5.1. SR 10-17-2005 - Laserfiche WebLink

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Minimum Improvements without the City's prior written approval unless such changes do not alter the total amount set forth in the Sworn Construction Cost Statement for such Phase delivered pursuant to Section 4.1 hereof by a decrease of more than five (5) percent. In no event may any changes affect the quality, exterior design or materials included in the Construction Plans unless such changes are approved by City. The City agrees that its approval will not be unreasonably withheld or delayed. Section 4.3 Commencement and Completion of Construction. (a) Subject to the terms and conditions of this Agreement and to Unavoidable Delays, the Developer will commence construction of each project ofthe Minimum Improvements by the dates set forth on Exhibit H.G and will cause each project of the Minimum Improvements to be substantially completed not later than the dates set forth on Exhibit HG. Nothin!! in this A!!reement shall nrevent the Develoner from commencin!! and/or comnletin!! construction of the Bluff Block Develonment nrior to commencin!! and/or comnletin!! construction of the Jackson Block Develonment. (b) Prior to commencement of construction of the Jackson Block Development: (i) the Developer shall have delivered to the City evidence acceptable to the City that the Developer has fee title to all of the Bluff Block Property; (ii) the Developer shall have entered into a demolition contract for all existing improvements on the Bluff Block Property and, other than the building on the U.S. Bank Parcel, will have demolished any existing improvements and completed any necessary environmental remediation with respect to such improvements; (iii) the Developer shall have closed on the Construction Loan for the Bluff Block Development; (iv) the Developer shall have entered into a construction contract for construction of the Bluff Block Development; (v) the Developer shall have paid the Parking Lot Cost to the City or deposited the Parking Lot Cost into escrow pursuant to an escrow agreement executed by the City, the Developer and an escrow agent providing the terms of disbursement of the escrowed funds to pay the costs of constructing the Parking Lot and related costs; provided, the Developer shall pay any costs of establishing the escrow account and any escrow fees; and (vi) the Parking Lot shall have been substantially completed and be available for use as a parking facility. (c) The Developer shall demolish the building on the U.S. Bank Parcel and commence construction of the Bluff Block Development within 60 days of U.S. Bank, National Association vacating the U.S. Bank Parcel. I824344vRED V2 to VI; 10/12/05 25