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(�� At least every other month, commencingon June 1,2004, Redeveloper shall provide the City with written reports as to the Redeveloper's progress in assemblingthe information and analyses necessary to comply with this Agreement and proceed with the Redevelopment. Upon reasonable request of the City, Redeveloper also agrees to present verbal reports to the City Council about progress under this Agreement. 8. Determination to Proceed to Redevelopment Aweement. 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 determination sha11 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 Redeveloperto providerequired information, to make satisfactoryprogresstoward the implementation of the Redevelopment or to otherwiseperform its obligationshereunder, 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 RedevelopmentAgreementshall be subjectto: (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(sl. Assumingthe 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 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. (�ii� Timing of construction of the minimum improvementsof the intended phases or portions of the phases. (iv) Payment by Redeveloper for the Redevelopment Area. �