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interest on the TIF Note. If, on any Note Payment Date, the Tax Increments for the payment of <br /> the accrued and unpaid interest on the TIF Note are insufficient for such purposes, the difference <br /> shall be carried forward, without interest accruing thereon, and shall be paid if and to the extent <br /> that on a future Note Payment Date there are Tax Increments in excess of the amounts needed to <br /> pay the accrued interest then due on the TIF Note. <br /> (6) The City's obligation to make payments on the TIF Note on any Note <br /> Payment Date or any date thereafter shall be conditioned upon the requirements that: (A) there <br /> shall not at that time be an Event of Default that has occurred and is continuing under this <br /> Agreement and (B) this Agreement shall not have been rescinded pursuant to Section 4.2(2). <br /> (7) The TIF Note shall be governed by and payable pursuant to the additional <br /> terms thereof, as set forth in Exhibit B. In the event of any conflict between the terms of the TIF <br /> Note and the terms of this Section 3.2, the terms of the TIF Note shall govern. The issuance of <br /> the TIF Note pursuant and subject to the terms of this Agreement, and the taking by the City of <br /> such additional actions as bond counsel for the TIF Note may require in connection therewith, <br /> are hereby authorized and approved by the City. <br /> 7 <br /> 2753452v36 <br />