11-13-2002 Council Agenda - Laserfiche WebLink

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terms and provisions of this Agreement or the provisions of any applicable federal, state or local laws, ordinances or regulations. 6.2. Compliance with Governmental Regulations. The Developer must obtain, in a timely manner, all governmental approvals, licenses and permits required for the lawful construction of the Minimum Improvements on the Development Property including, but not limited to, all zoning, subdivision, site plan/building design, grading and construction approvals and permits the City's ordinances require, and the Developer must comply with all requirements of any applicable federal, state or local laws, ordinances or regulations applicable to the constriction of the Minimum Improvements. 6.3. Commencement and Completion of Construction. Subject to Unavoidable Delay, the Developer must commence construction of the Minimum Improvements on the Development Property by the earlier of: the date X10 business days after the City issues a Building Permit to the Developer, if the Developer applies for a Building Permit prior to the GityEDA's conveyance of the Development Property to the Developer; within 30 days of the C—i4yEDA's conveyance of the Development Property to the Developer; or on such other date as the Developer and the Gi-t-yEDA may mutually agree in writing (the "Constriction Commencement Date "). Subject to Unavoidable Delay, the Developer must substantially complete the Minimum Improvements, as evidenced by the Developer's satisfaction of all requirements for and the City's issuance of a Certificate of Occupancy, on or before July 1, 2004 (the "Construction Completion Date "). The Developer must construct the Minimum Improvements in substantial conformance with Construction Plans the GityEDA has approved. The Developer agrees to permit designated representatives of the City to enter upon the Development Property during construction of the Minimum Improvements to confirm the Developer's construction of the Minimum Improvements conforms to the Construction Plans. The Developer to secure the Developer's performance of its obligation to substantially complete the Minimum Improvements, the Developer must obligate its contractor to obtain a performance bond in at least the amount of $ .7.000.000. The performance bond must name the Developer-Is-header and the holder of the First Mortgagee, Glaser Financial Group, Inc. as ebligeeobliv fees. The Developer is not obligated to obtain a performance bond naming the Gi -tyEDA as obligee. 6.4. Certificate of Occupancy. The City agrees it will rtifixate -e-f Occupancy for Miner _ _ _ _ except for landscaping pcavidedEDA agrees that if the Developer provides the EDA or the City with a bond or other guarantee satisfactory to the City insuring the Developer "s subsequent completion of al-- required landscaping the Developer is not required to complete the required landscapnng to satisythe requirements for the City's issuance of a Certificate of Occupancy_ for purposes of Section 6.3 above. 6.5. Modification of the Construction Plans. If the Developer desires to make any material change to the Construction Plans after the CityEDA has approved the Construction Plans, the Developer must submit the proposed change to the GityEDA for 1428086vdoc Red (V8 to V7) -8-