Reso 1997-101 to 105 - Laserfiche WebLink

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(f) Developer shall execute a promissory note and deed of trust, the form of which is attached hereto as Exhibits G and H, for the Additional Payment no later than 12 months from the Date of Operation. (4) Approximately One Million Dollars ($1,000,000) of the Purchase Price shall be spent by the Developer to provide building architecture upgrades, site amenities, and funds for tenant improvements for preferred tenants. Upon the Date of Operation, the Developer must provide an accounting of construction costs indicating that at least $1,000,000 has been expended on the architectural and site upgrades as defined in Section 1.05. The accounting must contain complete and written invoices and receipts. If Developer spends less than $1,000,000 on the architectural and site upgrades, the difference between the amount spent and (S 1,000,000) shall be due and payable to the Agency within ninety (90) days of the Date of Operation 3.04 Opening Escrow. To accomplish the purchase and transfer of the Property, the Parties shall upon execution of this Agreement establish an escrow with Placer Title Company, 801 Davis Street, San Leandro, CA 94577. The Parties shall execute and deliver all written instructions to the Escrow Agent to accomplish the terms hereof, so long as such instructions are consistent with this Agreement. 3.05 Close of Escrow. The above -mentioned escrow shall close after the conditions specified in Sections 1.02 through 1.09 have been satisfied, and no later than one hundred eighty (180) days after execution of this Agreement, provided that as of the Close of Escrow, there shall have been no material adverse change in the physical or title conditions of the Property from the conditions theretofore approved by Developer; and that no moratorium, statute, order, regulation, ordinance, legislation, judgment, ruling, assessment or decree of any court or governmental agency shall have been enacted, adopted, issued, entered, or be pending that could materially and adversely affect the Property and/or Developer's ability to develop and operate its Improvements. Disposition and Development Page 18 Agreement (Creekside Center) 7/23/97, 8/5/97, 8/11/97, 8/12/97