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<br /> . <br /> . Section 2, Present Intent of Parties, It is the intention of the parties that this Agreement <br /> document the present understanding and commitments of the parties and that negotiations <br /> between the parties will proceed in an attempt to fonnulate a mutually satisfactory Contract <br /> based upon the following: <br /> (a) the Developer's current proposal which details the scope of the proposed <br /> Development in its latest fonn as of the date of this Agreement, together with any <br /> changes or modifications required by the City; <br /> (b) such documentation regarding the economic feasibility of the Development as the <br /> City may wish to obtain or undertake during the term of this Agreement; <br /> (c) the completion of all undertakings required by this Agreement in a satisfactory and <br /> timely manner; and <br /> (d) other terms and conditions contained in this Agreement or as determined to be <br /> appropriate by either party, <br /> The Contract (together with any other agreements entered into between the parties hereto <br /> contemporaneously therewith) when executed will supersede all obligations of the parties <br /> hereunder, <br /> . Section 3, DevelQper Undertakings, During the term of this Agreement the Developer <br /> shall do the following: <br /> (a) Within thirty (30) days of the date of this Agreement, identify all real property that <br /> must be acquired to undertake and complete the Development, Within sixty (60) <br /> days from the date of this Agreement, the Developer shall communicate with the <br /> owners of such property concerning the Developer's purchase thereof and notify the <br /> City as to the response of the owners and the estimated prices for which the <br /> property may be purchased, <br /> (b) Within sixty (60) days of the date of this Agreement, submit to the City a proposed <br /> schedule for all phases of the Development, including without limitation, the timing <br /> of the procurement of financing and the various stages of construction, <br /> (c) Within thirty (30) days of the date of this Agreement, submit to the City a <br /> preliminary site plan for the Development showing the size, nature and location of <br /> the proposed Development, including parking, landscaping and other exterior <br /> improvements and within sixty (60) days of the date hereof, submit to the City a <br /> design framework for the Development showing the relationship of the <br /> Development to the City's zoning ordinance, <br /> . (d) Within sixty (60) days of the date of this Agreement, submit to the City a project <br /> proforma detailing all costs of the Development and the sources and uses of all <br />