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a. SBHF: Upon execution of this MOU and completion of any conditions precedent to the beginning of construction set forth herein, including but not limited to satisfaction of the requirements set forth in the University's Construction Funding Policy, a copy of which is attached hereto as Exhibit B, SBHF will engage Kil Architecture to provide architectural and engineering services for the Project going forward. Said services shall be paid by the Project Treasurer as herein defined. SBHF will also conduct environmental remediation work at the Hansel Center, hereinafter referred to as Phase I. Phase I shall be completed with the CDBG funds referenced in Sec. lb. below. Upon completion of Phase I, SBHF will transfer the property to the City for completion of its portion of the renovations, hereinafter referred to as Phase II. Upon completion of Phase II, SBHF will receive the property back from the City in order to complete the renovations to the property, hereinafter referred to as Phase III. SBHF shall then transfer the fully- renovated property to the University upon completion of the Project. The University shall facilitate the placement of "all risk ", full replacement cost builder's risk insurance, including building materials, for the Hansel Center for the duration of the Project and shall include the City, SBHF and the University as named insureds under the policy. The cost for this policy shall be identified by the University and paid for using funds raised by the University. b. City: The City shall contribute up to Seven Hundred Ninety -Six Thousand Dollars ($796,000) in TIF funds and One Hundred Thirty -Four Thousand Dollars ($134,000) in CDBG Funds to the Project prior to the transfer of the Hansel Center to the University. The use of the TIF Funds, to the extent permitted by law, will be used to complete Phase II. Upon completion of Phase II, the City will transfer the Hansel Center back to SBHF for completion of Phase III. The City will facilitate all necessary governmental approvals. The City and SBHF will work together to solicit public bids and hire one General Contractor for both Phases II and III of the Project which should facilitate a seamless transition between these two phases. The bids should include a Schedule of Values which coincides with the funds allocated to each phase. The bidding process shall be conducted according to the City's bidding protocol. Change Orders are to be paid for out of the funding allocated for phase III. Change Orders shall not be initiated without Kil Architect's authorization following initial review of cost associated. with such change and authorization by Vanir and UND. C. Vanir: Vanir will donate a combination of Project management services as the Owner's Representative for the University and cash under the condition that the Hansel Center is to be transferred to the University upon completion of the Project. The University and Vanir shall enter into a separate agreement for the project management services to be provided by Vanir. Vanir shall provide the University with a monthly report of budgeted versus non - budgeted costs. Vanir shall have no obligation to perform 3