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Section 43. Comsnenceme�t and Com letion of Constnsction. Subjeci to Una�oidable Delays, <br />ihe Developer will commence and substantialIy complete tlae Minimum Improvements in accordance with <br />tlae �ollowing schedule: <br />Phase IA: Commence by Decem�ber 31, 2411 <br />Complete by December 31, 2U13 <br />Phase IB Commence by May 1, 2013 <br />Compiete by Decesnber 31, 2014 <br />i'hase II Com�nnence by December 31, 2014 <br />Complete by December 31, 2016 <br />Utility <br />Irnprovements: Same as �hase IB <br />Demolition: Must demolish Lakeview within b rnonths after the first cartificate of <br />occupancy for Phase IA. <br />Must de�nolish Sutton Place within 6 months after the first certificate of <br />occupancy for Phase II. <br />All wark with respect to the Minimum Timprovements ta be constructed or provided by the Developer on <br />the Development Property shall be in conformity with the Constructio� Plans as submitted by the <br />Devetoper and appraved by the City. <br />The Developer agrees �or itself, its successors and assigns, and every successor in interest to the <br />Development Property, oz any part thereof, that the Developer, and such successors and assigns, shall <br />promptly begin and diligently prosecute to coznpletion the development af Yhe Development Praperty <br />through the construction of the Mini�aaum Improvements thereon. After the date of this Agreement and <br />until canstruction oF the Minimum Tmproveinents has been completed, the Developer shall r�ake reports, <br />in such detaiI and at such fimes as may reasonably be requested by the City, as to the actual progress of <br />the Deve[oper with respect ta such constr�iction. <br />Section 4.4. Certificate of Completion. (a) Promptly after completion of the Minimum <br />Improvements in accordance with those provisions of the Agreement relaiing solely to the obIigations of <br />the Developer to construct th� Minimum Impravements (including the dates far beginning and <br />comp�e#ion thereof}, the City Representative will �'ixrnish the Developer with a Certificate shown as <br />Schedule B. S�ech certification and such determination shall not constitute evidence of compliance with <br />or satisfactian of any obligation of the Developer #o any Holder of a Mortgage, or any insurer of a <br />Mortgage, securing money loaned to finance the Minimum Improvem�nts, or any part thereo% <br />(b) If the City Representative shall refuse ar fai( to pro�ide any certification in accordance <br />with the provisions of this Sec�ion 4.4 of this Agreament, the City Representative shall, within ten (10) <br />business days after written request by the Developer, provide t�e Developer with a wxitten staterrient, <br />ircdicating in adequate detail in what respects the Developer has failed to complete the Mini�aurr� <br />Improvemenis in accordance with the pro�isions of the Agreement, or is otherwise in default, and what <br />measures or acts will be necessary, in the opinion of the City, for the Developer to take or perfornn in <br />order to abtain such certification. <br />378990v6 5JB ARZ00-10 13 <br />