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City staff shall work cooperatively with Developer to assist in coordinating the <br />expeditious processing and consideration of all permits, entitlements and approvals necessary for <br />development of the Project on the Property as contemplated by this Agreement. <br />4.4 Fees. Developer shall be solely responsible for, and shall promptly pay when due, <br />all customary and usual fees and charges of City in connection with obtaining building permits <br />and other approvals for the Project, including without limitation, those related to the processing <br />and consideration of amendments, if any, to the current entitlements, any related approvals and <br />permits, environmental review, architectural review, historic review, and any subsequent <br />approvals for the Project. <br />4.5 Cost of Acquisition and Construction. Except as expressly set forth herein, <br />Developer shall be solely responsible for all direct and indirect costs and expenses incurred in <br />connection with the acquisition and development of the Property, and none of such costs and <br />expenses shall be the obligation of the City. <br />4.6 Development Schedule. Developer shall commence and complete construction of <br />the Project and development of the Property and shall satisfy all other obligations of Developer <br />under this Agreement within the time periods set forth herein, as such time periods may be <br />extended upon the mutual written consent of the Parties. Subject to force maj eure, Developer <br />shall commence construction of the Project not later than ninety (90) days following the Closing <br />Date, and Developer shall diligently prosecute the construction work to completion in order to <br />allow City to issue a final certificate of occupancy within eighteen (18) following <br />commencement of construction, but in no event later than twenty -four (24) months following the <br />Effective Date. Subject to force majeure, Developer's failure to commence or complete the <br />Project in accordance with the time periods specified in this Section 4.6 shall be an Event of <br />Default hereunder. <br />4.7 Rights of Access. For the purpose of ensuring that the development of the Project <br />and the Property are completed in compliance with this Agreement, Developer shall permit <br />representatives of the City to enter upon the Property following 24 hours written notice (except <br />in the case of emergency in which case such notice as may be practical under the circumstances <br />shall be provided). <br />4.8 City Disclaimer. Developer acknowledges that the City is under no obligation, <br />and City neither undertakes nor assumes any responsibility or duty to Developer or to any third <br />party, to in any manner review, supervise, or inspect the progress of construction or the operation <br />of the Project. Developer and all third parties shall rely entirely upon its or their own supervision <br />and inspection in determining the quality and suitability of the materials and work, the <br />performance of architects, subcontractors, and material suppliers, and all other matters relating to <br />the construction and operation of the Project. Any review or inspection undertaken by the City is <br />solely for the purpose of determining whether Developer is properly discharging its obligations <br />under this Agreement, and shall not be relied upon by Developer or any third party as a warranty <br />or representation by the City as to the quality of the design or construction of the improvements <br />or otherwise. <br />1875524.3 13 <br />