RecD04 2004-231515 - Laserfiche WebLink

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d. Leases of space in the Retail Cinema must contain certain provisions relating to maintenance of the tenant's premises, cooperation with the City in connection with parking and traffic management for downtown Redwood City and use permit conditions. e. The City and Agency have certain design approval rights with regard to the Retail Cinema. f. Except as specifically provided in the DDA, the cost of developing and constructing the Project shall be the sole responsibility of the Developer. g. The development of the Project by the Developer is subject to a Schedule of Performance which sets forth certain required performance dates. h. The Developer is required to provide evidence of certain insurance policies. i. During the construction of the Project, the Developer must refrain from discrimination against any employee or applicant for employment because of race, color, creed, religion, age, sex, sexual preference, marital status, handicap, national origin or ancestry. j. The DDA contains provisions requiring payment by the Developer of real property taxes and assessments, including, if applicable, possessory use taxes. k. Mortgages, deeds of trust and sales and leases-back are only permitted against Parcel A on certain conditions. The Developer is not permitted to enter into a conveyance for financing without the prior written approval of the Agency. 1. Holders of mortgages or deeds of trust are not required to construct or complete the improvements on Parcel A contemplated by the DDA, but may not utilize Parcel A for any use other than those permitted in the DDA. Any holder of a mortgage or security interest in Parcel A is entitled to certain notice from the Agency in the event that the Agency gives notice of a Default to the Developer in connection with the completion of construction of the improvements. Lenders are provided with certain rights, under specified circumstances, and are subject to certain requirements. m. The Agency has the right, but not the obligation, to cure defaults in mortgages and deeds of trust. n. The DDA provides for the issuance of a Certificate of Completion by the Agency when the obligations of the Developer for construction of the Project have been satisfied, which may be recorded. The recordation of the Certificate of Completion, duly executed and acknowledged by the Agency, is a conclusive determination of satisfactory completion of the construction required by the DDA, and any party then owning or thereafter acquiring any interest in Parcel A shall not incur any liability under the DDA, except that such party shall be bound by any covenants contained in the deed, lease, mortgage, deed of trust, contract or other instrument of transfer whereby title to 3 REDW\0002\DOC\009-3 6\30\04 1000 law