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t'> WHEREAS, in order to fully develop the Project, the University requires certain equipment (the "Equipment"), which will be more particularly described in the Equipment Lease Agreement (defined below), to be used in connection with the Project; and WHEREAS,to facilitate the acquisition of the Equipment and the use of the Equipment by the University, the Commission has agreed to use its best efforts to take the actions described herein, subject to further proceedings required by law, to acquire the Equipment pursuant to the Act in the amount not to exceed$5,500,000 from TIF Revenues (as defined below), and lease the Equipment to the University as set forth herein; and WHEREAS, to stimulate and induce the development of the Project, subject to further proceedings as required by law, the Commission has agreed to provide an economic development incentive consisting of the acquisition and leasing of the Equipment as set forth herein; and WHEREAS, the Commission has determined that the completion of the Project is in the best interest of the Area, the District and the citizens of the City, and, therefore, the City and the Commission desire to take certain steps in order to induce the University to develop the Project; and WHEREAS, the University has agreed to (i) undertake the Project as set forth herein, (ii) create the jobs provided herein, and (iii) lease the Equipment under the terms set forth herein, in reliance upon the representations, warranties, covenants and agreements of the Commission set forth herein. 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 Agreement. The covenants and recitations set forth in the foregoing recitals are material to this Agreement, and the parties are relying on such covenants and recitations, and are hereby incorporated into and made a part of this Agreement 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, including the execution and delivery of such documents, instruments, petitions and certifications (and, in the case of the Commission, the adoption or recommendation of such ordinances and resolutions), as may be necessary or appropriate,from time to time,to carry out the terms, provisions and intent of this Agreement and to aid and assist each other in carrying out said terms, provisions and intent. 2