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2007-07-11 CC
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2007-07-11 CC
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7/9/2007 11:45:09 AM
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<br />(c) <br /> <br />Construction Planning Activities: <br /> <br />(i) The City will analyze and respond to the information provided to the City <br />by the Developer pursuant to Section 3.3(c). <br /> <br />(ii) The City will either approve or provide comments regarding Construction <br />Plans proposed by Developer in accordance with Section 4.2. <br /> <br />Section 3.5. Conditions Precedent to City's Initiation of Eminent Domain Action. The <br />City's obligation to initiate a proceeding to acquire a Parcel of the Acquisition Property through <br />the use of its powers of eminent domain shall be subject to satisfaction, or waiver in writing by <br />the City, of all of the following conditions precedent: <br /> <br />(a) The Developer not being in default under the terms of this Agreement; <br /> <br />(b) The City having determined, in its sole discretion and based on documentation <br />acceptable to the City, that the Developer has used its best efforts to acquire the Parcel for a <br />reasonable price and has been unable to do so; <br /> <br />(c) The Developer having completed to the satisfaction of the City all of the activities <br />detailed in section 3.3 with respect to the Phase or Sub-Phase to be constructed on the Parcel; <br /> <br />(d) The Developer having provided a firm commitment for financing, acceptable to <br />the City, sufficient to pay all costs of acquiring the Parcel and constructing Public Improvements <br />or the relevant Phase or Sub-Phase of the Minimum Improvements and all related costs; <br /> <br />( e) The City and its consultants having undertaken a final feasibility analysis of the <br />Developer's proposed Phase or Sub-Phase and determined, to the City's satisfaction, that the <br />development is financially feasible, which analysis will be for the benefit of the City only and <br />neither the Developer nor any third party shall be entitled to rely thereon; <br /> <br />(t) The Developer and City having reached agreement on the terms under which the <br />City will undertake the eminent domain action, including, without limitation, the deposits and <br />other security to be provided to the City to cover the City's costs of acquisition and related <br />relocation costs and such deposits and security having been provided; <br /> <br />(g) The City having held the public hearing described in Section 3.4 and following <br />such public hearing having determined to initiate an action to acquire the Parcel using its powers <br />of eminent domain; <br /> <br />(h) The City having adopted a resolution authorizing and directing the <br />commencement of proceedings to acquire the Parcel; and <br /> <br />(i) The Developer having provided to the City evidence, in a form approved by the <br />City, demonstrating that the Developer has acquired marketable title to all other Parcels of the <br />Acquisition Property necessary to construct the Phase or Sub-Phase or Public Improvements to <br />be constructed on the Parcel. <br /> <br />15 <br />
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