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BROOKINGS-TWIN CITIES DEVELOPMENT PROJECT AGREEMENT <br />The Participant Election Share may be subject to adjustment pursuant to the conditions <br />set forth in the following three paragraphs. <br />1. The Participant Election Share is subject to adjustment pursuant to Section 802 <br />Participant Default, as set forth in this Agreement, and as further provided for in this <br />Attachment 3. <br />• With respect to a Agency Participant Default pertaining to the payment <br />of CMMPA Debt Related Monthly Development Project Costs, the <br />non-defaulting Agency Participant Election Share shall be <br />automatically increased for the remaining term of this Agreement pro <br />rata with that of the other non-defaulting Agency Participant(s) and the <br />defaulting Agency Participant's(s') Election Share(s) shall be reduced <br />correspondingly; provided the following; (i) no such increase in the <br />Agency Participant's Election Share shall exceed 35% (accumulatively <br />for all payment defaults under this Agreement) of the Agency <br />Participant's initial Election Share prior to such increases; and (ii) that <br />no such reduction shall reduce the defaulting Agency Participant's(s') <br />obligations under paragraph (b) of Section 802 of this Agreement. <br />Open Participant Election Shares shall not be subject to adjustment for <br />non-payment by an Agency Participant of CMMPA Debt Related <br />Development Monthly Project Costs. <br />• With respect to a Participant Default pertaining to the payment of <br />Non-Debt Related Monthly Project Costs, the non-defaulting <br />Participant Election Share shall be automatically increased for the <br />remaining term of this Agreement pro rata with that of the other non- <br />defaulting Participant(s) and the defaulting Participant's(s') Election <br />Share(s) shall be reduced correspondingly; provided the following; (i) <br />no such increase in the Participant's Election Share shall exceed 35% <br />(accumulatively for all payment defaults under this Agreement) of the <br />Participant's initial Election Share prior to such increases; and (ii) that <br />no such reduction shall reduce the defaulting Participant's(s') <br />obligations under pazagraph (b) of Section 802 of this Agreement. <br />• With respect to an Open Participant Default pertaining to the payment <br />of Monthly Development Project Capital Costs, the non-defaulting <br />Open Participant Election Share shall be automatically increased for <br />the remaining term of this Agreement pro rata with that of the other <br />non-defaulting Open Participant(s) and the defaulting Open <br />Participant's(s') Election Share(s) shall be reduced correspondingly; <br />provided the following; (i) no such increase in the Open Participant's <br />Election Share shall exceed 35% (accumulatively for all payment <br />C:1Documents and Settings\Bryan\Local Settings\Temporary Internet Files\OLK53\Cap X Brookings 2-12-07 34 <br />clean.doc <br />