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(g) Acqui.sition an~ Development of the Phase. II Parcel in .Increments by the Redev~!0per (i) Payment of the Purchase Price for the FirSt Sub Parcel In the event the Redeveloper elects to acquire and develop the Phase II Parcel in increments.as provided in the Scope of Development, the Redeveloper shall deposit the purchase price for the First Sub Parcel to be developed as comprising a portion of the Phase II Parcel in escrow not later than the date for conveyance thereof to the Redeveloper as provided in the Schedule of Performance. The.purchase price for such First Sub Parcel shall be allocated pro rata through escrow at the rate of TWO DOLLARS AND THIRTY SEVEN CENTS ($2,37) per square foot to be conveyed. (ii) ~aym~.nt of the Purchase Price for the Second Sub Parcel .... In the event the Redeveloper elects to divide the Phase II Parcel into two subparcels, the Redeveloper shall de- posit the purchase price for the Second.Sub Parcel, as comprising. the balance of the Phase II Parcel, in escrow not later than the date for conveyance thereof to the Redeveloper as provided in the Schedule of Performance. The purchase price for such Second Sub Parcel shall be allocated through escrow at the rate of TWO DOLLARS AND THIRTY SEVEN CENTS ($2.37).per square foot to be conveyed. The sum O~ FIFTY ONE THOUSAND SEVEN HUNDRED SIXTY TWO DOLLARS AND FIFTY CENTS ($51,762.50), comprised of the Redevel- oper's Initial Advance,. shall be credited in escrow toward pay- ment of the purchase price for such Second Sub Parcel. In no event shall the Redeveloper be required to advance and deposit in escrow toward payment of the Purchase Price for the Phase II Parcel an amount in excess of such Purchase price for the Phase II Parcel as hereinabove set forth in Section.1. In the event the Redeveloper elects to divide.the Phase II Parcel into three subparcels, the Redeveloper shall deposit the purchase price for the Second Sub Parcel in escrow not later than the date for conveyance thereof to the Redeveloper as provided in the Schedule of Performance. The purchase price for.such Second Sub Parcel shall be allocated through escrow at the rate of TWO DOLLARS AND THIRTY SEVEN CENTS ($2.37) per square foot to be con- veyed. (iii) Payment of the Purchase Price for the Third Sub Parcel ' In the event the Redeveloper elects to divide the Phase II Parcel into three subparcels, the Redeveloper shall deposit the purchase price for the Third Sub Parcel, as comprising the balance of the Phase II Parcel, in escrow not later than the date for con- vevance thereof to the Redeveloper as provided in the Schedule of