07-25-2016 EDA Packet - Laserfiche WebLink

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ARTICLE IV Construction of Minimum Improvements Section 4.1. Construction of Minimum Improvements. The Developer agrees that it will construct the Minimum Improvements on the Development Property in accordance with the approved Construction Plans in all material respects and will cause Tenant to operate and maintain, preserve and keep the Minimum Improvements or cause the Minimum Improvements to be maintained, preserved and kept with the appurtenances and every part and parcel thereof, in good repair and condition, ordinary wear and tear and damage by casualty excepted. Section 4.2. Construction Plans. (a) Before commencing construction of the Minimum Improvements, the Developer shall submit to the Authority completed Construction Plans. Developer satisfies this obligation by submitting such Construction Plans to the City. The Construction Plans shall provide for the construction of the Minimum Improvements and shall be in conformity with the Development Program, the TIF Plan, this Agreement, and all applicable State and local laws and regulations in all material respects. The Authority will approve the Construction Plans in writing if. (i) the Construction Plans conform to the terms and conditions of this Agreement in all material respects; (ii) the Construction Plans conform to the Development Program in all material respects; (iii) the Construction Plans conform to all applicable federal, State and local laws, ordinances, rules and regulations; (iv) the Construction Plans are adequate (in the Authority's reasonable discretion) to provide for construction of the Minimum Improvements; and (v) no Event of Default has occurred and is continuing. No approval by the Authority shall relieve the Developer of the obligation to comply with the terms of this Agreement or of the Development Program in all material respects, applicable federal, State and local laws, ordinances, rules and regulations, or to construct the Minimum Improvements in accordance therewith. Approval may be based upon a review by the City's Building Official of the Construction Plans. No approval by the Authority shall constitute a waiver of an Event of Default. Such Construction Plans shall be deemed approved unless rejected in writing by the Authority, in whole or in part. Such rejections shall set forth in detail the reasons therefore, and shall be made within 30 days after the date of their receipt by the City. If the Authority rejects any Construction Plans in whole or in part, the Developer shall submit new or corrected Construction Plans within 30 days after written notification to the 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 Authority, except that the Authority's rejection period for any resubmitted Construction Plans shall be 10 days instead of 30 days. The Authority's approval shall not be unreasonably withheld. Said approval shall constitute a conclusive determination that the Construction Plans (and the Minimum Improvements, constructed in accordance with said plans) comply to the Authority's satisfaction with the provisions of this Agreement relating thereto. (b) If the Developer desires to make any material change in the Construction Plans after their approval by the Authority, the Developer shall submit the proposed change to the Authority for its approval. If the Construction Plans, as modified by the proposed change, conform to the requirements of this Section 4.2 of this Agreement with respect to such 12 482405v6