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- 3 - <br /> Run shall have any further obligation to one another under any of the following terms <br /> of this Agreement, and it shall thereafter become unenforceable as to City and Pheasant <br /> Run. <br /> 5. If Tax Credits are reserved by the Authority for the Project on or before <br /> September 17, 1994, Pheasant Run shall: <br /> (a) Not later than December 15, 1994 deposit with Calumet Federal Savings <br /> and Loan Association, of Calumet City, Illinois, the sum of $255,000, to be held in <br /> escrow by that Association or another federally licensed financial institution doing <br /> business in Illinois and disbursed to City as follows: <br /> (i) $85,000 on the date deposit is made in escrow by Pheasant <br /> Run; and <br /> (ii) $85,000 upon written direction to the Association by City's <br /> Project Engineer that Neeley Avenue has been improved, <br /> upgraded and available for access from Mound Road to the <br /> Project; and <br /> (iii) $85,000 upon written direction to the Association by City's <br /> Project Engineer that Ash Avenue has been completed and <br /> available for access from Martin Luther King, Jr. Drive to <br /> the northeast comer of the Premises. <br /> The sum of $255,000 shall be the total contribution of Pheasant Run to the City <br /> for improvements to, or construction of Neeley Avenue and Ash Avenue, including storm <br /> sewers, sidewalks and the extension of water mains therein, as such improvements are <br /> described on Exhibit B attached hereto. The specifications, scheduling of work and <br /> manner of completion of the work shall be under the control of the Ciry's Director of <br />