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Hook : 3759 Rage : 111 <br /> d. Execution and Delivery of Notes ��� <br />� (1) The Municipaliry shall evidence its obligation to reimburse Developer for �I <br /> Eligible Redevelopment Project Costs by the execution and delivery of one i <br /> ' or more Notes upon the first draw request presented by the Developer to the ' <br /> Municipality, which Notes shall be deemed obligations issued by the � <br /> Municipality pursuant to Section 11-74.4-3 of the Act. ALL NOTES SHALL ' <br /> BE PAYABLE SOLELY FROM INCREMENTAL TAXES DEPOSITED <br /> FROM TIME TO TIME INTO THE FUND. � <br /> (2) All Notes shall be secured by a lien on and a pledge of monies deposited <br /> from time to time in the Fund (the "Pledged Monies"). All Notes may be '� <br /> assigned by the Developer to any of its lenders as collateraL , <br /> 4. VERIFICATION OF TAX INCREMENT <br /> It shall be the sole responsibility of the Developer to provide to the Municipality as <br /> requested, the following: <br /> a. The Illinois Business Identification Number of the business or businesses <br /> constituting the Development Project and within the Development Area. <br /> b. Certified copies of all paid real estate tax bills for the immediately preceding real <br /> estate tax year subsequent to the Closing for each tax parcel constituting the <br /> Development Area. <br /> c. The failure of the Developer to provide any information required in this <br /> Agreement shall be considered a breach of this Agreement and shall be sufficient <br /> cause for the Municipality to delay making payments under this Agreement to or <br /> in respect of the Developer until such time as the Developer furnishes the <br /> required information to the Municipality. <br /> 4A. MUNICIPALITY'S AGREEMENT TO CONSTRUCT IMPROVEMENTS <br /> The Municipality further agrees to construct, in strict accordance with Developer's design <br /> requirements and construction schedule, and with its own labor and at its sole expense,: <br /> 1) all sidewalks, streetscapes and landscapes on the North, West and South sides of the <br /> building footprint to be constructed on the Premises and 2) entranceways on the North, <br /> East and South sides of the building parking lot to be constructed on the Premises, <br /> including streetscapes and landscapes adjacent thereto. Said improvements are generally <br /> described in EXHIBIT E hereto. <br /> 4B. RIGHT OF FIRST REFUSAL <br /> Municipality is the owner of certain real estate legally described on Exhibit D hereto (the <br /> `Black's Property"). Municipality agrees that prior to offering its ownership interest in <br /> the Black's Property to anyone not a party to this Agreement, or upon receiving an offer <br /> to purchase its ownership interest in the Black's Property from anyone not a party to this <br /> RDLLC 20060926 v 1 13 <br />