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April 30 of each year, beginning April 30, 2014, of any Development Delay Fee due on the next following July 5 and January 5. (e) Notwithstanding any provision in this Agreement to the contrary, in no event shall (i) the total Development Delay Fee to be paid by Developer under this Agreement exceed the lesser of $1,000,000 or that amount, if exceeded, which would result in the loss of exclusion from gross income for federal tax purposes of interest on the Bonds pursuant to Section 103 of the Internal Revenue Code of 1986 (as amended), (ii) Developer be obligated to pay any fees under this Agreement if the covenants in Exhibit L are not met as a result of Force Majeure or (iii) any Development Delay Fee be due so long as there are funds remaining and unapplied in the Remaining Amount (as later defined), any TIF Revenues are on deposit in the Allocation Fund or there are otherwise adequate TIF Revenues available or reasonably forecasted by the City to be available to service the Bonds and reimburse the City for the Alternative Source Proceeds in accordance with scheduled payments. (f) Subject to applicable law, the City shall refund to Developer any Development Delay Fee paid by Developer pursuant to this Section 4.10 without interest subject to the satisfaction of the following: (i) the TIF Revenues must exceed the amount necessary to (A) pay the debt service on the Bonds; (B) fund the required reserves on the Bonds; (C) reimburse the City for the Alternative Source Proceeds in accordance with scheduled payments; and (D) reimburse the City for any payments of debt service on the Bonds previously made by the City from sources other than TIF Revenues, excess unspent Bond proceeds, the Remaining Amount or any Development Delay Fee; (ii) the City shall have received a report from its financial consultant (which it shall obtain upon the reasonable request of Developer) (the "TIF Report") projecting that the Assessed Valuation will be sufficient going forward to generate TIF Revenues in amounts equal to or in excess of the amount necessary to pay debt service on the Bonds; and (iii) the Developer shall have satisfied its obligations with respect to the Private Investment under this Agreement. 8. Notwithstanding anything contained in the Development Agreement to the contrary, including anything contained in Article V thereof, the Parties hereby agree that Developer shall undertake the completion of those certain remaining Public Infrastructure Improvements set forth on Exhibit C -1 attached hereto and made a part hereof (the "Remaining Infrastructure Improvements ") subject to the following terms and conditions: a. The Parties acknowledge that in connection with certain construction activities relating to the Public Infrastructure Improvements performed on behalf of the Redevelopment Authority, Developer has received insurance settlement proceeds in the amount of $223,908.58 (the "Insurance Funds ") and the Dedication Funds (as later defined) amounting to $214,573.09 (the Insurance Funds and the Dedication Funds collectively referred to as the "Infrastructure Funds "). In consideration of Developer's agreement to undertake the completion of the Remaining Infrastructure Improvements, the Insurance Funds are hereby assigned to Developer. Developer shall have the right to -4-