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remedy the right to purchase the Property and Improvements thereon, within one <br />hundred eight (180) days from the earlier of: <br />(a) the failure to continuously operate new and used automobile sales <br />and leasing showrooms and lots, and related facilities; or <br />(b) the giving of notice to the Agency of the date as of which the new <br />and used automobile sales and leasing showrooms and lots, and related <br />facilities will cease operations: <br />The Agency shall give written notice of its election to purchase the Property and <br />Improvements within such one hundred and eighty (180) day period. <br />The cessation of operation of new and used automobile sales and leasing <br />showrooms and lots, and related facilities for remodeling or renovation for a period <br />not to exceed ninety (90) days or for a reasonable period caused by Enforced Delay <br />as set forth in Part Two, Section 3.04, shall not be deemed a cessation of operation <br />for purposes of this Part One, Section 4.04. This right of the Agency to elect to <br />purchase the Property and Improvements upon the cessation of new and used <br />automobile sales and leasing showrooms and lots, and related facilities shall continue <br />for a period of twenty (20) years from the date Developer satisfies the requirement <br />for issuance of a Certificate of Completion for the Improvements. <br />If the Agency gives notice of its election to purchase the Property and the <br />Improvements, the cost of the Property and the Improvements purchased pursuant to <br />this Section 4.04 shall be the fair market value, exclusive of inventory, store fixtures <br />and business goodwill, at the time of the breach as determined by a qualified real <br />estate appraiser mutually agreed upon by both parties. <br />4.05 Progress Reports. <br />Until construction of the Improvements has been completed, Developer <br />authorizes the Agency to have full access to all building inspection reports and other <br />information at the City of San Leandro to assist the Agency in reviewing the actual <br />progress of construction. Developer shall allow the Agency to review construction <br />documents and records maintained by Developer in the ordinary course of the <br />construction as may be reasonably requested by the Agency. <br />Disposition and Development Page 13 of 39 <br />Agreement (Automall) <br />10/2/96 <br />