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J for a portion of the costs of the Equipment pursuant to the Act, and NASBE has agreed, in turn, to complete the Project Upgrades and begin operations, thereby creating the promised jobs, all upon the terms and subject to the conditions set forth herein; and WHEREAS, to provide moneys to pay for a portion of the costs of the Equipment, upon the authorization of the Commission and such other procedures as are required by law, the Commission intends to cause to be appropriated Two Million and No/100 Dollars ($2,000,000.00) of funds payable from existing tax increment finance revenue funds allocable to the Area and already collected and on deposit(the "TIF Revenues"). NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,the parties do hereby agree as follows: ARTICLE I. RECITALS 1.01 Recitals Part of MOU. The recitations set forth in the foregoing recitals are material to this MOU and are hereby incorporated into and made a part of this MOU as though they were fully set forth in this Section 1.01. ARTICLE II. MUTUAL ASSISTANCE 2.01 Mutual Assistance. The parties agree, subject to further proceedings required by law, to take such actions at their own individual expense, including the execution and delivery of such documents, instruments, petitions and certifications (and, in the case of the Commission, the adoption of such resolutions), as may be necessary or appropriate, from time to time, to carry out the terms,provisions and intent of this MOU and to aid and assist each other in carrying out said terms,provisions and intent. ARTICLE III. REPRESENTATIONS AND COVENANTS OF THE COMMISSION AND NASBE 3.01 Equipment Lease Agreement. The Commission shall use its best commercial efforts to acquire the Equipment pursuant to the Act and the requirements of Indiana law with the assistance of NASBE. In connection therewith, the Commission and NASBE shall cooperate together in good faith with regard to the selection and pricing of the Equipment. In conjunction with the Commission's acquisition of the Equipment; the Commission shall undertake a disposition process to permit the Commission and NASBE to enter into an Equipment Lease Agreement in substantially the form attached hereto at Exhibit B. The Equipment Lease Agreement shall, among other things, provide for the lease of the Equipment by NASBE from the Commission, at a rental payment amount that is discounted upon the condition that NASBE completes its Project Upgrade and commences operations, thereby creating the promised jobs during the tenor of the Equipment Lease Agreement. 3.02 NASBE Project Upgrade. NASBE shall promptly begin its Project Upgrade with an initial expenditure of$18,975,000 during 2013 and 2014. Any failure by NASBE to promptly