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In the event that the Agency fails t~ deliver <br />such title and possession to the Redeveloper within <br />said 810-day period, interest shall begin to accrue <br />on such principal sum as of the first day following <br />said 810-day period. Such interest shall accrue at <br />the rate of eight (8) percent simple interest per <br />annum until such time as the Agency's aeed to such <br />Second Subparcel shall have been recorded in favor of <br />the Redeveloper, at which time such accrued interest <br />shall be payable by the Agency to the Redeveloper. <br /> <br /> Interest shall not further accrue on the prin- <br />cipal sum of said promissory note unless the Agency <br />shall be unable to convey title to the Third Subparcel <br />in accordance with Section 2(a) herein together with <br />posses~ion thereof to the Redeveloper within 1080 days <br />after the date of execution of this Agreement by the <br />Agency. <br /> <br /> In the event that the Agency fails'to deliver <br />such title and possession to the Redeveloper within <br />.said 1080-day period. Such interest sha~l accrue at <br />the rate of eight (8) percent simple interest per <br />annum until such time as the Agency's deed to such <br />Third Subparcel shall have been recorded in favor of <br />the Redeveloper, at which time such accrued interest <br />shall be payable by the Agency to the .Redeveloper. <br /> <br /> The principal sum of said promissory note re- <br />presenting the Third Advance shall be cancelled through <br />escrow upon conveyance by the Agency to the Redeveloper <br />of such Third Subparcel. <br /> <br />(f) Payment of the Balance of the Purchase Price for <br /> theI Phase_II Paree'l' " <br /> <br /> Not later than the date specified in the Schedule of Perfor- <br />mance for conveyance to the Redeveloper of title to the Phase II <br />Parcel, provided that the Agency is prepared to deliver such title <br />and possession to the Redeveloper, the Redeveloper shall deposit in <br />escrow toward payment of the balance of the'Purchase Price for the <br />Phase II Parcel the sum of SEVEN HUNDRED SEVENTY'THREE THOUSAND FIVE <br />HUNDRED DOLLARS ($773,500.00). <br /> <br /> The sum of FIFTY ONE THOUSAND SEVEN HUNDRED SIXTY TWO DOLLARS <br />AND FIFTY CENTS ($51,762.50) comprising Redeveloper's Initial Advance <br />shall be credited in escrow toward payment of the Purchase Price for <br />the Phase II Parcel. In no event shall the Redeveloper be required <br />to advance and deposit in escrow toward payment of the Purchase Price <br />for the Phase II Parcel an amount in excess of such Purchase Price <br />for the Phase II Parcel as hereinabove set forth in Section 1. <br /> <br />-t8- <br /> <br /> <br />