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<br /> MO~ 10:52 FAX 15123933983 S. }I. LEGAL DEPT. 141003 <br /> 04106/98 <br /> W. Paul Reed <br /> Page 2 <br /> April 14, ] 998 <br /> The City agrees to execute the Ad~ce Funding Agreement, to make payments to the State as pass- <br /> throughs of payments made by SMFS to the City, and to coordinate the construction of the Project <br /> with the State. The City also agrees to refund to SMFS any amount refunded by the State to the City <br /> as a result of the trUe-up of Project costs within 10 days of the City's receipt oflhe refund from the <br /> State. <br /> The City further agrees at no cost to SMFS, to timely perfonn its obligations as set forth in the <br /> Advance Funding Agreement, and 10 use its best efforts to assure that the Project is completed on <br /> or before April 14, 2001. <br /> Please execute both originals of this letter and return one to me. Thank you for your cooperation. <br /> Sincerely, <br /> tJf-o 4 ,Ó}J\:, <br /> Larry D. Gilley <br /> City Manager <br /> Accepted and Agreed to: San Marcos Factory Stores, Ltdo <br /> By: Prime Retail, L.P., its general partner <br /> By: Prime Retail, Inc., its general partner <br /> By: ~Æ?~ <br /> <br /> T <br /> Title <br /> APR 06 1998 11:56 15123933983 PAGE. 03 <br />