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08/16/00 WED 15:34 FAX 6123402644 DORSEY & WHITNEY 187 • 4. Completion o£_Improvements. Redeveloper intends to redevelop the Property over a period of time,with the timing of the . completion of certain of the Improvements being dependent on the leasing of the space in the Building. In any event, Redeveloper shall complete.the following Improvements in compliance with the requirements fox the Plan on or before the following dates: Landscaping: 50%before September 30, 2001, remaining 50% commenced before August 31, 2003 and completed before November 15, 2003 Building Facade August 30,2003 Show Space of at least 4,000 sq. ft. May 15, 2001 Watershed/Drainage Improvements August 31, 2003 5. Compliance with Laws and Regulation L s. • Redeveloper represents to the City and agrees with the City that the redevelopment of the Property and all Improvements shall comply with all applicable City, County, Metropolitan, State, and Federal laws and regulations, including but not limited to all applicable subdivision ordinances, zoning ordinances, the PUD Ordinance,the Plan approved by the City Council, and all environmental laws and regulations. Notwithstanding anything in this Agreement to the contrary,in the event of any inconsistencies between the PUD Ordinance and the Plan,the Plan shall govern and control. 6. Redeveloper's Default. In the event of default by Redeveloper under this Agreement, including but not limited to Redeveloper's failure to complete any Improvements to be completed by it hereunder, and failure of Redeveloper to cure such default within 60 days after notice thereof from.the City,the City may, at its option,perform the work or otherwise.cure the default, in which case Redeveloper shall promptly reimburse the City for any costs and expenses which the City incurs in doing so. Notiice to Redeveloper shall constitute,without further action,notice to any contractor or subcontractor of Redeveloper. This Agreement shall constitute a license from Redeveloper for the City to act. If Redeveloper defaults in the performance of any of the covenants and agreements herein contained and such default is not cured within 60 days after receipt by Redeveloper of written notice thereof,the City, if it so elects,,may cause any of the Improvements to be constructed and installed, and may otherwise cure any other defaults by Redeveloper under this Agreement. If any.Improvements • -2-