8A, Presbyterian Homes TIF - Laserfiche WebLink

Home Browse Search

_. . _ _ _ _ _ Section 4.3. Commencement and Co�letion.of Constr�ction. Subject to Unavoidab}e Delays, the Developer wi�1 com�nence and substantially compiete the Minimum improvements in accordance with the following schedule: Phase lA: Comme�ce by December 31, 201 ] Complete by December 31, 2013 Phase IB Co�nmence by May l, 2013 Complete hy December 3}, 2014 Phase I� Commenee by December 3], 20I 4 Complete by December 31, 2016 Utility lrr�pr�vements: Same as Phase IB Demolitian: Must demolish Lakeview within 6 3nonths after the first certificate of occupancy for Phase IA. Must demolish Sutton Alace within b months after the first certifcate of occupancy for Phase ]l. AII work with respect to the Minimum Improvements to be constrvcted ar provided by the Developer an the Deveiopment Property shall be in eonformity with the Construction Plans as sub�nitted by the Deve]opeF and approved by the City. The Developer agrees for itsetf, its successors and assigz�s, and every successor in intEres� to the De�elopmer�t Property, or any part thereof, that the DevelopEr, and sucl� successors and assigns, sha11 promptly begin and diligenily prosecute to completion tl�e de�elopment of the DeveIopment Praperty through �he constz'uction of the Minimum Improvements thereon. After the date of ihis Agreemeni and until construction of t�e Minimum lrnprovements has been eornpleted, che Developer sha�l make reports, in such detail and at such times as may reasonably be requested by the City, as to the aetual progress of the Developer with respect to such constructio��. Section 4.4. Certifcate of Com letion_ (a} Promptiy after cornpletio� of the Minirnum I�nprovements in accotdance with thase provisions af the Agreement relating soleiy to t�e obiigatians of the Developer to canstruct the Minimum Improvements (i�cl�ding the dates fqr beginning and completion thereo#}, the City Representative will furnish the Developer witl� a Certificate shown as Schedule B. Such cer�i�cation ancf such determination shal] not co�lstitute evidence of catnpliance with or satisfaction of a�y o6�igation of the Developer to any Holder of a Mortgage, or any insurer of a Mortgage, securing money loaned to finance tl�e Minimum Improve�nents; or any part thereaf. (�) If the City Representative shall refuse or fail to provide any certification in accordance with the provisions of this Section 4.4 of this Agreernent, the City Represe»tative s�alf, within ten (1D} business days after written request by the Developer, provide the De�eloper with a written statement, indicating in a.dec�uate detai� in wha# respects the Developer has failed to complete the Minimum Improverr�ents in accordance with the provisions af the Agreeme�tt, or �s o#herwise in defauI#, and what rneasures or acts will be necessary, in the opinion of tl�e City, for the Deveioper to take or perf'orzn in order to obtaij� such certification. 3�s9sav�a s.iB Arzzoa-�o � �