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(d) Profit from sale of home will be reimbursed to the City of Roseville by GMMHC to cover land cost incurred in the purchase of the home as part of the Housing Replacement Program. Section 2.2. By the CITY. The CITY makes the following representations as the basis for the undertaking on its part herein contained: (a) The CITY is authorized by law to enter into this Agreement and to carry out its obligations hereunder; and (b) The CITY will, in a timely manner, subject to all notification requirements, review and act upon all submittals and applications of the GMMHC and will cooperate with the efforts of GMMHC to secure the granting of any permit, license, or other approval requked to allow the construction of the Improvements; provided, however, that nothing contained in this Section shall be construed to limit in any way the reasonable and legitimate exercise of the CITY discretion considering any submittal or application. ARTICLE ill. CONSTRUCTION OF IMPROVEMENTS Section 3.1. Construction of Improvements. Following closing on the property, the GMMHC shall solicit applications for purchase of the property and construction of Improvements on the Property in accordance with Construction Plans, approved by the City, that shall meet or exceed the per unit Minimum Value specified in Section 1.1, and shall maintain, preserve and keep the Improvements in good repair and condition until sale of the Property to the Homeowner. Section 3.2. Buildin!! Plans. No building permit will be issued by the City unless the Construction Plans are in conformity with the GMMHC's Minimum Value, this Agreement, including the design standards outlined in Exhibit B, and allloca1, state and federal regulations. The City shall, promptly review Construction Plans submitted in application for a building permit, and review such Construction Plans to determine whether the foregoing requkements have been met. If the City determines such Construction Plans to be deficient, it shall notify the GMMHC in writing stating the deficiencies and the steps necessary for correction. Issuance of the building permit by the City shall be a conclusive determination that the Construction Plans have been approved and shall satisfy the provisions of this Section 4.2. Section 3.3. Schedule of Construction. Subject to Unavoidable Delays, construction of the Improvements shall be completed prior to December3l, 2002. All construction shall be in conformity with the approved Construction Plans. Periodically during construction the GMMHC shall make reports in such detail as may reasonably be requested by the CITY concerning the actual progress of construction. If at any time prior to completion of construction the CITY has cause to believe that the GMMHC will be unable to complete construction of the Improvements in the time permitted by this Section 4.3, it may notify the GMMHC and demand assurances from the GMMHC regarding the GMMHC's construction schedule. If such assurances are not forthcoming or are deemed by the CITY at its sole discretion to be inadequate, the CITY may declare an Event of Default and may avail itself of any of the remedies specific in Section 7.2 of this Agreement. Section 3.4. Certificate of Completion. Promptly after notification by the GMMHC of completion of construction of the Improvements, the City shall inspect the construction to determine whether the Improvements have been completed in accordance with the Construction Plans and the tenns of this Agreement, including the date of the completion thereof. In the event that the City is satisfied with the construction, the City shall furnish the GMMHC with a Certificate of Completion in the fonn attached hereto as Exhibit A. Such certification by the City shall be a conclusive determination of satisfaction and termination of the agreements and covenants in this Agreement with respect to the obligation of the GMMHC to construct the Improvements. The certification provided for in this Section 3.4 shall be in recordable fonn. If the City shall refuse or fail to provide certification in accordance with the provisions of this Section 3.4, the City shall within 15 days of such notification provide the GMMHC with a written statement, indicating in adequate detail in what respects the 3