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(ii) Upon the closing of the Ivy Tower Building Purchase by Union Station or its affiliate, provide three million five hundred thousand dollars ($3,500,000) of improvements to structurally stabilize the building to allow for its reuse ( "Ivy Tower Improvements "). (iii) Work with Union Station or its affiliate on planning the Ivy Tower Improvements in order to best adapt the Ivy Tower Building as a collaborative multi- tenant facility to revitalize the Renaissance District. Section 2. Union Station Commitments. The Union Station agrees with the Commission as follows: (a.) Phase II Commitments. (i) Take all reasonable steps to close on the purchase of the Ivy Tower Building to facilitate the USTC, as well as to provide an opportunity for other businesses to expand and relocate within the Ivy Tower Building, including but not limited to, providing the Commission with a Business Plan which shows the cooperative reuse of multiple businesses within the Ivy Tower Building, as well as providing reasonable space within the Ivy Tower Building for use by the Commission and other public agencies. (ii) Make no less than $1,000,000 in improvements each year in the Renaissance District for a ten (10) year period, and provide the Commission on an annual basis with proof of compliance with this Commitment. (iii) To secure a return to the Commission for its Commitment, in Section I (a)(ii), Kevin M. Smith shall guarantee Union Station will make no less than Three Million Five Hundred Thousand and 00/100 ($3,500,000.00) Dollars in improvements in the Renaissance District over a five (5) year period. In the event Union Station fails to make such improvements, the Commission without any prejudice to enforce the Agreement against Union Station, may only enforce this Agreement against Kevin M. Smith for any deficiency in the required amount of improvements over the five (5) year period. (iv) Provide the Commission with an annual report concerning the progress of Union Station's Phase II Commitments. To the extent possible, this report shall be at a regularly scheduled Commission meeting. Section 3. Notices. Any notices, requests, or other communications required or permitted to be given hereunder shall be in writing and shall be either (i) delivered by hand, (ii) mailed by United States registered mail, return receipt requested, postage prepaid, (iii) sent by a 2