Common use of Certificates of Completion Clause in Contracts

Certificates of Completion. Once Developer has completed construction of all improvements required for any portion of the Project located within any particular legal parcel within the Project to City’s satisfaction, City shall furnish Developer with a Certificate of Completion for such portion of the Project within thirty (30) calendar days of Developer’s written request therefor (so long as the City has received a no objection letter from DTSC confirming DTSC’s approval of such Certificate of Completion within such thirty (30) day timeframe, and if not, then City’s obligations shall be extended until such time as DTSC has issued its approval for such Certificate of Completion); provided that City finds that Developer has completed such portion of the Project pursuant to the terms of this Agreement and the Existing Development Approvals. The Certificate of Completion shall be executed and notarized so as to permit it to be recorded in the Official Records. The “Certificate of Completion” shall be a certificate stating that it constitutes conclusive determination of satisfactory completion of the construction of the improvements required by this Agreement upon the applicable portion of the Developer Property for the applicable portion of the Project, and of full compliance with the terms of this Agreement with respect thereto. City shall not unreasonably withhold, condition or delay the Certificate of Completion so long as such portion of the Project, and with respect to the first Certificate of Completion to be issued only, the Remainder Cells Remedial Systems, BPS, and Site Development Improvements, and Offsite Improvements, have been constructed and completed to City’s satisfaction. A Certificate of Completion shall not constitute evidence of compliance with or satisfaction of any obligation of Developer to any Lender or any insurer of a Mortgage securing money loaned to finance the improvements, or any part thereof. A Certificate of Completion is not notice of completion as referred to in the California Civil Code Section 8182. Nothing herein shall prevent or affect Developer’s right to obtain a Certificate of Occupancy from City before any Certificate of Completion is issued. Issuance of a Certificate of Occupancy other than for the shell and core shall not be a pre-condition to issuance of a Certificate of Completion.

Certificates of Completion. Once Developer has completed Promptly after Substantial Completion of construction of all improvements required for the Improvements in any portion of the Project located within any particular legal parcel within the Project to City’s satisfaction, City shall furnish Developer with a Certificate of Completion for such portion of the Project Block and within thirty (30) calendar days of Developer’s after written request therefor (so long as by the City has received Redeveloper, the Agency shall deliver to the Redeveloper a no objection letter from DTSC confirming DTSC’s approval of such duly executed, witnessed and acknowledged Certificate of Completion within with respect to such thirty Improvements. If any Punch List Items remain incomplete, the Agency may require as a condition of issuance thereof that the Redeveloper deliver its undertaking to complete same as soon as reasonably practicable, weather permitting, with such security (30which shall not be duplicative of any hold back described in Section 8.4 hereof) day timeframeto assure performance as the Agency reasonably may determine to be appropriate under the circumstances. Such certification by the Agency (i) shall be a conclusive determination of satisfaction and termination of the agreements and covenants in this Agreement with respect to the obligations of the Redeveloper, and if notits successors and assigns, then City’s obligations shall be extended until to construct such time as DTSC has issued its approval Improvements and the dates for the beginning and completion thereof; and (ii) with respect to the lease or conveyance of any such Certificate of Completion); provided that City finds that Developer has completed such Improvement and the portion of the Project pursuant property upon which same is erected, shall mean and provide (1) that any party purchasing or leasing such completed Improvement and/or such individual part or parcel of the Project property shall not (because of such purchase or lease) incur any obligation with respect to the terms construction of the Improvements relating to such part or parcel or to any other part or parcel of the Project property; and (2) that neither the Agency nor any other party shall thereafter have or be entitled to exercise with respect to any such completed Improvements or such individual parts or parcels so sold (or, in the case of lease, with respect to the leasehold interest) any rights or remedies or controls that it may otherwise have or be entitled to exercise with respect to the Project property to which the Certificate of Completion relates as a result of a default in or breach of any provisions of this Agreement and by the Existing Development ApprovalsRedeveloper or any successor in interest or assign. The Each Certificate of Completion provided for in this Section 26.1 shall be executed and notarized so in such form as to permit will enable it to be recorded in the Official Records. The “Certificate of Completion” shall be a certificate stating that it constitutes conclusive determination of satisfactory completion of the construction of the improvements required by this Agreement upon the applicable portion of the Developer Property proper office for the applicable portion recordation of the Project, deeds and of full compliance with the terms of this Agreement with respect thereto. City shall not unreasonably withhold, condition or delay the Certificate of Completion so long as such portion of the Project, and with respect other instruments pertaining to the first Certificate of Completion to be issued only, the Remainder Cells Remedial Systems, BPS, and Site Development Improvements, and Offsite Improvements, have been constructed and completed to City’s satisfaction. A Certificate of Completion shall not constitute evidence of compliance with or satisfaction of any obligation of Developer to any Lender or any insurer of a Mortgage securing money loaned to finance the improvements, or any part thereof. A Certificate of Completion is not notice of completion as referred to in the California Civil Code Section 8182. Nothing herein shall prevent or affect Developer’s right to obtain a Certificate of Occupancy from City before any Certificate of Completion is issued. Issuance of a Certificate of Occupancy other than for the shell and core shall not be a pre-condition to issuance of a Certificate of CompletionProject property.

Certificates of Completion. Once Developer has completed construction The CDA shall promptly upon Substantial Completion furnish: (i) to the Company, with regard to the "shell"5 of all improvements required for any portion each of the Project located within any particular legal parcel within RPC Commercial Building, Residential Tower East, Residential Tower West, Palisades Point, the Project to City’s satisfactionGovernment Center Building, City shall furnish Developer with a Certificate of Completion for such portion the Palisade Avenue Office Building and the CC Commercial Building (but, in the case of the Project within thirty (30) calendar days CC Commercial Building, only after the issuance of Developer’s written request therefor (so long as a temporary certificate of occupancy for the City has received a no objection letter from DTSC confirming DTSC’s approval Office Condominium Unit); (ii) to the YIDA, with regard to each of the Public Parking Facilities; and (iii) to the YIDA Affiliate, with regard to the City Office Condominium Unit, the Temporary Fire Headquarters, the Replacement Fire Headquarters, Daylighting and Riverwalk, and Waterfront Public Improvements, an instrument in the form attached hereto as Exhibit 5.1(h) certifying the completion of such Certificate of Completion within such thirty improvement in accordance with this Agreement (30) day timeframe, and if not, then City’s obligations shall be extended until such time as DTSC has issued its approval for such each a "Certificate of Completion); provided that City finds that Developer has completed such portion " and collectively, the "Certificates of the Project pursuant to the terms of this Agreement and the Existing Development ApprovalsCompletion. The Each Certificate of Completion shall be executed (and notarized it shall be so provided in the Deed to the Disposition Parcels) a conclusive determination of satisfaction and termination of all of the obligations under this Agreement of the Company, the YIDA and the YIDA Affiliate to construct and complete the identified improvements. The Certificates of Completion shall be in such form as to permit it will enable them to be recorded in the Official RecordsClerk’s Office, and may be so recorded in the Clerk’s Office by the Company, the YIDA and the YIDA Affiliate. The “If the CDA shall refuse or fail to furnish a Certificate of Completion” shall be Completion upon the request of the Company, the YIDA or the YIDA Affiliate and otherwise in accordance with this Agreement, the CDA shall, within ten (10) days after the request is received, provide the Company, the YIDA and/or the YIDA Affiliate with a certificate stating written statement specifying in detail in what respects the Company, the YIDA and/or the 5 A structure that it constitutes conclusive determination has been fully enclosed, with all structural supports finalized and all fire safety and life safety measures put in place with exits established to access completed ingress and egress to public right of satisfactory completion of ways. YIDA Affiliate has failed to complete the construction of the improvements required by this Agreement upon the applicable portion relevant component of the Developer Property Project in accordance with specified provisions of this Agreement, and what measures or acts it will be necessary for the applicable portion of the Project, and of full compliance with the terms of this Agreement with respect thereto. City shall not unreasonably withhold, condition or delay the Certificate of Completion so long as such portion of the Project, and with respect to the first Certificate of Completion to be issued onlyCompany, the Remainder Cells Remedial Systems, BPS, and Site Development Improvements, and Offsite Improvements, have been constructed and completed YIDA and/or the YIDA Affiliate to City’s satisfaction. A Certificate of Completion shall not constitute evidence of compliance with take or satisfaction of any obligation of Developer to any Lender or any insurer of a Mortgage securing money loaned to finance the improvements, or any part thereof. A Certificate of Completion is not notice of completion as referred to perform in the California Civil Code Section 8182. Nothing herein shall prevent or affect Developer’s right order to obtain a Certificate of Occupancy from City before any Certificate of Completion is issuedCompletion. Issuance of a Certificate of Occupancy other than for Any dispute with respect to the shell and core shall not be a pre-condition to issuance of a Certificate of CompletionCompletion shall be subject to arbitration in accordance with Article 12 of this Agreement.

Certificates of Completion. Once Developer has completed construction The CDA shall promptly upon Substantial Completion furnish: (i) to the Company, with regard to the shell of all improvements required for any portion each of the Project located within any particular legal parcel within RPC Commercial Building, Residential Tower East, Residential Tower West, the Project to City’s satisfactionGovernment Center Building, City shall furnish Developer with a Certificate of Completion for such portion the Palisade Avenue Office Building and the CC Commercial Building (but, in the case of the Project within thirty (30) calendar days CC Commercial Building, only after the issuance of Developer’s written request therefor (so long as a temporary certificate of occupancy for the City has received a no objection letter from DTSC confirming DTSC’s approval Office Condominium Unit); (ii) to the YIDA, with regard to each of the Public Parking Facilities; and (iii) to the YIDA Affiliate, with regard to the City Office Condominium Unit, the Temporary Fire Headquarters, the Replacement Fire Headquarters, Daylighting and Riverwalk, and Waterfront Public Improvements, an instrument in the form attached hereto as Exhibit 5.1(hi) certifying the completion of such Certificate of Completion within such thirty improvement in accordance with this Agreement (30) day timeframe, and if not, then City’s obligations shall be extended until such time as DTSC has issued its approval for such each a "Certificate of Completion); provided that City finds that Developer has completed such portion " and collectively, the "Certificates of the Project pursuant to the terms of this Agreement and the Existing Development ApprovalsCompletion. The Each Certificate of Completion shall be executed (and notarized it shall be so provided in the Deed to the Disposition Parcels) a conclusive determination of satisfaction and termination of all of the obligations under this Agreement of the Company, the YIDA and the YIDA Affiliate to construct and complete the identified improvements. The Certificates of Completion shall be in such form as to permit it will enable them to be recorded in the Official RecordsClerk’s Office, and may be so recorded in the Clerk’s Office by the Company, the YIDA and the YIDA Affiliate. The “If the CDA shall refuse or fail to furnish a Certificate of Completion” shall be Completion upon the request of the Company, the YIDA or the YIDA Affiliate and otherwise in accordance with this Agreement, the CDA shall, within ten (10) days after the request is received, provide the Company, the YIDA and/or the YIDA Affiliate with a certificate stating that it constitutes conclusive determination of satisfactory completion of written statement specifying in detail in what respects the Company, the YIDA and/or the YIDA Affiliate has failed to complete the construction of the improvements required by this Agreement upon the applicable portion relevant component of the Developer Property Project in accordance with specified provisions of this Agreement, and what measures or acts it will be necessary for the applicable portion of the Project, and of full compliance with the terms of this Agreement with respect thereto. City shall not unreasonably withhold, condition or delay the Certificate of Completion so long as such portion of the Project, and with respect to the first Certificate of Completion to be issued onlyCompany, the Remainder Cells Remedial Systems, BPS, and Site Development Improvements, and Offsite Improvements, have been constructed and completed YIDA and/or the YIDA Affiliate to City’s satisfaction. A Certificate of Completion shall not constitute evidence of compliance with take or satisfaction of any obligation of Developer to any Lender or any insurer of a Mortgage securing money loaned to finance the improvements, or any part thereof. A Certificate of Completion is not notice of completion as referred to perform in the California Civil Code Section 8182. Nothing herein shall prevent or affect Developer’s right order to obtain a Certificate of Occupancy from City before any Certificate of Completion is issuedCompletion. Issuance of a Certificate of Occupancy other than for Any dispute with respect to the shell and core shall not be a pre-condition to issuance of a Certificate of CompletionCompletion shall be subject to arbitration in accordance with Article 12 of this Agreement. For purposes of this Agreement, Shell shall mean a structure that has been fully enclosed, with all structural supports finalized and all fire safety and life safety measures put in place with exits established to access completed ingress and egress to public right of ways.

Certificates of Completion. Once Developer has completed construction The CDA shall promptly upon Substantial Completion furnish: (i) to the Company, with regard to the shell of all improvements required for any portion each of the Project located within any particular legal parcel within RPC Commercial Building, Residential Tower East, Residential Tower West, the Project to City’s satisfactionGovernment Center Building, City shall furnish Developer with a Certificate of Completion for such portion the Palisade Avenue Office Building and the CC Commercial Building (but, in the case of the Project within thirty (30) calendar days CC Commercial Building, only after the issuance of Developer’s written request therefor (so long as a temporary certificate of occupancy for the City has received a no objection letter from DTSC confirming DTSC’s approval Office Condominium Unit); (ii) to the YIDA, with regard to each of the Public Parking Facilities; and (iii) to the YIDA Affiliate, with regard to the City Office Condominium Unit, the Temporary Fire Headquarters, the Replacement Fire Headquarters, Daylighting and Riverwalk, and Waterfront Public Improvements, an instrument in the form attached hereto as Exhibit 5.1(h) certifying the completion of such Certificate of Completion within such thirty improvement in accordance with this Agreement (30) day timeframe, and if not, then City’s obligations shall be extended until such time as DTSC has issued its approval for such each a "Certificate of Completion); provided that City finds that Developer has completed such portion " and collectively, the "Certificates of the Project pursuant to the terms of this Agreement and the Existing Development ApprovalsCompletion. The Each Certificate of Completion shall be executed (and notarized it shall be so provided in the Deed to the Disposition Parcels) a conclusive determination of satisfaction and termination of all of the obligations under this Agreement of the Company, the YIDA and the YIDA Affiliate to construct and complete the identified improvements. The Certificates of Completion shall be in such form as to permit it will enable them to be recorded in the Official RecordsClerk’s Office, and may be so recorded in the Clerk’s Office by the Company, the YIDA and the YIDA Affiliate. The “If the CDA shall refuse or fail to furnish a Certificate of Completion” shall be Completion upon the request of the Company, the YIDA or the YIDA Affiliate and otherwise in accordance with this Agreement, the CDA shall, within ten (10) days after the request is received, provide the Company, the YIDA and/or the YIDA Affiliate with a certificate stating that it constitutes conclusive determination of satisfactory completion of written statement specifying in detail in what respects the Company, the YIDA and/or the YIDA Affiliate has failed to complete the construction of the improvements required by this Agreement upon the applicable portion relevant component of the Developer Property Project in accordance with specified provisions of this Agreement, and what measures or acts it will be necessary for the applicable portion of the Project, and of full compliance with the terms of this Agreement with respect thereto. City shall not unreasonably withhold, condition or delay the Certificate of Completion so long as such portion of the Project, and with respect to the first Certificate of Completion to be issued onlyCompany, the Remainder Cells Remedial Systems, BPS, and Site Development Improvements, and Offsite Improvements, have been constructed and completed YIDA and/or the YIDA Affiliate to City’s satisfaction. A Certificate of Completion shall not constitute evidence of compliance with take or satisfaction of any obligation of Developer to any Lender or any insurer of a Mortgage securing money loaned to finance the improvements, or any part thereof. A Certificate of Completion is not notice of completion as referred to perform in the California Civil Code Section 8182. Nothing herein shall prevent or affect Developer’s right order to obtain a Certificate of Occupancy from City before any Certificate of Completion is issuedCompletion. Issuance of a Certificate of Occupancy other than for Any dispute with respect to the shell and core shall not be a pre-condition to issuance of a Certificate of CompletionCompletion shall be subject to arbitration in accordance with Article 12 of this Agreement. For purposes of this Agreement, Shell shall mean a structure that has been fully enclosed, with all structural supports finalized and all fire safety and life safety measures put in place with exits established to access completed ingress and egress to public right of ways.

Certificates of Completion. Once Developer has completed Promptly after completion of construction of all improvements required for the Improvements in any portion Phase of the Project located in accordance with this Agreement and the approved Construction Plans for such Phase, and within any particular legal parcel within thirty (30) days after written request of Redeveloper, the Project to City’s satisfaction, City Agency shall furnish Developer the Redeveloper with a Certificate of Completion with respect to such Phase duly executed in the form of Exhibit G, or in such other form as shall be mutually acceptable to the Agency and the Redeveloper (or in such modified form as may reasonably be requested by any Institutional Lender holding a mortgage on, or Institutional Investor owning an equity interest in, any portion of the Project). For purposes of this Section, “completion” shall mean that the Improvements, or the relevant portion thereof, have been sufficiently completed such that only minor details of construction finish and “punch list” type items, or exterior items of a decorative nature (e.g., landscaping, including, without limitation, planting, paving, site lighting, accessory structures, public art and other decorative elements), remain to be completed. If Redeveloper requests a Certificate of Completion, while such items remain unfinished, the Agency may require as a condition of issuance thereof that the Redeveloper deliver its undertaking to complete same as soon as reasonably practicable, weather permitting, with such security to assure performance as the Agency reasonably may determine to be appropriate under the circumstances. Such certification by the Agency (i) shall be (and it shall be so provided in the certificate) a conclusive determination of satisfaction and termination of the agreements and covenants in this Agreement with respect to the obligations of the Redeveloper, and its successors and assigns, to construct the Improvements on such Phase and the dates for the beginning and, except as noted below, completion thereof; and (ii) with respect to the lease or conveyance of any such completed Improvements and the portion of the Project within thirty Property upon which same are erected, shall mean and provide (301) calendar days that any party purchasing or leasing such completed Improvements and/or such individual part or parcel of Developer’s written request therefor the Project Property shall not (so long as the City has received a no objection letter from DTSC confirming DTSC’s approval because of such purchase or lease) incur any obligation with respect to the construction of the Improvements relating to such part or parcel or to any other part or parcel of the Project Property; and (2) that neither the Agency nor any other party shall thereafter have or be entitled to exercise with respect to any such completed Improvements or such individuals part or parcel so sold (or, in the case of lease, with respect to the leasehold interest) any rights or remedies or controls that it may otherwise have or be entitled to exercise with respect to the Project Property as a result of a default in or breach of any provisions of this Agreement by the Redeveloper or any successor in interest or assign. Each Certificate of Completion within such thirty (30) day timeframe, and if not, then City’s obligations provided for in this Section 3.13 shall be extended until in such time form as DTSC has issued its approval for such Certificate of Completion); provided that City finds that Developer has completed such portion of the Project pursuant to the terms of this Agreement and the Existing Development Approvals. The Certificate of Completion shall be executed and notarized so as to permit will enable it to be recorded in the Official Records. The “Certificate of Completion” shall be a certificate stating that it constitutes conclusive determination of satisfactory completion of the construction of the improvements required by this Agreement upon the applicable portion of the Developer Property proper office for the applicable portion recordation of the Project, deeds and of full compliance with the terms of this Agreement with respect thereto. City shall not unreasonably withhold, condition or delay the Certificate of Completion so long as such portion of the Project, and with respect other instruments pertaining to the first Certificate of Completion to be issued only, the Remainder Cells Remedial Systems, BPS, and Site Development Improvements, and Offsite Improvements, have been constructed and completed to City’s satisfaction. A Certificate of Completion shall not constitute evidence of compliance with or satisfaction of any obligation of Developer to any Lender or any insurer of a Mortgage securing money loaned to finance the improvements, or any part thereof. A Certificate of Completion is not notice of completion as referred to in the California Civil Code Section 8182. Nothing herein shall prevent or affect Developer’s right to obtain a Certificate of Occupancy from City before any Certificate of Completion is issued. Issuance of a Certificate of Occupancy other than for the shell and core shall not be a pre-condition to issuance of a Certificate of CompletionProject Property.