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A Faith ul P'r ~ rmance Guaranty in the sum of <br />Dollars ($ ), an amount equal ro at leash-~ °ro of die total amount offered for <br />the real property escribed in Exhibit °A~~, it being understood by the Applicant that the Faithful <br />Performance Guaranty shall guarantee the Applicants 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 die land, as proposed_ have been completed and the <br />Commission as e~~idenced by a Certificate of Completion issued by the Commission. The Faithful <br />Performance Guaranty will be refunded in the event dais 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 />confonniry ~~~ith the Federal, State and Local ordinances and regulations; applicable Development Plan; <br />and the Narrati~~e Description and maps and plans as submitted herein, with amendments, if any, as <br />approved by die Commission. <br />ITTEST- rBY~SECRET~R}~OF a Curpu~~urfuni Id~G'~~<s_ <br />Si~~nunut~ <br />\~une itr/~~y <br />Tirlr <br />a~hL~-v~ <br />