Laserfiche WebLink
<br />1. <br /> <br />Copies of all construction and/or <br />permanent financing commitments received <br />by the Developer; and <br /> <br />2. <br /> <br />Proof of acceptance of each such loan <br />commitment by the Developer, together <br />with proof of payment of all up-front <br />loan commitment fees, if any, and <br />satisfaction of any other conditions <br />precedent to the effectiveness of .the <br />commitments. <br /> <br />(3) The Executive Director of the Agency or his or <br />her assignees, including the Redevelopment Manager of the Agency, <br />shall approve or disapprove such documents and/or financing <br />commitments or sources in writing within fifteen (15) business days <br />of receipt by the Agency of the documents and information required <br />hereunder. I f the documents or commitments are not approved or <br />disapproved within said 15 days, the Developer may give written <br />notice, in accordance with Section 15 hereof, that approval will be <br />deemed to be given within seven (7) days after receipt of such <br />notice. If the Agency fails to disapprove such documents or <br />commitments in writing within the seven (7) day period, they will <br />be deemed to be approved. The notice given by the Developer must <br />specify the documents or commitments in question and must inform <br />the Agency that approval will be deemed to have been given within <br />seven (7) days if not sooner disapproved. <br /> <br />(4) The Agency agrees to use its best efforts to <br />seek approval during the fiscal year 2005/2006 budgetary process <br />for additional funding of the Project, as needed to provide funding <br />of the Agency Assistance. <br /> <br />(5) The Agency agrees to provide reasonable <br />assistance to the Developer in connection with obtaining the <br />Developer's construction and permanent financing, by way of <br />providing information and documents as reasonably requested by said <br />lenders. <br /> <br />(6) The Developer shall have received all approvals <br />required hereby, including those approvals required by Section 2.12 <br />hereof, and shall have received final approval of (i) any changes <br />in the General Plan or zoning, (ii) variances, (iii) special use <br />permits, (iv) site plan approvals, (v) environmental approvals, or <br />(vi) other approvals under applicable law as are required for <br />Developer's intended use of the Property as described in the Scope <br />of Development. <br /> <br />6 <br /> <br />REDW\0006\DOC\001-5 <br />1/27/05 7:00 /mvc <br />