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<br />8 <br /> <br />or any of the City Bodies is entitled to delay its performance under this Agreement and (ii) the <br />Company or such City Body anticipates that such permitted delay will cause a delay in its <br />performance under this Agreement, then the Company or such City Body, as the case may be, agrees <br />to provide written notice to the other parties of this Agreement of the nature and the anticipated <br />length of such delay. <br />4.06 Inspection of the Project. The Company shall, upon commercially reasonable <br />written notice delivered to the Developer, permit the City to perform an inspection of the Project, <br />which inspection may be conducted by a third party inspector engaged by the City for such purpose, <br />to determine compliance with the provisions of this Agreement and any applicable plans, <br />specifications, permits or other related Project documentation which may have been approved by <br />the City in connection therewith. Within five business days or less after such an inspection, the <br />City may deliver to Developer a non-compliance notice in the event the City reasonably determines <br />there is a material defect in the Project. Such non-compliance notice shall specify the material <br />defect identified by the City. If the City timely delivers a non -compliance notice, then Company <br />shall correct, or cause to be corrected, as soon as is practicable, all material defects identified in the <br />non-compliance notice, except and to the extent that any such material defects previously have been <br />accepted, or deemed to have been accepted, by the City. Notwithstanding anything to the contrary <br />set forth herein, all items or components of the Project with respect to which no material defects <br />are identified in a timely non-compliance notice shall be deemed to be accepted by the City. <br />Additionally, and to the greatest extent possible, all identified material defects shall be corrected <br />immediately and all field changes shall be noted by the inspection and approved by the City. In the <br />case of any such inspections, the personnel conducting the inspection shall: (i) comply with all <br />health and safety rules of which such individuals have been informed that have been established for <br />personnel present on the Project Site and (ii) coordinate the timing of the inspection so that the <br />inspection does not interfere with the performance of construction. The Company shall have the <br />right to accompany, and/or have its construction manager accompany, the personnel conducting the <br />inspection. Such inspection rights provided hereunder in no way otherwise limits the City from <br />undertaking inspections pursuant to applicable Laws. If the Company delivers to the City a written <br />request for a final inspection of the Project, then, on or before the later of the date that is ten (10) <br />business days after: (a) receipt of such request; or (b) the date specified in such request as the <br />substantial completion date; the City shall: (i) conduct a final inspection; and (ii) deliver a non - <br />compliance notice (if applicable) to the Company; provided that: (A) upon receipt of a Non - <br />Compliance Notice, the Company shall correct, or cause to be corrected, as soon as is practicable, <br />all material defects in the Project identified in the non-compliance notice; and (B) all then- <br />completed items or components of the Project with respect to which no material defects are <br />identified in a timely non-compliance notice shall be deemed to be accepted by the City. The failure <br />of the City to conduct the final inspection within the required timeframe shall be deemed a waiver <br />of its right to conduct such inspection and its determination that no material defects in the Project <br />exist. An acceptance, or deemed acceptance, by the City pursuant to this Section 4.06 shall mean <br />that the City has fully and finally accepted the Project as being in compliance with the terms and <br />conditions of this Agreement, and the City shall be deemed to have waived any further right to <br />assert material defects in the Project as it relates to this Agreement. Notwithstanding the foregoing, <br />this Section shall only apply to the City’s ability to ensure the Company’s compliance with this <br />Agreement. This Section shall not be construed as a waiver of the City’s ability to otherwise <br />conduct ongoing inspections by its departments, including, but not limited to, building, fire, zoning, <br />or public works, in the normal course of business. Within twenty (20) business days after receipt