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2 <br />1. Recitals. The recitals set forth above, including each and every recital contained therein, <br />are incorporated into and made a part of this First Amendment as though fully set forth herein. <br />2. Amendments. The Development Agreement is hereby amended as follows: <br />a) In Section 1.4, the text “Thirteen Million One Hundred Thousand Dollars <br />($13,100,000.00)” shall be deleted and replaced with the following: “Eighteen <br />Million Dollars ($18,000,000.00).” <br />b) Section 4.5 shall be deleted in its entirety and replaced with the following: <br />Timeframe for Completion. The Developer hereby agrees to complete the <br />Project and any other obligations the Developer may have under this <br />Agreement in two phases, as described in the Project Plan attached hereto as <br />Exhibit B. Phase I shall be completed no later than June 30, 2026, and Phase <br />II shall be completed no later than June 30, 2027. Each of these dates shall <br />constitute a “Mandatory Project Completion Date” as that term is referenced <br />in the Agreement, and failure to complete the Project or any other obligation <br />the Developer may have under this Agreement by either date shall constitute <br />a default under this Agreement without any requirement of notice or an <br />opportunity to cure such failure. <br />c) Exhibit B (“Project Plan”) shall be deleted in its entirety and replaced with the <br />Exhibit B attached to this First Amendment. <br />3. Entire Agreement; Conflict. Except as otherwise stated herein, all other terms, conditions <br />and agreements contained in the Development Agreement remain unmodified and in full force and effect. <br />To the extent a conflict exists between the terms of this First Amendment and the Development Agreement, <br />the terms of this First Amendment shall control. Capitalized terms used in this First Amendment will have <br />the meanings set forth in the Development Agreement unless otherwise stated herein. <br />4. Counterparts; Electronic or Facsimile Transmission. This First Amendment may be <br />executed in counterparts which, when combined, shall constitute one instrument. The electronic or facsimile <br />transmission of a signed counterpart of this First Amendment shall be binding upon the party whose <br />signature is contained on the transmitted copy. <br /> <br />Signature Page Follows