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�..--�—�-,tir,r« s��'+-♦.,�r�� ••rtr�r7LN. �•�..<<��r•+� F- � (�� At least every other month, commencing on June 1, 2004. Redeveloper shall provide the C:ity �vith written reports as to the Redeveloper's progress in assembling the information anci as�aly�ses necessary to comply with this Agreement and proceed with the Redevelopment. Upon � t�,;:,�r11.�':�1° request oFthe C'ity, Redeveloper also agrees to present verbal reports to the City Council .ii�}ii� �rt��r�css under this Agreement. 8_ Determination to Proceed to Redevelopment Aereement. Upon receipt of all snit�rmation ��ii� documentation required to be provided hereunder, and any additional infor�nation the C'ity ni��y rcyui�e, the City shall review the sa�ne and determine whether it desires to proceed to work with Redeveloper to negotiate a Redevelopment Agreement relative to the Redevelopment Area. Suct� determination shall be in the sole discretion of the City. Unless sooner tem7inated pursuant to Section 14, if the City determines that based upon the information provided or based upon a S��ilure hy Redeveloper to provide required information, to make satisfactary progress toward the ii��71; iiy��-i�:ii �tyii ofthe Redevelopment or to othenvise perfonn its a�ligations hereunder, it is not in i�s l�est interests to continue to work with Redeveloper, it shall so i�otify Redeveloper, whereupon this �;�i�_��i��t nl �li,�ll Eermin�►tc upon the expiration of the Temi (as defined in Section 14) and, neit�icr party sltal! h��ve any rights or obligations, including, without i:r.ti��;.�!it�i7, any obligation for reimbursements �'ar costs incurred hereunder, to the other party or to a third party under this Agreement. 'l�l�e parties agree that the execution of a Redevelopment Agreerrtent shall be subject to: (i� A�etem�ination by the City, in its sole discretion, that its undertakings are liaaarycialiy 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. — �. Redevelopment �� -�E�E�riR-s�. Assuming the completion of the work described above — and the resolution 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 #erms and ! conditions for the redevelopment of the Redevelopment Area and it will be necessaty for Redeveloper and the City to address, among other issues, the following: (i� Type, quantity and quality of the minirnurra improvements (��} Timing of the acquisition by the City ��nd Redeveloper of �arcels for various phases. (iit} Timing of construction of the minimum improvements of the intended phases or portions ofthe phases. (iv� Payment by Redeveloper for the Redevelopment Area �