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DRAFT <br /> 4.15.2004 <br /> i <br /> (c) The construction of the Minimum Improvements shall be deemed to <br /> be substantially completed when the Minimum Improvements have been approved <br /> by the responsible inspecting authorities. <br /> 20.5. Reconstruction of Minimum Improvements. If the Minimum Improvements <br /> are damaged or destroyed before the Termination Date, the Developer agrees, for itself and <br /> its successors and assigns, to reconstruct the Minimum Improvements so that the Minimum <br /> Improvements and the Property have a value equal to the Minimum Market Value as set <br /> forth in and required by Section 20.1(e) of this Agreement. The Minimum Improvements <br /> shall be reconstructed in accordance with the Redevelopment Plans and consistent with the <br /> developers agreement required by paragraph 7.2(f) of this Agreement, or with modifications <br /> approved by the Authority in accordance with Section 20.2 of this Agreement. <br /> 20.6. Property Taxes; Special Assessments. After closing on the Property, the <br /> Developer shall pay all real estate taxes and special assessments on the Minimum <br /> Improvements and the Property as they become due. The Developer shall not cause the <br /> Property to be removed from the public tax rolls or to become exempt from assessment for <br /> general real estate taxes by reason of any conveyance, lease, abatement, or other action prior <br /> to the Termination Date. <br /> • 20.7. Survival of Agreement. The terms of this Section 20 shall survive closing. <br /> [The remainder of this page is intentionally blank.] <br /> • <br /> SJR-245249v4 <br /> MU205-29 <br /> 21 <br />