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<br />(3) Complete a feasibility srudy of the Site whioh will include !he comp~ncn\s of the <br />attfiched slaffrepon and Centcx's proposal dated June 29, 1999; and <br /> <br />. <br /> <br />(4) Complete a market analysis of the Site. <br /> <br />BE IT FURT.f'lER RESOLVED, that Cemex wiJ1 submit a good faith deposit in the lln10unr of <br />SIOO,OOO_OO tu saj<.J HRA wirlun ten days oftbis Resolution which shall rtmain the prop crt)' of <br />the rJRA unless Cente;>; timely complete. items 1-4 Oflhe abov" Resolution, Md (a) detc::rmines <br />that the Sik is not eeonomica!Jy fe...sibIe for Cenrex to develop, and delivers to th~ HRA for its <br />unrestricted USe at nO cost alJ work product, market amllysis, architectural and cnginc~ring <br />reports, construction budget, research materi3ls and oth::r c)ocLlmenration produced for the Site, <br />or (b) determines Ihatlhe Site is c:conomically feasible to develop, ill which event the Tentative <br />Developer designation is extended for three months, to agree upon business tcrm. with the HRA <br />on a proposed development (and ifno[ so agreed then the deposit will be renlmed to Cemex). and <br />ifbllsincss tem1S <,te Jgreed to, The TemativeDeveloper designalion sh~ll be eXlcr-ded for an <br />!tddlcion,,] three months for Ccntex to finalize its development plans and construction comracts <br />and eomplete arrangements for financing for a proposed d~velopme:Jt and "mer imo ~ <br />redev~lopmcn[ contract with HRA within tineen months of this Resollltion, nr.d l:pon satisfaction <br />o[these conditions, the deposit will be Ictumed to Centex. <br /> <br />. <br /> <br />2 <br /> <br />e <br />