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DRAFT 10.15.2007 <br /> <br /> <br />320252v2 SJR MU205-38 (for now) <br />2 <br /> (c) such documentation regarding economic feasibility of the Project as City <br />may wish to undertake during the term of this Agreement; <br /> <br /> (d) other terms and conditions of this Agreement; and <br /> <br />(e) Developer acquisition of the Property and adjoining Roberts site. <br /> <br /> 2. It is the intention of the parties that this Agreement: (a) documents the present <br />understanding and commitments of the parties; and (b) will lead to negotiation and execution of a <br />mutually satisfactory Contract prior to the termination date of this Agreement. The Contract <br />(together with any other agreements entered into between the parties hereto contemporaneously <br />therewith) when executed, will supersede all obligations of the parties hereunder. <br /> <br /> 3. During the term of this Agreement, Developer shall: <br /> <br /> (a) Submit to City a design proposal to be approved by City showing the <br />location, size, and nature of the proposed Development, including floor layouts, renderings, <br />elevations, and other graphic or written explanations of the Development. The design <br />proposal shall be accompanied by a proposed schedule for the commencement and <br />completion of all phases of Development. <br /> <br /> (b) Submit an over-all cost estimate for the design and construction of the <br />Development. <br /> <br /> (c) Submit a time schedule for all phases of the Development. <br /> <br /> (d) Undertake and obtain such preliminary economic feasibility studies, income <br />and expense projections, and other economic information as Developer may desire to further <br />confirm the economic feasibility and soundness of the Development. <br /> <br /> (e) Submit to City Developer’s financing plan showing that the proposed <br />Development is financially feasible. <br /> <br /> (f) Furnish satisfactory financial data to City evidencing Developer’s ability to <br />undertake the Development. <br /> <br /> 4. During the term of this Agreement, City agrees to: <br /> <br /> (a) Proceed to seek all necessary information with regard to the anticipated <br />public costs associated with the Development. <br /> <br /> (b) Estimate City’s level, if any, and method of financial participation in the <br />Development and develop a financial plan for City’s participation. <br />