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In the event that this Agreement is terminated by either party for any reason, the Redeveloper shall not be under any ob- ligation to deposit further funds pursuant to this Agreement. The obligation of the Agency to repay the principal sum of said prom- issory note and any accrued interest thereon shall be based upon and limited by the availability of funds to the Agency pursuant to Health and Safety Code Sections 33670-33674, inclusive, California Community Redevelopment Law, and any other funds law- fully available to the Agency from time-to-time for such purpose. (d) Redeveloper's Third Advance of Funds At such time as the Redeveloper shall have received its initial endorsement from HUD with respect to ~he Phase I Parcel, the Redeveloper shall deposit with the Agency toward payment of a portion of the Purchase Price for the Phase II ParceT the sum of TWO HUNDRED NINE THOUSAND NINE HUNbRED EIGHTY SEVEN'DOLLARS AND FIFTY CENTS ($209,987.50). Such amount shall comprise the Redeveloper's Third'Advance of Funds (hereinafter "Third Advance"). The Third Advance shall be used by the Agency (1) toward the. purchase price for the acquisition of the properties comprising the Phase II Parcel, (2) to complete the relocation of the occu- pants on such properties comprising such Parcel, (3) for proceed- ings in eminent domain if any lots cannot be acquired through negotiations, (4) for Agency administration and contingencies and (5) for site preparation and construction of public improve- ments. (e) Agency's Promissor~ Not~ .as ~.ity for ~edeveloper.'s_~hir~ Ad%~ce Upon receipt by the Agency of the Redeveloper's Third Advance, the Agency shall execute and deliver to the Redeveloper its promis- sory note, payable to the Redeveloper in lawful money of the United States as hereinafter provided. The principal sum of th~Agency's promissory note shall be in the amount of the Redeveloper's Third Advance. Said promissory note shall be nonassignable (except to the bank or other entity providing the Third Advance to the Rede- veloper and reassignable from said bank or other entity to the Redeveloper) Without the consent of the Agency which consent shalI not be unreasonably withheld. .' I~terest shall not accrue on the principal.sum of said promis- sory note unless the Agency shall be unable to convey title to the Phase II Parcel in accordance with Section 2(a) herein together with possession thereof to the Redeveloper within 540 days after the date of execution of the Agreement by the Agency. -15- FEB