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Attachment B definitive Contract for the Development. 5. It is expressly understood that execution of a definitive Contract for the Development shall be subject to: (a) A determination by the City in its sole discretion that its undertakings are feasible based on (i) the projected tax increment revenues and any other revenues designated by the City (to the extent requested by Developer); (ii) the purposes and objectives of any tax increment, development, or other plan created or proposed for the purpose of providing financial assistance for the Development, if any, including the determination that such assistance is reasonably necessary in order to make the Development possible; and (iii) the best interests of the City. (b) A determination by the Developer that the Development is feasible and in the best interests of the Developer. (c) Successful conveyance of the Authority-owned portion of the Property to the City. 6. This Agreement is effective one-hundred and twenty (120) days after the effective date of this Agreement, unless extended with approval of the city council of the City. After expiration of the term of this Agreement, no party shall have any obligation hereunder except as expressly set forth to the contrary herein. 7. The Developer shall be solely responsible for all costs incurred by the Developer. In addition, the Developer shall reimburse the City for Administrative Costs, as hereafter defined. For the purposes of this Agreement, the term "Administrative Costs" means out of pocket costs incurred by the City together with staff costs of the City, all attributable to or incurred in connection with the negotiation and preparation of this Agreement, a definitive Contract for the Development, and other documents and agreements in connection with the Development, including without limitation all costs in connection with re-platting of the Property, tax increment financing analysis, and the cost of financial advisors, attorneys, and planning and environmental consultants. In order to secure payment of the Administrative Costs incurred by the City during the term of this Agreement, the Developer shall deliver to the Authority cash or a certified check in �he amount of $15,000.00, such delivery to occur upon execution of this Agreement. The City will utilize the funds delivered by the Developer to pay or reimburse itself for Administrative Costs. If Administrative Costs exceed the initial amount paid by the Developer, the Developer shall pay such additional Administrative Costs within 10 business days of a demand by the City evidencing such additional Administrative Costs. Upon termination of this Agreement, the City will return to the Developer the funds paid by the Developer to the City pursuant to this Section 7, less an amount equal to the Administrative Costs incurred by the City through the date of notice of termination, provided that if the parties proceed to the negotiation of the definitive Contract, any portion of the funds delivered by the Developer under this Agreement may be applied to any Administrative Costs incurred in connection with the negotiation and preparation of the Contract and payable by the :�