Agenda Packets - 1987/12/14 - Laserfiche WebLink

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conformity with the Construction Plans; or (F) falls to provide the funds described In Beetlon ±.? of this Agreement; and (11) within thirty (30) days after written notice of failure from the City, the Redeveloper does not cure such failure or, if thz failure is by Its nature incurable within such thirty (30) days, does not furnish the City with satisfactory evidence that it can and will cure such failure within a reasonabto the City thelentire amoune time, thent of the on rDevelopment Letter ofitten demand to the Credit eCreditto reimburse tbank will he City for its costs Incurred in connection with the issuance of the Bonds, the creation of the District and the preparation of this Agreement and any damages incurred as a result of such defaults; provided, however, that in the event that such payment exceeds the amount of such costs for which the City has not been otherwise reimbursed by Developer or through interest earnings on the undisbursed Bond proceeds the City shall refund any such excess to the Redeveloper. Section A.G. Phases. The Redeveloper and City recognize that the Minimum Improvements are intended tc be constructed in stages over tine, and the: the Redeveloper cannot predict the precise timing or order of the development of ` specific. Pereela. A Phase shell consist of a specific part of the Minimum improvements on a specific Parcel or Parcels (whether contiguous or scattered) to be undertaken at a specific time, as designated by the Redeveloper in a notice to the City specifying the portion of the Minimum Improvements to be undertaken, ich the Parcel the City to acquirehsuchtParcel or Parcels under he Contract &or he Phase is to be contructedp and the price to bepaid byDeed, 4 21