Physical Impossibility or Economic Infeasibility as a result of Property- Specific Matters. Subject to the provisions of Section 5.1(c) below, Redeveloper’s failure or refusal to develop Phase 1 Project shall not constitute a default hereunder if due to physical impossibility of performance or economic infeasibility due to the condition of the property or to regulatory restrictions relating to the condition of the property. By way of example, “physical impossibility of performance” would be an irremediable environmental condition. An example of “economic infeasibility” would be a cost of Remediation of an environmental condition that would significantly and adversely affect the anticipated return of the Phase 1 Project as reflected on the Phase 1 Project pro forma supplied to the Township by Redeveloper, in either case such that redevelopment of the Phase 1 Project on the terms and conditions set forth herein becomes economically irrational or infeasible.
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