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chooses not to designate an Escrow Agent, then only one payout will be made upon the Project <br /> completion in compliance with the terms of this Agreement. <br /> (2) Pavouts/Final Pa�ent. Payouts from the City's deposit shall be made <br /> proportionally in the percentage amount stated in Section II.A. with payments made by the <br /> Developer for eligible project costs. The Escrow Agent shall retain at a minimum the sum of <br /> $2,993.20, representing twenty percent(20%) of the total grant amount, for a final payment <br /> under this agreement. Said final payment shall not be made by said Escrow Agent until and <br /> unless the City of Decatur Assistant City Manager of Development Services ar that person's <br /> designee, hereinafter referred to as the "Assistant Manager,"has certified in writing to the <br /> Escrow Agent that the Project has been completed in compliance with the terms and conditions <br /> of this Agreement. <br /> (3) Inspection. To review the progress of the work, the City shall have the <br /> right of entry to the building during normal business hours to inspect on twenty-four (24)hours <br /> notice to the Developer. <br /> (4) Payment Deadline. Any money not paid to the Developer by February 1 g, <br /> 2011, shall be returned to the City. <br /> D. Exemptions, Statements and Assessment Reductions. <br /> (1) Developer Assurance. The Developer covenants for itself, its successors <br /> and assigns, and all successors to the Property as follows: <br /> a. that it shall not apply for, seek or authorize an exemption from the <br /> imposition or payment of the real property tax at the location described in Section A; and <br /> b. that it shall, prior to making an application for an abatement or <br /> assessment reduction from the imposition of the payment of real property tax at the location <br /> described in Section A, provide written notice of the intent to file such an application, and copies <br /> of all supporting documents for such an appeal to the City, c/o Greg Crowe, Assistant City <br /> Manager of Development Services, City of Decatur, One Gary K. Anderson Plaza, Decatur, <br /> Illinois 62523; and <br /> c. that any request for an abatement or assessment reduction as provided <br /> 2 <br />