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15 419290v2 LN140 -109 The Developer agrees for itself, its successors and assigns, and every successor in interest to the Property, or any part thereof, that the D eveloper, and such successors and assigns, shall promptly begin and diligently prosecute to completion the development of the Property through the construction of the Minimum Improvements thereon, and that such construction shall in any event be commenced and completed within the period specified in this Section 17 .3 of this Agreement. Subsequent to the Developer’s acquisition of title to the Property, or any part thereof, and until construction of the Minimum Improvements has been completed, the Developer shall make reports, in such detail and at such times as may reasonably be requested by the EDA, as to the actual progress of the Developer with respect to such construction. 17 .4. Certificate of Completion . (a) Promptly after substantial completion o f the Minimum Improvements in accordance with those provisions of this Agreement relating solely to the obligations of the Developer to construct the Minimum Improvements (including the dates for beginning and completion thereof), the EDA will furnish the Developer with a Certificate of Completion substantially in the form shown at Exhibit B. Such certification by the EDA shall be a conclusive determination of satisfaction and termination of the agreements and covenants in this Agreement with respect to th e obligations of the Developer, and its successors and assigns, to construct the Minimum Improvements, as applicable, and the dates for the beginning and completion thereof. Such certification and such determination shall not constitute evidence of compli ance with or satisfaction of any obligation of the Developer to any Holder of a Mortgage, or any insurer of a Mortgage, securing money loaned to finance the Minimum Improvements, or any part thereof. (b) If the EDA shall refuse or fail to provide any ce rtification in accordance with the provisions of this Section 17 .4 of this Agreement, the EDA shall, within thirty (30) days after written request by the Developer, provide the Developer with a written statement, indicating in adequate detail in what respe cts the Developer has failed to complete the Minimum Improvements in accordance with the provisions of this Agreement, or is otherwise in default, and what measures or acts it will be necessary, in the opinion of the EDA, for the Developer to take or perfo rm in order to obtain such certification. (c) The construction of the Minimum Improvements shall be deemed to be substantially completed when the City has issued a certificate of occupancy. 17.5. Reconstruction of Minimum Improvements . If the Minim um Improvements are damaged or destroyed before the Maturity Date, the Developer agrees, for itself and its successors and assigns, to either (a) reconstruct the Minimum Improvements in accordance with the plans and specifications approved by the EDA , or (b) pay the EDA the net present value of tax increment that would have been generated from the Property through the Maturity Date, based on the most market value for tax purposes in County records before the casualty, assuming class