hereby understand and agree that: (i) the UG may retain outside third party representatives to manage and/or provide oversight to this process, with the prior written approval of Developer, which approval shall not be unreasonably withheld, conditioned or delayed following Developer’s receipt of a cost proposal from such outside third party representative(s) that includes a not-to-exceed amount, and Developer hereby agrees to fully cooperate with any such third party representatives in this process and to pay the UG's costs for retaining such third parties; provided, however, that: (x) Developer will not be required to pay any costs that exceed the not-to-exceed amount set forth in the aforementioned cost proposal; and (y) any and all such costs paid by Developer shall be reimbursable from the UG Contribution, TIF Proceeds, CID Sales Tax Proceeds and Sales Taxes, subject to Applicable Laws and Requirements (including the TIF Act with respect to TIF Proceeds, and the CID Act with respect to CID Sales Tax Proceeds).
