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Inst 2001161041
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Inst 2001161041
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Last modified
7/20/2012 5:21:51 PM
Creation date
9/13/2010 10:35:34 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
7/17/2000
Recorded Document Type
DDA
Deed of Trust
Retention
PERM
Document Relationships
Inst 2003395366
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2003
Inst 2003519999
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2003
Inst 2004047236
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2004
Inst 2004047239
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2004
RDA Reso 2000-025
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2000
Reso 2000-112
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2000
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in which case within sixty (60) days of submittal. Any changes not approved shall be deemed <br /> disapproved. <br /> The Developer acknowledges that a separate review process (including design <br /> review) may. be required in the event Developer undertakes other improvements, additional <br /> improvements, or a redesign of improvements to the Property. <br /> 1.04 Construction Plans. <br /> Developer shall submit to the Agency its Construction Plans for the Developer <br /> Improvements on or before the ninetieth (90 day after the Date of Agreement. As used herein <br /> "Construction Plans" mean all construction documentation upon which the Developer, and <br /> Developer's several contractors, shall rely in building the Developer Improvements (including <br /> landscaping, Required Parking Structure, surface parking, and common and public areas) and shall <br /> include, but not necessarily be limited to, final architectural drawings, landscaping plans and <br /> specifications, final elevations, building plans and specifications (also known as "working <br /> drawings ") and a time schedule for construction. The Construction Plans shall be based upon the <br /> approved Final Development Plan and shall not deviate therefrom without the prior express written <br /> consent of the Agency. <br /> 1.05 Construction Financing Plan and Project Budget. <br /> (a) At the time Developer is required to submit the Construction Plans to <br /> the Agency pursuant to Section 1.04 of this Part, Developer shall submit to the Agency its plan for <br /> financing the construction of the Developer Improvements (hereinafter "Construction Financing <br /> Plan "). <br /> The Construction Financing Plan shall include a cost breakdown by major <br /> cost categories and a cash flow projection for the construction of the Developer Improvements <br /> (including all soft costs for professional services such as architectural and engineering services), and <br /> for take -out of any financing obtained in connection with acquisition of the Property or payment of <br /> acquisition costs and the sources of necessary funds to pay, when due, the costs indicated in the cash <br /> flow projection and evidence that the funds necessary to finance those costs have been sought or <br /> committed by Developer, equity investors or lending institutions, subject to such conditions as are <br /> commercially reasonable under the circumstances. <br /> (b) Sources of funds disclosed in the Construction Financing Plan may <br /> • <br /> include additional equity investments and /or loans provided such funding is from institutional lenders <br /> reasonably acceptable to the Agency. The Agency will cooperate with Developer in providing <br /> information to prospective lenders. The Developer may use sources of funds from private investors <br /> if the Developer identifies such private investors. Developer shall provide the Agency with a copy of <br /> any partnership agreement or other document describing the terms of investor's participation in the <br /> project. The Agency, or its Executive Director, may request additional financial information <br /> regarding private investors, such as financial statements or statements of credit worthiness, provided <br /> such request is made in writing. The Agency shall only request such additional financial information <br /> for the purpose of determining whether sufficient funds will be available at the appropriate times to <br /> complete the Project. The Developer shall disclose any information regarding private investors <br /> requested by the Agency within 30 days of the written request; provided that such time period shall <br /> not extend other periods for performance by the Developer under this Agreement. <br /> 8 <br /> DOCSOC174604 I v4\24258.0002 <br />
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