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7.3 Use of Pre's. Park Acquisition Account. All money credited to or at any time held <br />in the Pre's Park Acquisition Account will be used solely for the following purposes: <br />7.3.1 To be invested in any manner permitted for surplus funds of the Cit}~, <br />provided that no moneys will be invested in any manner that would make <br />them unavailable for use when required to make payments of principal or <br />interest under the ODOT Contract; <br />7.3.2 To make payments of principal and interest required under the ODOT <br />Contract; and <br />7.3.3 If, due to Benefactor's default in payinents hereunder and the City's inability <br />to find other sources of funding for purchase of the Property, the ODOT <br />Contract is terminated other than by payment of all of the principal and <br />interest due thereunder; ;ihe City may transfer any money remaining in the <br />Pre's Park Acquisition Account to any other capital projects account(s) <br />within Fund 724 and the Pre's Park Acquisition Account shall be closed. <br />7.3.4 After the final payment of all principal and interest due under the ODOT <br />Contract, any money remaining in the Pre's Park Acquisition Account, or <br />credited thereto, will be disbursed as follows: <br />i) If Benefactor has made all payments pledged by Benefactor <br />hereunder, all remaining money will be distributed to the written <br />order of Benefactor, or <br />ii) If Benefactor has not made all payments promised by Benefactor <br />hereunder, all remaining money will be transferred to the City's Fund <br />724, and may thereafter be used by the City for any lawful purpose. <br />Following the distribution or transfer of all excess money as provided above, <br />-- the Pre's Park Acquisition Account will be closed. <br />Notwithstanding the foregoing, if Benefactor fails or refuses to provide <br />writteri notice to the City as to his order for distribution within ninety (90) <br />days after the date on which City notifies Benefactor of the availability of <br />excess funds under this Section 7.3.4, the City shall transfer the excess funds <br />as provided in clause {ii). <br />8. Title to Property;_ No Ri~hts in Benefactor. Benefactor acknowledges and agrees that title <br />to the Property shall be transferred solely to the City and Benefactor shall take no right, title <br />or interest therein. Benefactor shall have no right to occupy, control or use the Propert} <br />other than as a member of the public. Benefactor is not intended to be a beneficiary of the <br />ODOT Contract and shall have no rights under, or interest in, the ODOT Contract. <br />Agreement for Acquisition and Development of Pre's Rock Park - Page 4 <br />