OBLIGATION TO CONSTRUCT IMPROVEMENTS. Developer hereby agrees to develop and construct the Project in accordance with the requirements contained in the Declaration. The Improvements shall be constructed in compliance with all Permits and Applicable Laws and in a first-class and diligent manner in accordance with industry standards. The cost of developing the Project shall be borne solely by Developer. As further assurance of the above and of the covenants contained in the Declaration, Developer shall cause the Development and Completion Guaranty to be executed by Guarantor on or before Closing. Within fifteen (15) Business Days after the Effective Date hereof, Guarantor shall each submit to District updated, unaudited financial statements (certified by such Guarantor as being true, correct, and complete) and unaudited balance sheets, profit and loss statements, cash flow statements, other financial reports, and other financial information of such Guarantor as District may reasonably request.
Appears in 14 contracts
Samples: Property Disposition Agreement, Property Disposition Agreement, Property Disposition Agreement
