Laserfiche WebLink
limitation environmental, zoning, building code, housing code, and public health laws and <br />regulations), and any applicable permits and in substantial conformity with this Agreement, and <br />the Construction Plans approved by the City in connection with issuing construction permits, <br />each as applicable. The following shall be conditions precedent to the City's obligation to <br />execute the Certificate of Completion: <br />(1) There shall exist no Event of Default hereunder; <br />(2) The City shall have issued a certificate of occupancy for all of the Minimum <br />Improvements, including all Tenant improvements sufficient to make the Minimum <br />Improvements operable by the Tenant in accordance with the Lease; <br />(3) The City Administrator and City Engineer on behalf of the City shall have <br />reasonably determined in a timely manner and consistent with the City's practice for similar <br />construction projects that the Minimum Improvements have been substantially completed and <br />constructed in accordance with all local, state and federal laws and regulations (including <br />without limitation environmental, zoning, building code, housing code, and public health laws <br />and regulations), and in substantial conformity with this Agreement and the Construction Plans <br />approved by the City in connection with issuing construction permits, each as applicable. <br />If the City determines that it cannot execute the Certificate of Completion as set forth in <br />Section 4.2, it shall, within 45 days after the Developer's written request for the Certificate of <br />Completion, provide a written statement indicating in adequate detail why it cannot do so and <br />also indicating what measures or acts will be necessary to be taken or performed in order to <br />permit execution of the Certificate of Completion. The Developer shall have a reasonable period <br />of time to remedy such deficiencies. The City shall re -inspect the Minimum Improvements <br />within 30 days after receiving notice that such deficiencies have been remedied in order to <br />determine whether the conditions set forth above have been satisfied. <br />Within 30 days after determining that the Minimum Improvements have met the <br />conditions set forth in this Section 4.2, the City will furnish to the Developer a Certificate of <br />Completion in the form attached hereto as Exhibit C, which shall then be a conclusive <br />determination of satisfaction and termination of the agreements and covenants in this Agreement <br />with respect to the completion of the Minimum Improvements. <br />Section 4.3 Insurance. <br />(1) The Developer will maintain or cause its contractor to provide and maintain, at all <br />times during the process of constructing the Minimum Improvements, a "Special Form" <br />Insurance Policy or Policies and, from time to time during that period, at the request of the City, <br />furnish the City with appropriate certificates of insurance covering the following: <br />(a) Builder's risk insurance, written on the so-called `Builder's Risk <br />Completed Value Basis," in an amount equal to 100% of the insurable value of the <br />Minimum Improvements at the date of substantial completion, and with coverage <br />available in nonreporting form on the so-called "Special Form" form of policy (to <br />accomplish the above -required insurance, a master or portfolio -based property insurance <br />policy may be used); <br />14 <br />LL185\61\675612.v1 <br />