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use the total amount of the Infrastructure Funds in order to complete the Remaining Infrastructure Improvements in accordance with Exhibit C -1 hereof (the "Cost Schedule "). The Parties hereby agree that the total amount necessary to complete the Remaining Infrastructure Improvements is $260,095.79 after Draw #1 and Draw #2 per the Cost Schedule. b. The Developer agrees to undertake the completion of the Remaining Infrastructure Improvements and hereby agrees to utilize the Infrastructure Funds to do so. Subject to Developer's prior expenditure of all of the Insurance Funds in accordance with the Cost Schedule, Developer shall draw upon the Dedication Funds for the completion of the Remaining Infrastructure Improvements. Until final completion of the Remaining Infrastructure Improvements, Developer shall provide the City with a semi- annual report detailing the components of the Remaining Infrastructure Improvements completed since the last report and the amounts of the Insurance Funds and the Dedication Funds used in connection with such completion and requesting the right to apply the Infrastructure Funds to defray the cost of completing such components, which request the City shall not unreasonably withhold or delay. If Developer does not receive notice of a denial of such request within fifteen (15) days after the delivery of the report, the request shall be deemed approved. The Developer agrees to complete the Remaining Infrastructure Improvements by December 31, 2015. C. The Parties hereby agree that from and after the Effective Date, the Construction Management Agreement shall be terminated and of no further force and effect. d. Subject to the Parties execution and delivery of this Amendment and the compliance therewith by the City and the Redevelopment Authority, the Redevelopment Authority shall be relieved from any and all further obligations under the Development Agreement to complete the remaining Public Infrastructure Improvements. 9. Notwithstanding anything contained in the Development Agreement to the contrary, if annual TIF Revenues for any year during the Term exceed the amount necessary to (hereinafter, "Excess TIF Revenues "): (i) pay the annual debt service and related paying agent fees on the Bonds; (ii) fund the required reserves on the Bonds; and (iii) reimburse the City for the Alternative Source Proceeds in accordance with scheduled payments for the applicable year, such Excess TIF Revenues shall be held by the Commission on deposit in the Allocation Fund for Allocation Area No. 2 and used solely (until receipt of the TIF Report) when necessary to make debt service payments to compensate for any TIF Revenue shortfalls, if any, which may occur in any subsequent year of the Term. The Parties agree that the Allocation Fund has a balance as of October 31, 2013, of $1,416,139 (which is net of the amount of $214,573.09 to be paid by the Commission pursuant to Section 9 hereof). Upon receipt of the TIF Report, the Commission may use Excess TIF Revenues for any purpose permitted by law after the Commission has refunded to the Developer any Development Delay Fee paid by the Developer as set forth in Section 4.10(f) of the Development Agreement as amended hereby. 10. Developer agrees that the consideration referenced in Section 6.4 of the Original Development Agreement to be paid to Developer or its affiliate for dedication of right -of -way -5-