PEEBLER, SCOTT AS SUCCESSOR IN INTEREST TO GERALD PEEBLER - 2014

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with a copy to UCI, for payment for its services, along with supporting documentation. City shall not issue payment to Design Firm until receipt of written approval from UCI. Upon receipt of such approval, City shall issue payment to Design Firm in accordance with City's normal accounting procedures. In no event shall the City be obligated to pay more than Two Hundred Fifty Thousand Dollars for the costs of the design work for the Public Improvements. Upon request, City shall provide UCI with an accounting of all such payments made to Design Firm. City agrees that it shall cooperate with Design Firm, if requested, to help ensure that the proposed Public Improvements comply with City standards and requirements. Any unexpended money in the Design Fund shall be deposited in and used for the same purposes as the Peebler Fund. UCI shall be responsible for monitoring the work to be performed by Design Firm, with the intent that a list of proposed Public Improvements to be constructed under this Agreement shall be submitted to City for review and approval within six (6) months of the date of this Agreement so that a list of City- approved Public Improvements can be developed within nine (9) months of the date of this Agreement. In the event that Petitioner does not submit a list of proposed Public Improvements to the City within the time set forth herein, City shall notify Petitioner in writing of such breach, and Petitioner shall have thirty (30) days to cure such breach. City shall not unreasonably withhold approval of the proposed Public Improvements, and shall meet and confer with Petitioner in good faith to resolve any disputes regarding any disapproved Public Improvements and the use of the Peebler Fund. If no Public Improvements have been proposed and approved by the City within one (1) year of the date of this Agreement, then the City shall have the discretion to use the Peebler Fund for projects within the boundaries of the former South Main Street Redevelopment Project Area and the parties shall have no further rights against or obligations to each other. 4. The City shall be solely responsible for the construction of any approved Public Improvements and shall follow its normal procedures for the award of and payment for such work, including but not limited to, compliance with any required competitive bidding requirements and the payment of prevailing wages. In no event shall City be required to pay for the Public Improvements, including the City's associated administrative costs, from any funds other than those in the Peebler Fund. In the event that the costs of the approved Public Improvements exceeds the amount available in the Peebler Fund, the parties agree that they shall meet and confer in good faith to determine which Public Irprovements should be constructed. The City shall use its good faith efforts to complete construction of the approved Public Improvements within seven (7) years of the date of this Agreement. Any unexpended funds in the Peebler Fund remaining after completion of the construction of the Public Improvements shall be retained by the City to be used for the general benefit of the South Main Corridor. 5. Any notice to be given by any Party hereunder must be given in writing and delivered in person, or by reputable nationwide overnight courier or forwarded by certified or registered United States mail, postage prepaid, return receipt requested, or through electronic mail with read receipt at the address indicated below, unless the party giving such notice has been notified in writing of change of address: -4- 55394.00005V9313511.9