Common use of Payment for Construction of Public Improvements and Additional Public Improvements Clause in Contracts

Payment for Construction of Public Improvements and Additional Public Improvements. Subject to the requirements and contingencies set forth in this Agreement, Owner shall construct and equip the Public Improvements and any Additional Public Improvements in accordance with mutually agreed upon plans and specifications and in accordance with the Project Schedule. Owner shall initially construct and equip the Public Improvements and any Additional Public Improvements (except for any Additional Public Improvements that the City agrees to construct itself in accordance with Section 2(h) of this Agreement) at its own cost and expense, and the City shall reimburse Owner for the agreed-upon cost of designing, constructing and equipping the Public Improvements and any Additional Public Improvements in the manner set forth in this Agreement, subject only to the conditions stated below; provided however, that the City may partially reimburse Owner for such costs sooner at its discretion. The City acknowledges that the Owner will construct the Public Improvements and any Additional Public Improvements in reliance upon the City’s agreement to reimburse Owner for the cost of designing, constructing and equipping the Public Improvements and any Additional Public Improvements in the manner described in this Agreement. The City shall cooperate in good faith and take such steps as may be reasonably necessary and appropriate to facilitate Owner’s receipt of a final Unified Certificate of Occupancy for the Project prior to June 15, 2021, provided that Owner shall substantially complete the Project no later than February 28, 2021 in order to provide the City with sufficient time to inspect the work and issue a final Unified Certificate of Occupancy and sufficient time to prepare the municipal bond for issuance no later than June 30, 2021. The City’s obligation to reimburse Owner for the cost of designing, constructing and equipping the Public Improvements and Additional Public Improvements shall be subject only to the following conditions and otherwise shall be unconditional and fully binding on the City:

Payment for Construction of Public Improvements and Additional Public Improvements. Subject to the requirements and contingencies set forth in this Agreement, Owner shall construct and equip the Public Improvements and any Additional Public Improvements in accordance with mutually agreed upon plans and specifications and in accordance with the Project Schedule. Owner shall initially construct and equip the Public Improvements and any Additional Public Improvements (except for any Additional Public Improvements that the City agrees to construct itself in accordance with Section 2(h) of this Agreement) at its own cost and expense, and the City shall reimburse Owner for the agreed-upon cost of designing, constructing and equipping the Public Improvements and any Additional Public Improvements in the manner set forth in this Agreement, subject only to the conditions stated below; provided however, that the City may partially reimburse Owner for such costs sooner at its discretion. The City acknowledges that the Owner will construct the Public Improvements and any Additional Public Improvements in reliance upon the City’s agreement to reimburse Owner for the cost of designing, constructing and equipping the Public Improvements and any Additional Public Improvements in the manner described in this Agreement. The City shall cooperate in good faith and take such steps as may be reasonably necessary and appropriate to facilitate Owner’s receipt of a final Unified Certificate of Occupancy for the Project prior to June 15, 2021, provided that Owner shall substantially complete the Project no later than February 28, 2021 in order to provide the City with sufficient time to inspect the work and issue a final Unified Certificate of Occupancy and sufficient time to prepare the municipal bond for issuance no later than June 30, 2021. The City’s obligation to reimburse Owner for the cost of designing, constructing and equipping the Public Improvements and Additional Public Improvements shall be subject only to the following conditions and otherwise shall be unconditional and fully binding on the City:Deleted: Draft 10/2/17

Payment for Construction of Public Improvements and Additional Public Improvements. Subject to the requirements and contingencies set forth in this Agreement, Owner shall construct and equip the Public Improvements and any Additional Public Improvements in accordance with mutually agreed upon plans and specifications and in accordance with the Project Schedule. Owner shall initially construct and equip the Public Improvements and any Additional Public Improvements (except for any Additional Public Improvements that the City agrees to construct itself in accordance with Section 2(h) of this Agreement) at its own cost and expense, and the City shall reimburse Owner for the agreed-upon cost of designing, constructing and equipping the Public Improvements and any Additional Public Improvements in the manner set forth in this Agreement, subject only to the conditions stated below; provided however, that the City may partially reimburse Owner for such costs sooner at its discretion. The City acknowledges that the Owner will construct the Public Improvements and any Additional Public Improvements in reliance upon the City’s agreement to reimburse Owner for the cost of designing, constructing and equipping the Public Improvements and any Additional Public Improvements in the manner described in this Agreement. The City shall cooperate in good faith and take such steps as may be reasonably necessary and appropriate to facilitate Owner’s receipt of a final Unified Certificate of Occupancy for the Project prior to June 15, 2021, provided that Owner shall substantially complete the Project no later than February 28, 2021 in order to provide the City with sufficient time to inspect the work and issue a final Unified Certificate of Occupancy and sufficient time to prepare Deleted: Draft 10/2/17 FINAL VERSION the municipal bond for issuance no later than June 30, 2021. The City’s obligation to reimburse Owner for the cost of designing, constructing and equipping the Public Improvements and Additional Public Improvements shall be subject only to the following conditions and otherwise shall be unconditional and fully binding on the City: