11-23-2009 EDA Packet - Laserfiche WebLink

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Construction Plans to the Authority and City. The Construction Plans shall provide for construction of the Assisted Living Improvements in conformity with this Addendum, and all applicable federal, State and local laws and regulations. The Authority Representative shall approve the Construction Plans in writing if, in the reasonable discretion of the City, the Construction Plans: (a) conform to the terms and conditions of this Addendum; (b) conform to the terms and conditions of the PUD Amendment; (c) conform to all applicable federal, State and local laws, ordinances, rules and regulations; (d) are adequate to provide for construction of the Assisted Living Improvements; and (f) no Event of Default has occurred. (b) No approval by the City shall relieve Assisted Living Developer of the obligation to comply with the terms of this Agreement, applicable federal, State and local laws, ordinances, rules and regulations, or to properly construct the Project. No approval by the City shall constitute a waiver of an Event of Default. Any disapproval of the Construction Plans shall set forth the reasons therefore, and shall be made within 30 days after the date of their receipt by the City. If the City rejects the Construction Plans, in whole or in part, Assisted Living Developer shall submit new or corrected Construction Plans within 30 days after written notification to Assisted Living Developer of the rejection. The provisions of this Section relating to approval, rejection and resubmission of corrected Construction Plans shall continue to apply until the Construction Plans have been approved by the City. (c) Subject to Unavoidable Delays, the Assisted Living Developer will substantially complete construction of the Assisted Living Improvements on or before November 1, 2010. (d) All work with respect to the Assisted Living Improvements shall be in substantial conformity with the Construction Plans approved by the City. Upon approval by the City of the Construction Plans, the Assisted Living Developer shall promptly begin the Assisted Living Improvements and diligently prosecute the completion the development of such improvements in accordance with this Addendum. (e) Promptly after completion of the Assisted Living Improvements, the City will furnish the Assisted Living Developer with an appropriate Certificate of Completion, substantially in the form of Exhibit A hereto (which is hereby incorporated herein and made a part hereof), as conclusive evidence of satisfaction of the covenants under this Section of the Addendum. The furnishing by the City of a Certificate of Completion shall not constitute evidence of compliance with or satisfaction of any obligation of Assisted Living Developer to any Mortgagee. (f) If the City shall refuse or fail to provide a Certificate of Completion, the City shall, within fifteen (15) days after Assisted Living Developer provides an architect's certificate evidencing completion of the Project, provide Assisted Living Developer with a written statement specifying in what respect Assisted Living Developer has failed to complete the Assisted Living Improvements in accordance with this Addendum, or is otherwise in default, and what measures or acts will be necessary, in the opinion of the City, for Assisted Living Developer to obtain the Certificate of Completion. Failure by the City to provide a Certificate of Completion for the Assisted Living Improvements shall not constitute an Event of Default under this Agreement. 5