RDA Agmt 2004 1040 Davis Partnership LLC

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withheld. If the Construction Plans, as modified by any proposed change, conform to the requirements of this Agreement, the Agency shall approve the change by notifying the Developer in writing. Unless said proposed change is rejected by the Agency within fifteen (15) days, it shall be deemed approved. If rejected within such time period, the previously approved Construction Plans shall continue to remain in full force and effect. Any change in the Construction Plans required in order to comply with applicable codes shall be deemed approved, so long as such changes do not substantially nor materially change the architecture, design or other amenities of the Improvements as shown on the latest approved Construction Plans. 3.04 Construction Plans Must Be Approved. Notwithstanding any other provision of this Part, the Developer shall not commence any construction of the Improvements until it has first received the written or deemed approval by the Agency of the Construction Plans as provided in this Part. Any breach of this Section shall afford the Agency its rights under Article Five of this Part. 3.05 Construction Bonds. Prior to the commencement of construction of the Improvements, the Developer shall deliver to the Agency copies of any labor and material bonds, and performance bonds required by Developer's lenders, which bonds shall be issued by a reputable insurance company licensed to do business in California, in a penal sum each of not less than one hundred percent (100%) of the scheduled cost of construction of the Improvements. Such bonds shall name the Agency as co-obligee. 3.06 Agency to Receive Copy of Construction Contract. Developer shall enter into contracts for the construction of the Improvements with reputable contractors. Copies of all contracts shall be tendered to the Agency for the sole and limited purposes of determining that the covenants as to Equal Opportunity in Construction (Section 3.08 of this Part) have been met. Unless the Agency notifies the Developer in writing within fifteen (15) days of submission of the contract that the contract has been disapproved it shall be deemed approved. 3.07 Progress Reports. Until construction of the Improvements has been completed, Developer authorizes the Agency to have full access to all building inspection reports and other information at the City of San Leandro to assist the Agency in reviewing the actual progress of construction. Developer shall allow the Agency to review construction documents and records maintained by Developer in the ordinary course of the construction as may be reasonably requested by the Agency. 3,08 Equal Opportunity. During the construction of the Improvements, Developer shall not discriminate on the basis of race, religion, sex, or national origin in the hiring, firing, promoting or demoting of any person engaged in the Disposition and Development Page 6 Agreement - 1040 Davis Street May 14, 2004 FINAL