Creating an Industrial Development Fund

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of State Road 23 and new Maple Road and at the intersection of State Road 23 and Olive. The City will apply for State funds for the construction of the traffic signals. Should State funds not be made available to the City for this purpose or should the State make funds available to pay only a portion of the cost of construction, the cost of construction or, in the case of receipt of partial funding from the State, the difference between the amount received in State funds and the costs of construction shall be paid by the City. The Common Council of the City shall pass a resolution on October 9, 1981, authorizing the City to apply for State funds. F. The above described off -site improvements to be con- structed by the City shall be initiated and completed consistent with a schedule of construction to be mutually agreed to by the parties within sixty (60) days of the execution of this agreement by all parties. The agreement shall be in writing and shall be in- corporated herein as a part of this agreement. G. None of the construction activities to be conducted by the City as described above in paragraphs A through F, shall be in- itiated prior to the written certification to the City by New Energy of the receipt of its final United States Department of Energy loan guarantee commitment. 2. The City, by and through its Board of Public Works, shall pass the needed improvement resolution for the off -site construction activities described in paragraphs 1(A) through 1(E) herein no later than October 9, 1981. A copy of the improvement resolution is attached hereto and incorporated herein as a part of this agreement. 3. The City, by and through its Board of Public Works and Common Council, will enter into an agreement with St. Joseph County, Indiana, for the construction and maintenance of new Maple Road. The agreement, to be entered into under the provisions of I.C. 36 -1 -7 -9 and 36- 1 -7 -10, shall provide that a new Maple Road will be con- -5-