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8.A. - Page 63
<br /> Completion upon the posting by the Developer of (i) a bond, or (ii) an irrevocable standby letter
<br /> of credit by the Developer, in form and substance reasonably acceptable to the City, in an
<br /> amount representing the fair value of the work on the Project remaining to be completed, as
<br /> reasonably determined by the City. If the City fails to provide such written statement, within the
<br /> specified time period, the Developer shall be deemed, conclusively and without further action of
<br /> the City, to have satisfied the requirements of this Agreement with respect to the construction
<br /> and installation of the Project, as if a Certificate of Completion had been issued by the City
<br /> pursuant to this Agreement, and the same shall irrevocably be deemed to have been issued as of
<br /> such date for all purposes of this Agreement. In such an event, at Developer's written request,
<br /> City shall execute a Certificate of Completion in the form attached hereto as Exhibit G which
<br /> shall state that Developer has satisfied the requirements of this Agreement with respect to the
<br /> construction and installation of the Project.
<br /> (b) Effect. A Certificate of Completion shall constitute evidence of the City's
<br /> conclusive determination of satisfactory Completion of the construction and installation of the
<br /> Hamilton Garage or the Project, as the case may be, in accordance with the terms of this
<br /> Agreement. A Certificate of Completion shall not constitute a Notice of Completion under
<br /> Section 8182 or 9204 of the California Civil Code, nor shall it act to terminate the continuing
<br /> reservations, covenants, restrictions or conditions contained in the Easement and Parking
<br /> Agreement or any other instruments recorded against the Site or set forth in this Agreement,
<br /> except to the extent that this Agreement provides that it or any portion of it is terminated upon
<br /> the issuance of a Certificate of Completion. A Certificate of Completion also shall not constitute
<br /> a certificate of occupancy issued by the City pursuant to normal City procedures. Except as
<br /> otherwise provided herein, after the issuance of a Certificate of Completion, neither the City nor
<br /> any other person shall have any rights, remedies or controls with respect to the Site that it would
<br /> otherwise have or be entitled to exercise under this Agreement as a result of a default in or
<br /> breach of any provision of this Agreement. After the recordation of a Certificate of Completion
<br /> for the Hamilton Garage or the Project, as the case may be, any entity then owning or thereafter
<br /> purchasing, leasing or otherwise acquiring any interest in the Site or the Project shall not
<br /> (because of such ownership, purchase, lease or acquisition) incur any obligation or liability under
<br /> this Agreement as to the portion of the Project as to which a Certificate of Completion has been
<br /> issued, but such entity shall be bound by any reservations, covenants, conditions, obligations,
<br /> restrictions and other interests affecting the Site as set forth in the Easement and Parking
<br /> Agreement. Such Certificate of Completion shall not constitute evidence of compliance with or
<br /> satisfaction of any obligations of Developer to any holder of a Mortgage or any insurer of a
<br /> Mortgage securing money loaned to finance the Project or any portion thereof.
<br /> 4.7 Obligation to Refrain from Discrimination. The Developer covenants and agrees
<br /> for itself, its successors, its assigns and every successor -in- interest to all or any portion of the
<br /> Site, that there shall be no discrimination against or segregation of any person, or group of
<br /> persons, on account of any basis listed in subdivision (a) or (d) of Section 12955 of the
<br /> Government Code, as those bases are defined in Sections 12926, 12926.1, subdivision (m) and
<br /> paragraph (1) of subdivision (p) of Section 12955, and Section 12955.2 of the Government Code
<br /> in the sale, lease, sublease, transfer, use, occupancy, tenure or enjoyment of the Site nor shall the
<br /> Developer, itself or any person claiming under or through it, establish or permit any such
<br /> practice or practices of discrimination or segregation with reference to the selection, location,
<br /> 82483.00019\9644366.13
<br /> ATTY /AGR /2015.146 /HAMILTON - WINSLOW DDA
<br /> REV: 07 -22 -15 VR
<br /> Page 22 of 102
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