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5 <br /> <br /> <br />shall provide proof of such adequate insurance to the Commission and shall notify the Commission <br />and the City of any change in or termination of such insurance. During the period of construction <br />or provision of services regarding any Local Public Improvements, the Developer shall maintain <br />insurance in the kinds and for at least the minimum amounts as described in Exhibit F attached <br />hereto and the Commission and the City shall be named as additional insureds on such policies <br />(but not on any worker’s compensation policies). <br />4.12 Information. The Developer agrees to provide any and all due diligence items with <br />respect to the Project reasonably requested by the Commission. <br />4.13 Option to Purchase. In consideration of the Commission’s commitment to <br />construct the Local Public Improvements, Developer agrees to grant the Commission an exclusive <br />option to purchase the Developer Property (“Option”) in the form Option to Purchase Agreement <br />attached hereto as Exhibit G, which shall be executed herewith. The Option shall be triggered <br />only if Developer fails (a) to complete the Project by the Mandatory Project Completion Date, or <br />(b) to expend the full amount of the Private Investment by the Mandatory Project Completion Date. <br />As further evidence of the Option, the Parties shall execute, record, and place of record a <br />memorandum of this Option, in the form attached hereto as Exhibit H, in the office of the County <br />Recorder of St. Joseph County, Indiana. Promptly upon substantial completion of the Project, as <br />evidenced by a Certificate of Occupancy, and submission of proof of full Private Investment <br />expended, each prior to the Mandatory Project Completion Date, the Commission will issue to <br />Developer a certificate acknowledging such completion and expenditures and releasing the <br />Commission’s Option on the Developer Property (the “Certificate of Completion”). The Parties <br />agree to record the Certificate of Completion immediately upon issuance, and Developer will pay <br />the costs of recordation. <br /> <br />SECTION 5. COMMISSION’S OBLIGATIONS. <br />5.1 Generally. The Parties acknowledge and agree that the Developer’s agreement to <br />perform and abide by the covenants and obligations set forth in this Agreement is material <br />consideration for the Commission’s commitment to perform and abide by the covenants and <br />obligations of the Commission contained in this Agreement. <br />5.2 Completion of Local Public Improvements. <br />(a) The Commission hereby agrees to complete (or cause to be completed) the <br />Local Public Improvements described in Exhibit C attached hereto on a schedule to be <br />reasonably determined and agreed to by the Commission and the Developer, as may be <br />modified due to unforeseen circumstances and delays. <br />(b) Before any work on the Local Public Improvements will commence, (a) the <br />Commission will have received satisfactory plans and specifications for the Project and <br />responded in accordance with Section 4.7 (“Submission of Plans and Specifications for <br />Project”) of this Agreement, and (b) the Engineering Department will have received <br />satisfactory bid specifications for the Local Public Improvements and approved the same