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04-09-10 Packet
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B. Time for Submitting Financial Commitment. Prior to closing on the sale of the <br />Property, the Developer shall submit to the Commission evidence satisfactory to the Commission of <br />binding commitments for financing the Project. <br />SECTION V. COMPLETION. <br />A. Certificate of Completion. Promptly after the Developer completes the Project under <br />this Contract and in substantial accordance with the Development Plan approved by the <br />Commission, the Commission shall furnish the Developer with a Certificate of Completion for the <br />Project. Completion of the easternmost building shall not be required prior to the issuance of a <br />Certificate of Completion. It shall be Developer's option to complete the easternmost building <br />subsequent to its obtaining the Certificate of Completion. The Certificate shall be a conclusive <br />determination of satisfaction and termination of all covenants, requirements, obligations and the like <br />in the Contract and Deed for the Project, except the covenants of Section VI of the Contract and <br />Section III of the Deed. After the final issuance of the Certificate of Completion for the Project by <br />the Commission, neither the Commission nor any other party shall thereafter have or be entitled to <br />exercise any rights, remedies or controls otherwise available with respect to the Property as a result <br />of a default in or breach of any provisions of the Contract or the Deed by the Developer or any <br />successor in interest or assign, unless: <br />1. the Developer, any lessee, or any other successor in interest or assign defaults <br />or breaches the covenants of Section VI of the Contract or Section III of the <br />Deed, and <br />2. the right, remedy or control relates to such default or breach. <br />B. Form of Certification. The Certificate provided for in this Section shall be in such <br />form as to be recordable in the St. Joseph County Recorder's Office. <br />C. Refusal or Failure to Provide Certificate. If the Commission refuses or fails to <br />provide the Certificate within thirty (30) days after the Developer's written request, the Commission <br />shall provide the Developer with a written statement indicating how the Developer failed to comply <br />with the provisions of this Contract and giving the measures necessary, in the Commission's <br />opinion, for the Developer to take in order to obtain such Certificate. <br />SECTION VI. RESTRICTIONS UPON USE OF PROPERTY. <br />A. Agreements of Developer. The Developer agrees and the Deed shall state that the <br />Developer and its successors and assigns shall: <br />Devote the Property only to uses under the Final Site Plan and Development <br />Specifications of the Project as approved by the Commission pursuant to <br />Section IV(A) of this Contract; and <br />4 <br />
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