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including by way of example and without limitation ensuring that the land for the Project is not conveyed until all prerequisites to conveyance have been met, ensuring that the Project is timely developed according to the mutually approved designs and plans, and ensuring that the Project, once completed, is operated as required. 1.2 Cooperation With the City. The IDA shall keep the City fully and timely informed of its actions taken pursuant to the Development Agreement and shall timely make request of the City of any financial, administrative, or regulatory approval which will be required of the City in order for the IDA to meet its obligations to Ocean Marine under the Development Agreement. 1.3 IDA Financial Responsibilities. The IDA shall be financially prudent in the performance of its duties and the exercise of its rights and powers under the Development Agreement. ARTICLE II OBLIGATIONS OF THE CITY 2.1 Financial obligations. The City shall provide to the IDA such financial assistance, if any, is required for the IDA to meet its financial obligations to Ocean Marine under the Development Agreement. 2.2. Conveyance of Land. The City shall convey to the IDA all such real estate and interests in real estate as may be required for the IDA to meet its obligation to convey the site for the Project to Ocean Marine. 2.3 Administrative Obligations. The City shall provide all administrative support reasonably needed for the IDA to meet its obligations to Ocean Marine under the Development Agreement. 2.4. Regulatory Obligations. The City shall take all regulatory actions needed to enable the IDA to meet its regulatory obligations to Ocean Marine under the Development Agreement. 2.5. No Debt of City. None of the obligations imposed by this instrument on the City related to funding (the "City Financial Duties") which derive or arise from the Development Agreement will become obligations or legal duties, whether direct or indirect or by estoppel, until such time as the City may approve an appropriation or appropriations sufficient to provide the necessary funding and until such time as the City properly authorizes any debt obligation that may be needed to provide said funding, with said authorization, if made, to be in accordance with the requirements of the Public Finance Act as set forth in the Code of Virginia. This instrument shall not be a debt of the City. -2-