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(v) Allow South Bend to be competitive on an international scale for the <br />development of advanced energy systems, such as the IC Power System. <br />(vi) Provide a potential of One Hundred Twenty Thousand Dollars ($120,000) <br />in annual net energy savings to City and other governmental agencies' <br />facilities. <br />P. The Parties recognize that: <br />(i.) The City and the Commission must take additional actions in order to <br />implement certain of the initiatives set forth herein including, in some <br />instances, completion of the required statutory and regulatory positions, <br />and the Cities' and the Commissions' obligations hereunder shall be <br />subject to completing such additional actions. <br />(ii.) The obligations of the City and the Commission hereunder are subject to <br />Union Station and /or any of its affiliates fulfilling their respective <br />obligations hereunder; and <br />(iii.) The obligations of Union Station hereunder is subject to the City and the <br />Commission fulfilling their respective obligations hereunder. <br />(iv.) As part of the additional actions required to better define the obligations of <br />the Parties, timetables must be established to govern when each Party must <br />complete their respective obligations under the Agreement. <br />(v) The commitments made in this Agreement for Phase I are binding on the <br />Parties. <br />(vi) Phases II and III are intended to be items for future discussion depending <br />upon the growth and success of Phase 1. <br />NOW THEREFORE, the Parties hereby agree the foregoing Statement of Facts are <br />accurate and incorporated into this Agreement for all purposes and further agree as follows: <br />Section 1. Commission Agreements. The Commission agrees with Union Station as <br />follows: <br />(a.) Phase I Commitments. <br />(i) The Commission shall subject to further proceedings required by law, sell <br />to Union Station for the sum of Forty -two Thousand Five Hundred Dollars <br />($42,500), the Millennium Site, depicted as Item 1 -C on Exhibit 1, and shall take <br />all steps reasonably necessary to support the vacation of United Drive in order to <br />E <br />