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2.02 Provision of Documents. The Commission agrees to provide the University with copies of any ordinances, resolutions, agreements or other documents that relate to this Agreement. ARTICLE III. REPRESENTATIONS AND COVENANTS OF THE COMMISSION AND THE UNIVERSITY 3.01 Amendment to MOU. The City, the Commission and the University shall amend the MOU (the "MOU Amendment"), which currently allocates the CTP Revenues equally between Innovation Park and Ignition Park until each receives $2.5 million of CTP Revenues. Under the MOU Amendment, the University will consent to adjust this allocation such that Ignition Park shall receive an aggregate amount of $3,200,000 of CTP Revenues and Innovation Park shall receive the balance of CTP Revenues not to exceed the amount of $1,800,000. CTP Revenues above $5,000,000 will be allocated pursuant to the MOU Amendment. 3.02 Equipment Lease Agreement. The Commission shall use its best efforts to acquire the Equipment, to be funded through TIF Revenues from the Area, pursuant to the Act and subject to further requirements of Indiana law with the assistance of the University, at a cost not to exceed $5,500,000. In connection therewith, the Commission and the University 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 the University to enter into an Equipment Lease Agreement in substantially the form on the attached Exhibit A (the "Equipment Lease Agreement"). The Equipment Lease Agreement shall, among other things, provide for the lease of the Equipment by the University from the Commission, at a rental payment amount that is based upon the University's agreement to undertake the Project and create the jobs as set forth herein. The Equipment Lease Agreement shall provide (i)that the University shall prepay any and all amounts due under the Equipment Lease Agreement, (ii) that all amounts due under the Equipment Lease Agreement shall not exceed $2,750,000, unless the University defaults under the terms of the Equipment Lease Agreement, and (iii) that the University shall have an option to buy the Equipment as provided in the Equipment Lease Agreement. 3.03 Acknowledgement and Representations of the University. The University acknowledges that the Commission is committing TIF Revenues from the Area for the purchase of the Equipment upon the representation of the University that the University shall (i) upon the Commission's acquisition of the Equipment and the delivery of the Equipment, prepay to the Commission any rent due and owing under the Equipment Lease Agreement, in the amount of $2,750,000, (ii) promptly proceed with the Project by negotiating a lease with a landlord for the Project Site, and (iii) will create 57 new jobs=within St. Joseph County, with expected average hourly wages of between Eighteen Dollars ($18) per hour and Twenty-Eight Dollars ($28) per hour. Any failure of the University to provide the stated number of jobs at the stated hourly rates shall be considered a default under this Agreement and under the Equipment Lease Agreement. Any failure by the University to have the Project operational by December 31, 2018, pursuant to this Section 3.03 may be considered by the Commission a default under this Agreement and under the Equipment Lease Agreement. The obligations of the University to have the Project operational 3