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1054867.2 <br />(e) The Developer shall furnish the City evidence <br />by July 1, 2000, in a form satisfactory to the City <br />such as a letter of commitment from a bank or other <br />lending institution, that the Developer has firm <br />commitments for financing for the acquisition of the <br />Phase II Development Property and construction <br />financing for the Phase II Minimum Improvements in an <br />amount sufficient, together with equity commitments, to <br />acquire the Phase II Development Property and complete <br />the Phase II Minimum Improvements in conformance with <br />the Construction Plans, or the City shall receive such <br />other evidence of financial ability as in the <br />reasonable judgment of the City is required; and <br />(f) Delivery to the City of a guaranty from <br />Richard A. Biagini in the form attached hereto as <br />Exhibit G, to assure performance of the Developer's <br />obligations under Section 7.1 of this Agreement; <br />(g) Issuance of a building permit for the Phase II <br />Minimum Improvements; <br />(h) Issuance of the Bonds and satisfaction of the <br />conditions set forth in Section 3.3 of this Agreement. <br />(i) The Developer shall provide the City with a <br />report or reports from consultants reasonably <br />acceptable to the City describing the environmental and <br />geotechnical condition of the Phase II Development <br />Property and the investigation the consultant undertook <br />to determine the environmental and geotechnical <br />condition of the Phase II Development Property. If the <br />report or reports disclose the existence of <br />environmental contamination or unfavorable soil <br />conditions on the Phase II Development Property, the <br />Developer must either: <br />(i) Notify the City, in writing, that the <br />Developer is terminating this Development <br />Agreement; or <br />Page 61 <br />