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� <br /> tU <br /> ,� <br /> (5) Developer eapects io incur interesi casts on funds Developer borz•ows <br /> � in connection with the undertal:ing of the Developmeni Projcet. These <br /> �" iniei•est costs incurred by the Developer shall be deemed Eligible <br /> � Redevelopment Project Costs to the exient permitied by law, io be <br /> �� reimbursed to Developer as provided in and subject to the limitaiions <br /> '�' contained in the Act. The Municipality shall 1•eimbur•se Developer for <br /> � <br /> ��' all construction interest cosis and thirty (30) percent of Developer's <br /> „ long-term intei•esi cosis with a thirty (30) year amortization incurred <br /> =� by Developer on funds bori•owed in connection with the <br /> � radevelopmeni of the Premises, the underlaking of the Project and the <br /> `�' construction of the Premises. <br /> c. Procedure for Reimbursement to Developer <br /> (1) Payments to the Developer (other than debt service on a Note), or <br /> otherwise, including endorsement of the Note, if any, for Eligible <br /> Redevelopment Project Costs shall be made only upon requisitions <br /> therefore (each a "Requisition") submitted from time to time by the <br /> Developer to the Municipality's planning director (the "Director") <br /> and upon approval of the Municipality's City Manager (or the <br /> Municipality's City Manager's designee, as the case may be), and in <br /> each case subject to the availability of funds in the Special Account, <br /> including, as the case may be, if at all, and not otherwise, as set forth <br /> in the Note. <br /> (2) All Requisitions must be accompanied by appropriately supporting <br /> documentation, including, as applicable, verified bills or statements of <br /> suppliers, contractors, or professionals, lien waivers and contractor <br /> affidavits. <br /> (3) The Municipality's City Manager (or designee, as the case may be), <br /> shall approve or disapprove a Requisition by written notice to the <br /> Developer within five (5) business days after receipt of the <br /> Requisition. Approval of a Requisition will not be unreasonably <br /> witl�l�eld. If a Requisition is disapproved, the reasons for disapproval <br /> will be set forth in writing; and the Developer may resubmit the <br /> Requisition with such additional information as may be required, and <br /> the same procedures as set forth herein for initial subinission shall <br /> apply to such re-submittals. <br /> (4) The Municipality and the Developer acicnowledge that the <br /> determination of the qualification of Eligible Redevelopment Project <br /> Costs, the Area and the Redevelopment Plan and Projeci and, <br /> therefore, c�ualification for payment and/or reimbursement under this <br /> Agreement are subject to changes made by amendments to the Act, <br /> and the Municipality has no obligation to the Developer to attempt to <br /> - 14 - <br />