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• • • <br /> Article Three: DEVELOPMENT PLANS <br /> 3.01 Preliminary Development Plan. <br /> Within twelve (12) months of the execution of this Agreement, Participant shall submit for Agency <br /> approval a Preliminary Development Plan for the Development, which shall include paving, ighting, <br /> landscaping and building(s). The Preliminary Development Plan shall also include a Business Plan confirming <br /> the name and identity of the dealership franchise being located on the Site. <br /> The Agency will review the Business Plan and may require reasonable alterations and modifications <br /> to it. If the Agency determines that reasonable alterations and modifications are required,the Agercy shall <br /> notify Participant in writing within twenty (20) days of submittal of the Business Plan. If the Agency fails to <br /> notify Participant that reasonable alterations or modifications to the Business Plan are required within said <br /> twenty(20) day period, the Business Plan shall be deemed approved by the Agency. <br /> Within twenty(20)days of submittal of the Preliminary Development Plan to the Agency for approval, <br /> the Agency shall approve or disapprove the Preliminary Development Plan and notify Participant in writing of <br /> its approval or disapproval. If the Agency fails to notify Participant of its approval or disapproval of Preliminary <br /> Development Plan within said twenty (20) day period, the Preliminary Development Plan shall be deemed <br /> approved by the Agency. <br /> 3.02 Final Development Plan. <br /> Within fifteen (15) months of the execution of this Agreement, Participant shall submit for Agency <br /> approval a Final Development Plan for the Development. The Final Development Plan shall be substantially <br /> consistent with the Preliminary Development Plan and the Redevelopment Plan and shall describe all <br /> improvements necessary for the Development(the "Improvements"). Specifically, the Final Development <br /> Plan shall set forth in drawings and models and/or elevations the size and location of building(s),the number <br /> and location of parking spaces,the specific treatment and location of all landscaping amenities,the location <br /> of all pedestrian and automobile ingress and egress points,the proposed uses of the various portiols of the <br /> building(s), and the location of other public streets and improvements(collectively,the "Improvements"). <br /> Within fifteen (15) days of submittal of the Final Development Plan to the Agency for approval, the <br /> Agency shall approve or disapprove of the Final Development Plan and notify Participant in writ ng of its <br /> approval or disapproval. If the Agency fails to notify Participant of its approval or disapproval of Final <br /> Development Plan within said fifteen(15)day period,the Final Development Plan shall be deemed approved <br /> by the Agency. Once the Final Development Plan is approved by the Agency, it shall form a part of this <br /> Agreement. <br /> Any material change,modification,revision or alteration of the approved Final Development Plan shall <br /> be submitted for approval by the Agency. If such change, modification, revision or alterations is not so <br /> approved, the approved Final Development Plan shall continue to control. Any proposed materia change, <br /> modification, revision or alteration to the Final Development Plan shall be approved or disapproved by the <br /> Agency within fifteen (15) days of submittal and, if not approved or disapproved within said fifteen (15)day <br /> Owner Participation Agreement Page 4 of 18 <br />