Redeveloper Contributions Sample Clauses

Redeveloper Contributions. (1) As a material inducement to the decision by the City to enter into this Agreement and to confer upon the Redeveloper the rights granted by this Agreement in respect of the Redevelopment Project, in the event Redeveloper constructs the Project, the Redeveloper shall construct (or cause to be constructed) the Infrastructure Improvements, as a component of the Project, solely at its own cost and expense (but including funds made available by the City from the proceeds of the Redevelopment Area Bonds). (2) Before commencing work on any of the above-referenced components of the Infrastructure Improvements (each, a “Component”), to the extent not already submitted to the City building official as part of Redeveloper’s building permit plan set submissions, the Redeveloper shall submit to the Director for approval (i) a proposed project budget and (ii) proposed plans and specification. In the case of physical improvements, the plans and specifications shall include a conceptual rendering of the improvements that the Redeveloper intends to make. The Director will review the proposed budget and plans and specifications submitted by the Redeveloper, and shall either accept them or require them to be revised in accordance with the Director’s comments; provided, that the scope of any Component shall not be expanded, nor shall its cost be increased, beyond the description and estimated cost set forth above for each such Component. (3) Upon completion of each Component of the Infrastructure Improvements, the Redeveloper shall notify the Director, and the Director shall assess whether such Component has been provided in accordance with the approved project budget and plans and specifications. A Certificate of Completion for the Redevelopment Project shall not be issued unless the Director has first determined that each and every Component of the Infrastructure Improvements has been completed in accordance with this paragraph. (4) The Redeveloper acknowledges that the City has not made any statements, claims or guaranties as to the condition of any of the properties upon which the Infrastructure Improvements are to be undertaken by the Redeveloper, and that the City does not assume any responsibility or liability on account of such physical condition. The Redeveloper hereby releases the City from any and all responsibility, liability and claims for or arising out of the presence on or about such properties (including in the soil, air, structures and surface and subsurf...