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<br />(a) IB 68flBeetiaB with the eeBSft1.itJtiOfl of the City lm~-avemeRts, the City agrees to <br />pnwicle sHfiisieflt funas as sush. Beeeme aue for all eost6 thereaf (t;ke "City .^..ay&1lCos"), <br />eOfl.atitLltiBg "projeet eests," as Ele:fHlea iR tlie }..et, :H1Gludmg sasre of desiga, eBgiReeriRg, <br />materials, laBor, eeft&tnletion, afld inapeeoofl. f-eEls arisiDg Hi eElBf.leetieB ....'*k 1:8e City <br />Improvemeftts, an paymoots ansiftg l:lflaer airY eaft1mets etitefea Bito pUfsuant to this ..^"greelBeH:t, <br />all eosts m6W'RId in eO:&lieeUOfl. with ebtaiBi:Bg ge'll!lBURemaI B.JlIlFe"':als, eertifieft'tes or permits <br />Te~eEi as a llart ef any 60Btraets eateroo into iB. aeearaaaee ..vita this "^4SI'eemeBt, alid all tela-red <br />18gM fees a1'14 0\lt ef lleeket e1EjleBses melitfeli €IIi behalf of the }..-atherity in SenBestioo <br />there.'/ith. City A-dYaRees shall further iMlli6e sy ameuBtsadva;aeed by the City Bi Gmm6ction <br />. .. ... <br /> <br /> <br />(b) Interest on each ~ Advance ,: <br />accrue at a rate equal to the prime commercial lending rate of Chase Manhattan Bank, <br />National AssociatioD, or any successor to its commercial banking activities, plus one percent <br />per annum, compounded semiannually, whether such costs, fees, or expenses are paid or incurred <br />before or after the effective date of this Agreement. Interest shall be calculated on the b.asis of a <br />year of 360 days and the actual days elapsed (including the first day but excluding the last day) <br />occurring in the period for which such interest is payable, unless such calculation would result in <br />a usurious rate, in which case interest shall be calculated on the per annum basis of a year of 365 <br />or 366 days, as applicable, and the actual days elapsed (including the frrst day but excluding the <br />last day). <br /> <br />(c) +Be City shall &0t as guaretor of the obligations ofth.e ..^..lltherlty with reSfl0et tel &my <br />coatmets awarded in the :name of the }~lltkerity as pfElviaea ill BeetleD 4.3, abo'fa, and aay.such <br />eatHraGt shall pro"/ide that the eeatfaeter may leok fer pai'm-em oaly to the City. Of to tlmoo <br />provided to the ..<\..tHherity by the City speeifiaaUy for the pUfI'6se af making pa)'fBeftts te sueH <br />eafltmGtor. The City agr-eea to timely make SHeil p~eBts tEl allew fer paYHieBt Hi aeeerdaBee <br />'.vith the terms ofilia appHeaale eeRs1:rl:1efteB eeBRet. <br /> <br />5.2 Repavment of GiW-Advances. <br /> <br />(a) In consideration of the construction of the Project Gity Improvemeats, the Authority <br />shall begin repaying the ~Advances. and shall continue such repayment until repaid in full, <br /> <br />Page 7 of 15 <br />