Res17 15621 - Laserfiche WebLink

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(e) Execution, Delivery and Recordation of Documents. Developer shall have executed, acknowledged as applicable, and delivered to City this Agreement, and all other documents required in connection with the transactions contemplated hereby, including without limitation the Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants substantially in the form attached hereto as Exhibit D (the "Regulatory Agreement"), a Memorandum of Option and DDA substantially in the form attached hereto as Exhibit C (the "Memorandum") and a counter-signed original of the Grant Deed. Concurrently with the Closing, the Grant Deed, the Quit Claim if applicable, the Memorandum, and the Regulatory Agreement shall be recorded in the Official Records. (f) [Reserved.] (g) Financing Plan. City shall have approved the Financing Plan (which approval shall not be unreasonably withheld), including without limitation, the construction and operating budgets for the Project. (h) Approval of Financing Documents; Evidence of Availability of Funds. City shall have approved any amendment to, or amendment and restatement of, Developer's Partnership Agreement, and shall have approved the loan and grant documents for all financing sources for the Project. All other sources of construction financing for the Project shall have closed or shall close concurrently with the closing for conveyance of the Property, and Developer shall have provided evidence reasonably satisfactory to City that (i) all conditions to the release and expenditure of the initial draw of funds from each source described in the approved Financing Plan as a source of construction financing for the Project have been met and that such funds will be available, and (ii) all construction financing (including draws subsequent to the initial draw of funds) will be available upon the satisfaction of the conditions set forth in the applicable documents. (1) Construction Contract, Plans, Budget and Schedule. City shall have approved the general contractor, the construction budget and schedule, and the construction contract for the Project (which shall not be reasonably withheld), provided that review of the construction contract shall be limited to determining whether it is with the approved general contractor for a guaranteed maximum price that conforms to the approved construction budget and schedule and otherwise conforms to the construction requirements of this Agreement and the Creekside Trail Improvement Agreement, and City shall have approved the final Construction Plans and specifications for the Project. Developer shall have delivered an executed copy of the construction contract for the Project to the City. If City has not provided written objections to Developer regarding the general contractor, the construction budget and schedule, or the construction contract for the Project within fifteen (15) business days following their submittal to the City, such items shall be deemed to have been approved. (j) Permits. Developer shall have delivered evidence satisfactory to City that Developer has obtained all permits (including without limitation building permits) required to construct the Project, or that the receipt of such permits is subject only to such conditions as City shall reasonably approve. (k) Insurance; Payment and Performance Bonds. Developer shall have provided evidence satisfactory to City that Developer has obtained insurance coverage meeting the ATY/AGR/2017.218/RWC — BRADFORD — DDA REV: 09-18-17 VR Page 12 of 94