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<br />the orderly development of the area within the Reinvestment Zone <br />and contains an estimate of the costs of the Project totaling <br />$6,571,627.00. The.Developer desires to proceed with the con- <br />struction of the Project in order to facilitate the development <br />of the area within the Reinvestment Zone provided that the costs <br />of the Project are reimbursed by the City from the Tax Increment <br />Fund established for the Reinvestment Zone. The City is willing <br />for the Developer to proceed with the construction of the Project <br />and is willing to reimburse the costs thereof from said Tax <br />Increment Fund upon the terms and conditions described herein. <br /> AGREEMENT <br />For and in consideration of the mutual promises, covenants, obli- <br />gations and benefits of this Agreement, the City and the Devel- <br />oper contract and agree as follows: <br /> ARTICLE I <br /> Construction of the Project <br /> <br />Section 1: The Project. The construction of the Project shall <br />be divided into two phases, as described in the Plan set forth in <br />the Plan booklet dated February 6, 1985. The Facilities to be <br />included in each phase of the Project are generally described in <br />the Plan, but specific Facilities may be changed or modified with <br />the mutual consent of the parties. <br />Section 2: Design and Approval. The Developer will retain <br />engineers for the design of the Project. All improvements will <br />be designed in accordance with applicable rules, regulations, and <br />standards of the City, Hays County, and all other local, state <br />and federal agencies having jurisdiction. All contracts entered <br />into by the Developer in connection with construction of the <br />Project, including engineering contracts, shall be submitted to <br />the Board of Directors and the City. In addition, all plans and <br />specifications for improvements comprising the Project shall be <br />submitted to the Board of Directors and the City. All permits or <br />licenses necessary for construction of the Project will be ac- <br />quired by the Developer. <br />Section 3: Construction. Upon completion of the design of a <br />Facility, and after receiving all necessary permits and licenses <br />required by Section 2 above, the Developer will proceed with con- <br />struction of such Facility. All Facilities comprising the <br /> -2- <br />