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WHEREAS, pursuant to the provisions of the Tax Increment Act the City will create Tax Increment Financing District 2-BE-W ("Tax Increment District 2-BE-W"), and will adopt a tax increment financing plan (the "Tax Increment District 2-BE- W Plan"); and WHEREAS, pursuant to the provisions of the Tax Increment Act the City will create Tax Increment Financing District 3-B6 ("Tax Increment District 3-B6"), and will adopt a tax increment financing plan (the "Tax Increment District 3-B6 Plan"); and WHEREAS, pursuant to the provisions of the Tax Increment Act the City will create Tax Increment Financing District 3-BlO ("Tax Increment District 3-BlO"), and will adopt a tax increment financing plan (the "Tax Increment District 3-BlO Plan"); and WHEREAS, pursuant to the provisions of the Tax Increment Act the City will create Tax Increment Financing District 4-B3 ("Tax Increment District 4-B3"), and will adopt a tax increment financing plan (the "Tax Increment District 4-B3 Plan"); and WHEREAS, pursuant to the provisions of the Tax Increment Act the City will create Tax Increment Financing Districts l-Bl-2, l-B7, l-B8, l-B9, 2-B4, 2-B5, 2-BE-W, 3-B6, 3-BlO and 4-B3 (individually respectively referred to as "Tax Increment District l-Bl-2, l-B7, l-B8, l-B9, 2-B4, 2-B5, 2-BE-W, 3-B6, 3-BlO and 4-B3" and collectively the "Tax Increment Districts"), and will adopt a tax increment financing plans (individually respectively referred to as "Tax Increment District Plan l-Bl-2, l-B7, l-B8, l-B9, 2-B4, 2-B5, 2-BE-W, 3-B6, 3-BlO and 4-B3" and collectively the "Tax Increment District Plans"); and WHEREAS, the Tax Increment Districts and the Tax Increment District Plans are collectively referred to as the "Tax Increment Financing Plan"; and WHEREAS, in order to achieve the objectives of the Development Plan and particularly to make the land in the Development Project available for development by private enterprise in conformance with the Development Plan, the City has determined to issue the Tax Increment Bonds to finance certain costs of a Project to be undertaken by the Developer; and WHEREAS, a major objective of the Development Plan and Tax Increment Plan is to assist redevelopment and development and prevent the further deterioration of land located within the Development Project; and WHEREAS, the City believes that the development of a certain Project as more fully set forth in this Agreement pursuant to the terms of this Agreement, and fulfillment of this Agreement are vital and are in the best interests of the City and the health, safety, morals and welfare of its residents, and in accordance with the public purpose and provisions of the applicable state and local laws and requirements under which the Project has been undertaken and is being assisted. NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: 4