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• <br /> 4.02 Construction Pursuant to Plans. <br /> Unless modified by operation of Section 4.03 below,all works of construction and development on the <br /> Site shall be done in accordance with the Construction Plans approved pursuant to Section 3.03 above. <br /> 4.03 Change in Construction Plans. <br /> If Participant desires to make any material change in the Construction Plans, Participant shall submit <br /> the proposed change to the Agency for its approval, which approval shall not be unreasonably withheld or <br /> delayed. If the Construction Plans,as modified by any proposed change,conform to the requirements of this <br /> Agreement, the Agency shall approve the change by notifying Participant in writing. Unless said proposed <br /> change is rejected by the Agency within fifteen(15)days,it shall be deemed approved. If rejected within such <br /> time period, the previously approved Construction Plans shall continue to remain in full force and effect. <br /> Any change in the Construction Plans required to comply with any applicable codes shall be deemed <br /> approved, so long as such changes do not substantially nor materially change the architecture, design, <br /> function, use, or other amenities of the Development as shown in the latest approved Construction Plans. <br /> 4.04 Construction Plans Must Be Approved. <br /> Notwithstanding any other provision of this Agreement, Participant shall not commence any <br /> construction of the Improvements until it has first received approval by the Agency of the Construction Plans <br /> as provided in Sections 3.03 and 4.02 of this Agreement. Any breach of this Section 4.04 shall afford the <br /> Agency its rights under Section 7.02 of this Agreement. <br /> 4.05 Commencement and Completion of Construction. <br /> Participant,for itself,its successors and assigns,hereby covenants and agrees diligently to commence <br /> construction of the Improvements within twenty-four(24) months of the execution of this Agreemert and to <br /> attempt to complete the construction of the Improvements within nine (9) months thereafter. <br /> 4.06 Progress Reports. <br /> Until construction of the Improvements has been completed,Participant authorizes 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. Participant shall allow the Agency to review construction documents and <br /> records maintained by Participant in the ordinary course of the construction as may be reasonably requested <br /> by the Agency. <br /> 4.07 Agency to Receive Copy of Construction Contract. <br /> In the event that the Participant 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 /> Owner Participation Agreement Page 6 of 18 <br />