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A Faithful Performance Guaranty in the sum of <br />Dollars ($ ), an amount equal to at least 10% of the total amount offered for <br />the real property described in Exhibit "A ", it being understood by the Applicant that the Faithful <br />Performance Guaranty shall guarantee the Applicant's execution of and performance of the purchase or <br />lease agreement. The Faithful Performance Guaranty will be refunded to the successful Applicant at such <br />time the Commission deems that the improvements to the land, as proposed, have been completed and the <br />Commission as evidenced by a Certificate of Completion issued by the Commission. The Faithful <br />Performance Guaranty will be refunded in the event this offer is rejected. <br />Acceptance or rejection of Applicant's proposal shall be made by depositing such notification in <br />the US Mail addressed to the undersigned (Applicant) at the address set forth below. <br />In submitting this offer to purchase or lease, it is understood that the right to reject such offer is <br />reserved by the Commission. The undersigned further agrees to execute a contract for the purchase or <br />lease of land for development in the form prepared by the Department within thirty (30) days after <br />notification of acceptance of this offer and to develop and use the above identified parcel(s) of land in <br />conformity with the Federal, State and Local ordinances and regulations; applicable Development Plan; the <br />Bid Specifications & Design Considerations; and the Narrative Description and maps and plans as <br />submitted herein, with amendments, if any, as approved by the Commission. <br />Dated <br />ATTEST: (BY SECRETARY OF A Corporation) <br />Signature <br />Name (type) <br />Title <br />Address: <br />Respectfully submitted, <br />Name of Individual or Corporation <br />By: <br />Signature <br />Name (type) <br />Title <br />Address: <br />2 <br />