Laserfiche WebLink
4 <br />SECTION 4. DEVELOPERS’ 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 Developers’ commitment to perform and abide by the covenants and <br />obligations of the Developers contained in this Agreement. <br />4.2 The Project. <br />(a)The Developers will perform all necessary work to complete the <br />improvements set forth in the Project Plan attached hereto as Exhibit C and the plans and <br />specifications to be approved by the City Planner, or his designee, pursuant to Section 4.7 <br />(“Submission of Plans and Specifications for Project”) of this Agreement, which <br />improvements shall comply with all zoning and land use laws and ordinances. <br />(b)The Developers will expend the Private Investment to complete the Project <br />in accordance with the Project Plan attached hereto as Exhibit C and the plans and <br />specifications to be approved by the Commission pursuant to Section 4.7 (“Submission of <br />Plans and Specifications for Project”) of this Agreement. <br />4.3 Cooperation. The Developers agree 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 Developers agree to obtain any and all <br />easements from any governmental entity and/or any other third parties that the Developers 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 Developers hereby agree to complete the Project <br />as set forth in the Project Plan and any other obligations the Developers may have under this <br />Agreement by December 31, 2026 (the “Mandatory Project Completion Date”). The Developers <br />further agree the total Project will be completed in accordance with the Project Plan attached hereto <br />as Exhibit C. <br />Notwithstanding any provision of this Agreement to the contrary, the Developers ’ failure to <br />complete the Project or any other obligations the Developers 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. <br />4.6 Reporting Obligations. <br />(a)Upon the letting of contracts for substantial portions of the Project and again <br />upon substantial completion of the Project, the Developers hereby agree to report to the <br />Commission the number of local contractors and local laborers involved in the Project, the