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If the Agency gives notice of its election to purchase the Property and the Improvements, the cost of <br />the Property and the Improvements purchased pursuant to this Section 4.06 shall be the fair market value, <br />exclusive of inventory, store fixtures and business goodwill, at the time of the breach as determined by the <br />following valuation method. Each party shall obtain a fair market value appraisal of the Property and <br />Improvements as described above. The parties shall exchange appraisals and negotiate a price based on the <br />appraisals. If the parties fail to reach agreement on the price, the parties shall jointly retain a single appraiser <br />to value the Property. The appraisal shall be based on the highest and best use of the property as determined <br />by the then-existing zoning. <br />4.07 Progress Reports. <br />Until construction of the Improvements has been completed, Developerauthorizes the Agency to have <br />full access to all building inspection reports and other information at the City to assist the Agency in reviewing <br />the actual progress of construction. Developer shall allow the Agency to review construction documents and <br />records maintained by Developer in the ordinary course of the construction as may be reasonably requested <br />by the Agency. <br />4.08 Agency to Receive Copy of Construction Contract. <br />In the event that the Developer enters into contracts for the construction of the Improvements, such <br />contracts shall be with contractors licensed by the State of California. Copies of all contracts shall be tendered <br />to the Agency for the sole and limited purposes of determining that the amount of the cost of work has been <br />clearly fixed and determined, as herein provided, and that the covenants as to Equal Opportunity in <br />Construction (Section 4.09 of this Part) have been met. Unless the Agency notifies the Developer in writing <br />within fifteen (15) days of submission of the contract that the contract has been disapproved it shall be deemed <br />approved. <br />4.09 EqualOpportunitX. <br />During the construction of the Improvements, Developer shall not discriminate on the basis of race, <br />religion, sex, or national origin in the hiring, firing, promoting or demoting of any person engaged in the <br />construction work and shall direct its contractors and subcontractors to refrain from discrimination on such <br />basis. <br />4.10 Certificate of Completion for Improvements. <br />Promptly after completion of construction of the Improvements in accordance with the provisions of <br />this Part and upon issuance of a certificate of occupancy by the City, the Agency will provide an instrument <br />so certifying provided that, at the time such certification is issued, the Improvements have been completed <br />(hereafter "Certificate of Completion"). Such Certificate of Completion shall be conclusive determination that <br />the covenants in this Agreement with respect to the obligations of Developer, its successors and assigns, to <br />construct the Improvements and the dates for the beginning and completion of construction thereof have been <br />met. Such Certificate of Completion shall be in such form as will enable it to be recorded among the official <br />records of Alameda County. Such Certificate of Completion and determination shall not constitute evidence <br />Disposition and Development Agreement (Automall) Page 14 of 29 <br />