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(b) Within one hundred and eighty (180) days of the Effective Date, <br />the Developer shall submit to BART the following: <br />(i) A preliminary feasibility analysis for development on the <br />East Parking Lot for the purpose of beginning negotiations on a sale, exchange or ground lease <br />between BART and the Developer. Such Preliminary feasibility study shall analyze the market <br />feasibility, achievable rents/sales prices cost of replacement parking and estimated absorption <br />schedule of the BART project. <br />(ii) A preliminary description of the specific financial structure <br />of the BART project showing that the BART project is feasible to a level of detail that is <br />reasonably acceptable to BART and the Developer. <br />(iii) A list of lenders and/or investors that will be approached <br />for financing the project. <br />3.2 BART East Parking Lot Project Replacement Parking Analysis And Phase <br />I Environmental Site Assessment. <br />(a) Within thirty (30) days of the Effective Date, the Developer shall <br />retain a consultant selected by the Developer with BART's involvement to assist with the <br />preparation of a concept for replacement parking for the parking spaces on property owned by <br />BART (the "Parking Replacement Concept"). The Developer and BART shall jointly approve <br />the scope of work and the Developer shall implement the contract. <br />(b) Within sixty (60) days of the Effective Date, the Developer shall <br />provide BART with a copy of the Parking Replacement Concept. <br />(c) Within sixty (60) days of BART's receipt the Parking Replacement <br />Concept, BART shall complete its review and shall inform the Developer of either (i) BART's <br />approval of the Parking Replacement Concept or (ii) request in writing any additional <br />information required for approval. <br />(d) Within sixty (60) days of the Effective Date, the Developer shall <br />retain a consultant and begin work on a Phase I site assessment environmental review (the <br />"Phase I Environmental Site Assessment"). <br />(e) Within one hundred twenty (120) days of the Effective Day, the <br />Developer shall provide copies of the Phase I Environmental Site Assessment to BART for its <br />review. <br />(f) Within one hundred fifty (150) days of BART's receipt of the <br />Developer's Phase I Environmental Site Assessment, BART shall complete its review of the <br />Phase I Environmental Site Assessment and shall inform the Developer of any deficiencies or the <br />need for any additional information. <br />(g) Within one hundred twenty (120) days of the Effective Date, the <br />Developer shall submit to BART a preliminary project site plan, including street configuration, <br />SANF1~382607.1 <br />311718-29 5 <br />