Potential redevelopers will be required to enter into a Redevelopment Agreement with the Borough for the purpose of setting forth such details as the Borough and such redeveloper may agree regarding the development or redevelopment of the Redevelopment Area. No application for development or redevelopment of property subject to this Redevelopment Plan may be filed with the Planning Board or the Zoning Board of Adjustment until the applicant has been designated by the Borough as the redeveloper and the applicant has entered into a Redevelopment Agreement with the Borough. Alternatively, any application filed with the Planning Board or Zoning Board of Adjustment regarding development or redevelopment of property subject to this Redevelopment Plan shall be subject to the conditions that the applicant be so designated and enter into such Redevelopment Agreement.