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moneys in the amount necessary to pay the Eligible Project Costs obligated or to be obligated up <br />to the Maximum Eligible Project Costs are available or are in the process of collection and have <br />been encumbered by the Trustee or such financial .institution to pay such Eligible Project Costs. <br />When such Eligible Project Costs have been incurred and payment requested from the Cofinty by <br />the LPE in form and detail satisfactory to the County, the County shall cause to be delivered <br />checks of the Trustee or such financial institution in payment of the invoices, demands for <br />payment, approved contractors, estimates or other evidence of cost incurrence to the persons or <br />entities entitled to payment in conformity with the encumbrance of funds set forth to pay such <br />obligated Eligible Project Costs. <br /> <br /> Section 3.9. Upon the completion of the Project, the LPE shall make a full and <br />complete accounting to the County of the final Eligible Project COsts. <br /> <br />ARTICLE IV - REPAYMENTS BY LPE <br /> <br /> Section 4.1. Subject to the further provisions hereinafter set forth, the LPE agrees <br />to and shall pay to the County the following: <br /> <br /> (a) the total amount of the Land Disposition Proceeds if the LPE conveys the <br /> Project Site or determines to retain the Project Site before the First Payment <br /> Date, such payment to be made within thirty (30) days following such <br /> conveyance or determination. <br /> <br /> (b) if the LPE conveys the Project Site or determines to retain the Project Site <br /> after the First Payment Date, the total amount of the Land DisPosition <br /> Proceeds minus the principal amount attributable to the Land Disposition <br /> Proceeds in the LPE Loan Repayment Amounts received by the County from <br /> the LPE prior to such conveyance or determination, such payment to be made <br /> within thirty (30) days following such conveyance or determination. In any <br /> event, the LPE shall pay the Land Disposition Proceeds no later than the <br /> Investor Loan Repayment Date specified in the Term Sheet. <br /> <br /> (c) the total amount of the PRP Proceeds if the LPE receives the PRP Proceeds <br /> before the First Payment Date, such payment to be made within thirty (30) <br /> days following such receipt. <br /> <br /> (d) if the LPE receives the PRP Proceeds after the First Payment Date, the total <br /> amount of the PRP Proceeds minus the principal amount attributable to the <br /> PRP Proceeds in the LPE Loan Repayments Amounts received by the County <br /> from the LPE prior to such receipt, such payment to be made within thirty <br /> (30) days following such receipt. <br /> <br /> (e) semi-annually on June 1 and December 1 of each year of the Contract Period <br /> of Years, commencing on the First Payment Date (each such date a "Due <br /> Date"), but solely from the Pledged Nontax Revenues, one-half of the LPE <br /> Loan Repayment Amount. <br /> <br /> In the event that the LPE pays less than the full amount due hereunder on an~ <br />Due Date, then the amount so paid shall be applied first to interest'payable hereunder, then to. any <br /> <br />B-lO <br /> <br /> <br />