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3 <br />of the Local Public Improvements. The Easement shall (a) inure to the benefit of the Commission <br />and the Board of Works or any contractors acting on behalf of the Commission in connection with <br />the construction, equipping, inspection, and delivery of the Local Public Improvements; (b) shall <br />bind the Developer and its grantees, successors, and assigns; and (c) shall terminate no later than <br />upon completion of the Local Public Improvements, as determined by the Board of Works. <br />SECTION 4. DEVELOPER’S OBLIGATIONS. <br />4.1 Generally. The Parties acknowledge and agree that the Commission’s agreements <br />to perform and abide by the covenants and obligations set forth in this Agreement are material <br />consideration for the Developer’s commitment to perform and abide by the covenants and <br />obligations of the Developer contained in this Agreement. <br />4.2 The Project. <br />(a) The Developer will perform all necessary work to complete the <br />improvements set forth in the Project Plan attached hereto as Exhibit B and the plans and <br />specifications to be approved by the City Planner, or his designee, pursuant to Section 4.8 <br />of this Agreement, which improvements shall comply with all zoning and land use laws <br />and ordinances. <br />(b) The Developer will expend at least One Million Dollars ($1,000,000.00) of <br />the Private Investment to complete the first portion of the Project in accordance with the <br />Project Plan attached hereto as Exhibit B and the plans and specifications to be approved <br />by the Commission pursuant to Section 4.8 of this Agreement. <br />4.3 Cooperation. The Developer agrees to endorse and support the Commission’s <br />efforts to expedite the Local Public Improvements through any required planning, design, public <br />bidding, construction, inspection, waiver, permitting, and related regulatory processes. <br />4.4 Obtain Necessary Easements. The Developer agrees to obtain any and all <br />easements from any governmental entity and/or any other third parties that the Developer or the <br />Commission deems necessary or advisable in order to complete the Local Public Improvements, <br />and the obtaining of such easements is a condition precedent to the Commission’s obligations <br />under this Agreement. <br />4.5 Timeframe for Completion. The Developer hereby agrees to complete the Project <br />and any other obligations the Developer may have under this Agreement, including the activation <br />of a portion of the Developer Property as set forth in the Project Plan, by the date that is thirty-six <br />(36) months after the Effective Date of this Agreement (the “Mandatory Project Completion Date”). <br />Notwithstanding any provision of this Agreement to the contrary, the Developer’s failure to <br />complete the Project or any other obligations the Developer may have under this Agreement by <br />the Mandatory Project Completion Date will constitute a default under this Agreement without <br />any requirement of notice of or an opportunity to cure such failure.