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<br />104 <br /> <br />necessary to construct the First and Grand <br />Improvements, or (B) the City has obtained an <br />order for prejudgment possession with respect <br />to all or any portion of said right-of-way. <br />Developer's obligation to pay any portion of <br />the First and Grand contribution pursuant to <br />this Subsection (iii) shall be limited to the <br />actual costs incurred by the City to acquire <br />the right-of-way. <br /> <br />Notwithstanding the foregoing, in no event shall <br />Developer be required to pay any portion of the First and <br />Grand contribution prior to June 30, 1992. within sixty <br />(60) days after the date of the City's adoption of an <br />ordinance approving this Amendment, Developer shall <br />obtain a bond ("Bond") in the amount of the First and <br />Grand Contribution in favor of the City to secure <br />Developer's agreement to pay to the city the First and <br />Grand contribution in accordance with the terms and <br />conditions of this section 10(b) (3). Subject to the <br />limitations provided herein, the City may call the Bond <br />upon Developer I s failure to pay the Fin,t and Grand <br />Contribution or any portion thereof on or before the date <br />which is fifteen (15) days after the city's written <br />notification to Developer and the bonding company that <br />such amount is due and payable hereunder; provided, <br />however, that the city may demand the payment by the <br />bonding company of only that portion of the First and <br />Grand Contribution which Developer has failed to pay when <br />due. The Bond shall provide that it may be modified, <br />canceled or released only upon the request of the City; <br />provided, however, that (A) upon Developer's payment of <br />less than the entire First and Grand contribution, the <br />City shall execute whatever documents are necessary to <br />reduce the amount of the Bond to the then unpaid portion <br />of the First and Grand contribution; and (B) upon <br />Developer's payment of the entire First and Grand <br />Contribution, Developer shall be released from any <br />further obligation with respect to the First and Grand <br />Improvements, and the City shall execute whatever <br />documents are necessary to fully exonerate the Bond. <br /> <br />12. That portion (and only that portion) of Subsection (b) (4) <br />(Developer's Obliaations - Limitations on Development Fees and <br />Developer Contributions) of section 10 (Costs of Mitiaation <br />Measures) on page 9 of the Agreement commencing with the words <br />"Items (i) through (iv), above,. ." is hereby deleted in its <br />entirety, and the following is substituted in lieu thereof: <br /> <br />",( <br /> <br />Items (i) <br />COllectively <br />Contributions." <br /> <br />through (iv), above, are <br />referred to as the <br />The city and Developer <br /> <br />hereinafter <br />"Developer <br />agree and <br /> <br />7 <br />