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i. PEDC shall apply for Community Development Block Grant Funding for <br />the expenses necessary to reconstruct the Rail Lead ("Rail Lead CDBG <br />Funds"). To that end, PEDC has engaged Charles Edwards with Resource <br />Management and Consulting Co. to prepare and submit the CDBG <br />application and oversee the CDBG process. American shall reasonably <br />assist PEDC in making such grant applications and provide advice on any <br />technical requirements. The Parties acknowledge that a portion of the <br />Rail Lead lies within a flood plain and that Rail Lead CDBG Funds may not <br />be available for reconstruction of rail lying within a flood plain. The <br />Parties further acknowledge the possibility that PEDC's application for <br />Rail Lead CDBG Funds will be denied in whole or in part. <br />ii. The PEDC shall make available up to One Million Dollars ($1,000,000.00) <br />towards the Total Rail Lead Reconstruction Expenses. Any Rail Lead <br />CDBG Funds sourced by the PEDC and spent on Rail Lead reconstruction, <br />shall be considered funds "made available", in satisfaction of PEDC's <br />obligations set forth in the preceding sentence. <br />iii. In the event the Total Rail Lead Reconstruction Expenses exceeds One <br />Million Dollars ($1,000,000.00), the PEDC shall have no further financial <br />obligation in connection with the Rail Lead's reconstruction. <br />iv. PEDC's commitment in this Section 3.6 is to provide funding to <br />reconstruct the rail lead to the Kiamich Railroad's minimum applicable <br />safety, engineering, and construction standards. <br />B. The Parties recognize that the restoration and reconstruction of the Rail Lead <br />is subject to the approval of Kiamichi Railroad and PEDC. American <br />acknowledges that an agreement between the PEDC and Kiamichi Railroad <br />will likely be required in order for the Rail Lead reconstruction to commence. <br />The PEDC shall use its best efforts in pursuit of such agreement and <br />American shall provide its support in pursuit of any such agreement, up to <br />and including participating as a signatory on any such agreement. <br />C. The City of Paris shall use best efforts to assist in any local permitting or <br />approvals required in connection with the restoration of rail service to the <br />Property line. <br />D. Once the rail reconstruction is complete, American and PEDC will execute a <br />triple net lease substantially in the form attached hereto as Exhibit I and <br />incorporated herein by reference. <br />32300891 00 1 <br />