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4.7 Manner of Disbursement, City may make any disbursement by check payable to Developer; or on a voucher basis; or by check payable jointly to Developer and any contractor, subcontractor or ether claimant; or directly to any such claimant; or by any ether means reasonably selected by City, Disbursement will be made fifteen (15) days fronn approval, 43 Cast [Overruns. In the event that, at any time and for any reason, (a) the actual cost reasonably estimated by City or Developer to be required to complete all matters included in any line itern in the Project Budget exceeds the amount allocated to that line item in the Project Budget, (b) construction costs for any matters not covered by a specific tine item have been or will be incurred, or (e) the undishursed portion of the construction portion is of may be insufficient to pay all construction costs that may be payable under the City Loan Documents or otherwise in connection with the construction, Developer shall, within ten (10) days after it receives written notice thereof from City of any of the foregoing matters, do one or more o r the following; (a) provide satisfactory evidence to City that Developer has previously paid such excess or otherwise - provided for such insufficiency (collectively, the "Excess Cost ") with funds from .a source other than the City Lean; (b) reallocate sufficient funds to pay the Excess Cost from funds ,allocated to "Contingency" in the Project Budget; provided, however, that tlae Executive Director's consent to any such reallocation shall be required, or (c) deposit an amount equal to the Excess Cost in a non - interest bearing account (the "Overrun Account ") with City from rwbich withdrawals may be made tartly with the consent of the Executive Director but which will be exhausted prior to arty further disbursement for any line item, so that any resulting surplus in any line item of the Project Budget will them be reallocated to the Unc iterri(s) in which the Excess Costs are expected to be incurred. City shall have no obligation to rriaake further disbursements until Developer has paid or otherwise provided ftrr the overrun as required above. Amounts deposited by Developer in the Overrun Account for any Excess Costs shall be disbursed by City prior to the disbursement of :any remaining construction portion proceeds in the manner described in subsection 93(c), 4 i) Cost Savings, Upon completion of and disbursement for all matters covered by any line items in the Project Budget, any remaining undisbursed amounts allocated to that line item shall be reallocated to "Contingency" and thereafter be avi lable for disbursement in accordance with the teams of this Agreernent. 4.10 Retainage. City will witlrltold a retainage of 10 loom each Disbursernent for each of the hard cost tine items of the project cast breakdown (and other line items thereof designated for withholding of retainago) until all conditions to the final disbursement of hard costs have been satisfied. hi lieu of City's withholding rctainage, Developer can by written notice to City elect not to drain any overhead or profit as would I 25B -17