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JAH:djm 03/06/90R (REDEV) JAH:djm 03/19/90R JAH:djm 04/04/90R for decision. In so electing to refer an issue to the Board of Directors, the Executive Director shall use his reasonable judgement, bearing in mind the arguments of the Developer and its staff, architects and design professionals. If any revisions or corrections of plans approved by the Agency shall be required by any other governmental agency or authority involved in financing or having jurisdiction, the Developer and the Agency staff shall cooperate in efforts to comply with such requirements, or to develop a mutually acceptable alternative, as may be appropriate. If no such waiver is obtained and no such alternative is developed, the Agency shall be bound by such revisions or corrections if they are not inconsistent with the approved Basic Concept Drawings and related documents and approved plans. §504 Cost of Construction The cost of developing the Project Site and constructing all improvements thereon shall be borne by the Developer, except for work expressly set forth in this Agreement to be performed or paid for by the Agency or others. §505 Construction Schedule After the conveyance of title, the Developer shall promptly begin and thereafter complete the construction of the improvements and the development of the Project Site in accordance with the Schedule of Performance. The Developer shall begin and complete all construction and development within the times specified in the Schedule of Performance or such reasonable extension of said times as may be granted by the Agency in accordance with this Agreement. The Schedule of Performance is subject to revision from time -to -time as mutually agreed upon in writing between the Developer and the Agency. During the period of construction, but not more frequently than once a month, the Developer shall submit to the Agency a written progress report of the construction when and as requested by the Agency. Such requirement shall be deemed satisfied upon submittal by the Developer of a copy of its report to the construction lender. §506 Insurance and Indemnification Prior to the commencement of construction on the Project Site or any portion thereof, the Developer shall furnish or cause to be furnished to the Agency duplicate originals of bodily injury and property damage insurance in the amount of FIVE MILLION DOLLARS ($5,000,000.00) combined single limit policy naming the Agency, the City and their respective officers, members, agents and employees as co -insureds, which coverage shall be primary insurance and not contributing with any other insurance maintained by the Developer. Such policy shall include 20