Common use of Commencement and Completion of Construction Clause in Contracts

Commencement and Completion of Construction. Subject to the terms and conditions of this Agreement and to Unavoidable Delays, the Developer will commence construction of the Project within 30 days following the Developer’s closing on the purchase of the Development Property and be substantially completed by December 31, 2019. The Project will be constructed by the Developer on the Development Property in conformity with this Agreement and the Construction Plans approved by the City. No changes shall be made to the Construction Plans for the Project without the City’s prior written approval, unless the aggregate of such changes do not increase or decrease the Total Development Costs by more than 10%. No changes which materially alter (a) the Project’s site plan, (b) exterior appearance, (c) quality, (d) exterior materials, or (e) the purposes of the Project as a wedding and event center and provider of recreational activities shall be made without the City’s prior written consent. The approval of the City will not be unreasonably withheld, unreasonably conditioned or unreasonably delayed. Prior to completion, upon the request of the City, and subject to applicable safety rules, the Developer will provide the City reasonable access to the Development Property. “Reasonable access” means at least one site inspection per week during regular business hours. During construction, marketing and rentals of the Project, the Developer will deliver progress reports to the City from time to time as mutually agreed upon by the City and the Developer.

Commencement and Completion of Construction. Subject to the terms and conditions of this Agreement and to Unavoidable Delays, the Developer will commence construction of the Project within 30 days following by , 2018 and shall substantially complete the Developer’s closing on Project by , 2018. Notwithstanding the purchase foregoing, failure of the Development Property and Developer to substantially complete the Project shall not be an Event of Default unless the Project is not substantially completed by December 31, 20192018. The Project will be constructed by the Developer on the Development Property in conformity with this Agreement Agreement, the Design Drawings, the preliminary site plan submitted by the Developer, and the Construction Plans approved by the CityEDA. No changes shall be made to the Construction Plans for the Project without the CityEDA’s prior written approval, unless the aggregate of such changes do not increase or decrease the Total Development Costs by more than 10%. No changes which materially alter alter (a) the Project’s site plan, (b) exterior appearance, (c) quality, (d) exterior materials, or (e) number of parking spaces included in the purposes of the Project as a wedding Design Drawings and event center and provider of recreational activities Construction Plans shall be made without the CityEDA’s prior written consent. The approval of the City EDA will not be unreasonably withheld, unreasonably conditioned or unreasonably delayed. Prior to completion, upon the request of the CityEDA, and subject to applicable safety rules, the Developer will provide the City EDA reasonable access to the Development Property. “Reasonable access” means at least one site inspection per week during regular business hours. During construction, marketing and rentals of the Project, the Developer will deliver progress reports to the City EDA from time to time as mutually agreed upon by the City EDA and the Developer.

Commencement and Completion of Construction. Subject to the terms and conditions of this Agreement and to Unavoidable Delays, the Developer will commence construction of the Project within 30 days following by , 2017 and shall substantially complete the Developer’s closing on the purchase of the Development Property and be substantially completed Project by December 31, 20192017. Notwithstanding the foregoing, failure of the Developer to substantially complete the Project shall not be an Event of Default unless the Project is not substantially completed by June 30, 2018. The Project will be constructed by the Developer on the Development Property in conformity with this Agreement and the Construction Plans approved by the EDA and the City. No changes shall be made to the Construction Plans for the Project without the EDA’s and the City’s prior written approval, unless the aggregate of such changes do not increase or decrease the Total Development Costs by more than 10%. No changes which materially alter (a) the Project’s site plan, (b) exterior appearance, (c) quality, (d) exterior materials, or (e) number of parking spaces included in the purposes of the Project as a wedding Design Drawings and event center and provider of recreational activities Construction Plans shall be made without the EDA’s and the City’s prior written consent. The approval of the EDA and the City will not be unreasonably withheld, unreasonably conditioned or unreasonably delayed. Prior to completion, upon the request of the EDA or the City, and subject to applicable safety rules, the Developer will provide the EDA or the City reasonable access to the Development Property. “Reasonable access” means at least one site inspection per week during regular business hours. During construction, marketing and rentals of the Project, the Developer will deliver progress reports to the EDA and the City from time to time as mutually agreed upon by the EDA, the City and the Developer.

Commencement and Completion of Construction. Subject to the terms and conditions of this Agreement and to Unavoidable Delays, the Developer will commence construction of the Project within 30 days following by November 30, 2016 and shall substantially complete the Developer’s closing on the purchase of the Development Property and be substantially completed Project by December 31, 20192017. Notwithstanding the foregoing, failure of the Developer to substantially complete the Project shall not be an Event of Default unless the Project is not substantially completed by June 1, 2018. The Project will be constructed by the Developer on the Development Property in conformity with this Agreement, the PUD, the Development Agreement and the Construction Plans approved by the City. No changes shall be made to the Construction Plans for the Project without the City’s prior written approval, unless the aggregate of such changes do not increase or decrease the Total Development Costs by more than 10%% or materially alter the Plans. No changes which materially alter (a) the Project’s site planSite Plan, (b) exterior appearance, (c) quality, (d) exterior materials, or (e) number of units or (f) number of parking spaces included in the purposes of the Project as a wedding Design Drawings and event center and provider of recreational activities Construction Plans shall be made without the City’s prior written consent. The approval of the City will not be unreasonably withheld, unreasonably conditioned or unreasonably delayed. Prior to completion, upon Upon the request of the City, and subject to applicable safety rules, the Developer will provide the City reasonable access to the Development Property. “Reasonable access” means at least one site inspection per week during regular business hours. During construction, marketing and rentals of the Project, the Developer will deliver progress reports to the City from time to time as mutually agreed upon by the City and the Developer.