Redeveloper’s Covenant to Attempt to Acquire Acquisition Property. The Redeveloper agrees with the Agency and the City that, commencing on the date this Agreement is amended by adding parcels comprising the Acquisition Property to Exhibit A and continuing for a period of three (3) months thereafter, the Redeveloper will make reasonable efforts to acquire privately all or as many as may be reasonably practicable of the individual parcels comprising the Acquisition Property as hereafter may be identified on Exhibit A, upon terms commercially acceptable to the Redeveloper. The Redeveloper shall document its efforts to acquire privately all such parcels and provide such documentation to the Agency. In addition, the Agency shall have the right to attend in all such discussions if it deems such attendance advisable. The Agency and the City agree that, during said period, they will take no action to acquire any Acquisition Property except as requested in writing by Redeveloper. The Redeveloper shall inform the Agency in a timely manner of the status of its efforts to acquire any Acquisition Property, including particularly the terms of any offers and counteroffers made by the Redeveloper or by any property owner and the terms of any agreements that may be made with respect thereto. The Redeveloper may advise the Agency and the City in writing at any time during said period that, in Redeveloper’s opinion, the Redeveloper’s efforts at private acquisition are not likely to result in the acquisition of all of or any particular parcels constituting the Acquisition Property and that Redeveloper is terminating its efforts with respect to said parcels, specifying those parcels with respect to which Redeveloper is terminating its acquisition efforts. Upon receipt of such a notice of termination, the Agency and the City shall prepare to acquire, in the manner hereinafter in Section 7.3 hereof described, all or any of such parcels of Acquisition Property as to which Redeveloper has terminated its acquisition efforts.
