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8. Determination to Proceed to Redevelopment A~reemcnt. Upon receipt of all information and documentation required to be provided hereunder, and any additional information the City may require, the City shall review the same and determine whether it desires to proceed to work with Redeveloper to negotiate a Redevelopment Agreement relative to the Redevelopment Area. Such deternination shall be in the sole discretion of the City. Unless sooner terminated pursuant to Section 14, if the City determines that based upon the information provided or based upon a failure by Redeveloper to provide required information, to make satisfactoryprogress toward the implementation of the Redevelopment or to otherwise perform its obligations hereunder, it is not in its best interests to continue to work with Redeveloper, it shall so notify Redeveloper, whereupon this Agreement shall terminate upon the expiration of the Term (as defined in Section 14) and, neither party shall have any rights or obligations, including, without limitation, any obligation for reimbursements for costs incurred hereunder, to the other party or to a third party under this Agreement. The parties agree that the execution of a Redevelopment Agreement shall be subject to: (i) A determination by the City, in its sole discretion, that its undertakings are financially feasible and in its best interest, and (ii) A determination by Redeveloper, in its sole discretion, that its undertakings are financially feasible and in its best interest. 9. Redevelopment Agreement(s). Assuming the completion of the work described above and the resohition of any other issues contemplated by this Agreement, then by March 31, 2005, Redeveloper and the City intend to execute a Redevelopment Agreement (or the first of a series of Redevelopment Agreements). The Redevelopment Agreement will include all of the terms and conditions for the redevelopment of the Redevelopment Area and it will be necessary for Redeveloper and the City to address, among other issues, the following: (i) Type, quantity and quality of the minimum improvements. (ii) Timing of the acquisition by the City and Redeveloper of parcels for various phases. (iii) Timing of construction of the mini.mum improvements of the intended phases or portions of the phases. (iv) Payment by Redeveloper for the Redevelopment Area. (v) Security to be furnished to the City by Redeveloper to protect the City's financial investment in the Project, which may include letters of credit or similar guarantees and assessment agreements. (vi) Timing and payment for public improvements, including the use of special assessments. 6