Avalon Wall Sample Clauses

Avalon Wall. Prior to issuance of the first certificate of occupancy for the first light industrial building proposed as part of the Project, Developer shall pay a fair share contribution to the rehabilitation and beautification of the wall along the east side of Avalon Blvd. from E. University St. to Elsmere Dr. (“Avalon Wall”), not to exceed 30 percent of the total cost and in no case in excess of $3,000,000 (the “Avalon Wall Contribution Funds”). Developer shall advance $100,000 of the Avalon Wall Contribution Funds to the City prior to issuance of a building permit for the Project to fund the development of plans and specifications for the Avalon Wall. The Avalon Wall Contribution Funds shall be held in a segregated account by the City and shall be refunded to Developer (or its designated assignee) if such funds have not been used for the rehabilitation/beautification of the Avalon Wall by January 31, 2032.
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