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13 <br />4. GENERAL RROVTSTQNS. <br />(a) Since it is anticipated that the Acquisition of <br />the Project will commence prior to the sale of the bonds and <br />the Company knows and acknowledges that the Authority will <br />have no funds available to meet the costs'of the Project <br />other than those derived from the sale of the bonds, the <br />Company agrees that it will advance from time to time all <br />funds necessary for the Acquisition of the Project, and such <br />funds when so advanced shall be deemed funds advanced on <br />behalf of the Authority; provided, however, that the <br />Authority shall not by virtue of such advances or otherwise <br />through this Memorandum of Agreement acquire any property <br />interest in the Project whatsoever. To the extent that the <br />net proceeds derived from the sale of the bonds are <br />sufficient for such purpose, the Authority agrees to repay <br />from such net proceeds to the Company all funds so advanced <br />promptly after the sale of the bonds. <br />(b) The Authority and the Company agree that the <br />Company shall provide all services incident to the Acquisi- <br />tion of the Project, including, without limitation, <br />acquisition of land, the preparation of plans, <br />specifications and contract documents, the award of <br />contracts, the inspection and supervision of work performed, <br />the employment of engineers, architects, builders and-other <br />contractors, and the provision of money to pay the cost <br />thereof pending reimbursement by the Authority from such <br />bond proceeds, and the Authority shall have no <br />responsibility for the provision of any such services. <br />(c) All commitments of the Authority and of the <br />Company pursuant to this Memorandum of Agreement are subject <br />to the condition that on or before 365 days from the date of <br />approval of the Project by the Department of Economic and <br />Community Development pursuant to the Act (or such later <br />date as shall be mutually satisfactory to the Authority and <br />the Company), the Authority and the Company shall have <br />agreed to mutually acceptable terms for the bonds and the <br />sale and delivery thereof and mutually acceptable terms and <br />conditions for the agreements referred to in Section 3(c) <br />and the proceedings referred to in Sections 2 and 3 hereof. <br />(d) Notwithstanding any other provision hereof, the <br />term of this Memorandum of Agreement shall be deemed to have <br />been extended for successive 365 -day periods following the <br />expiration of the term set forth in the foregoing paragraph <br />(c) unless and.until either party hereto notifies the other <br />in writing of its election to terminate this Memorandum of <br />Agreement not less than 30 days prior to the expiration of <br />the current 365 -day period. if the events set forth in <br />4 <br />