08-22-2001 Council Agenda - Laserfiche WebLink

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pursuant to Paragraph 5 of the Purchase Agreement. Developer must reasonably cooperate with RAB, L.L.C. to plat the Development Property in conjunction with an adjoining parcel RAB, L.L.C. owns or must separately plat the Development Property. Developer must record a plat of the Development Property (which may also include the RAB, L.L.C. property) on or before November 30, 2001. 6.3. Commencement and Completion of Construction. Subject to Unavoidable Delay, the Developer must commence construction of the Minimum Improvements on the Development Property within 30 days of the City's conveyance of the Development Property to the Developer or on such other date as the Developer and the City may mutually agree in writing (the "Construction 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 temporary Certificate of Occupancy on or before December 31, 2001 (the "Construction Completion Date "). The construction of the Minimum Improvements must conform with the Construction Plans as approved by the City. 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. 6.4. Modification of the Construction Plans. If the Developer desires to make any material change to the Construction Plans after the City has approved the Construction Plans, the Developer must submit the proposed change to the City for its review and approval, and the City must approve the proposed change unless the City reasonably determines that, as a result of the proposed change, one or more of the requirements set forth in Section 6.1(a) through 6.1(e) are not satisfied. If the City rejects the proposed change the City must notify the Developer of the City's rejection of the proposed change within ten Business Days of the City's receipt of the proposed change or the City is deemed to have approved the proposed change. 6.5. Certificate of Completion. The Developer must notify the City when the Developer has substantially completed the construction of the Minimum Improvements. The City will promptly inspect Minimum Improvements to determine if Developer has constructed the Minimum Improvements in substantial conformity with the approved Construction Plans. If the City determines that the Minimum Improvements have not been constructed in substantial conformity with the approved Construction Plans, the City will deliver a written statement to the Developer indicating, in adequate detail, the manner in which the Minimum Improvements do not conform to the approved Construction Plans and Developer will promptly remedy such deficiencies. Upon determining that the Minimum Improvements have been constructed in substantial conformity with the approved Construction Plans, the City will furnish to the Developer a certificate of completion (the "Certificate of Completion ") certifying the completion of the Minimum Improvements. The Certificate of Completion issued for the Minimum Improvements will conclusively evidence Developer's satisfaction of its obligation in this Page 53 1316916v1