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§517 Certificates of Completion Promptly after completion of all construction to be completed by IAC for a Project Phase, IAC may notify the Agency that construction is complete and request issuance of the Certificate of Completion. The Agency shall issue the Certificate of Completion after City staff have indicated to the Executive Director that the Project Phase has been completed in conformance with the approved Vesting Tentative Map and all other applicable codes and standards of the City. It is acknowledged tha't all or some of the tenant improvements may not have been completed at the time the Certificate of Completion is requested; however, the Agency will require that the exterior design elements of the Project Phase (landscaping, building facades, and public area improvements) be completed as planned before issuing a Certificate of Completion. The Certificates of Completion shall be in the form of Attachment 10 hereto. Such Certificate of Completion shall be conclusive determination of satisfactory completion of the construction required by this Agreement upon the Project Phase and of full compliance with the terms of this Agreement with respect to the development of such Project Phase. After issuance of such Certificate of Completion, any party then owning or thereafter purchasing, leasing or otherwise acquiring any interest in any portion of the IAC Project Site covered by that Certificate of Completion shall not (because of such ownership, purchase, lease or acquisition) incur any obligation or liability under this Agreement, except that such party shall be bound by any covenants contained in the deed, lease, mortgage, deed of trust, contract or other instniment of transfer in accordance with the provisions of Article 6 of this Agreement. Except as otherwise provided in Section 604, after the issuance of a Certificate of Completion as to a Project Phase, neither the Agency, the City nor any other person shall have any rights, remedies or controls that � it would otherwise have or be entitled to exercise under this Agreement as a result of a Default in the performance of any provision of this Agreement, all of which shall terminate as to such Project Phase upon issuance of the Certificate of Completion for the Project Phase, and the respective rights and obligations of the parties with reference to the Project Phase shall be limited thereafter to those set forth in the Grant Deed or Grant Deeds relating thereto, which shall be in accordance with the provisions of Section 312 of this Agreement. The Agency shall not unreasonably withhold any Certificate of Completion. If the Agency refuses or fails to issue a Certificate of Completion after written request from IAC, the Agency shall, within ten(10) days of the next regularly scheduled Agency meeting after such written request, provide IAC with a written statement of the reasons the Agency refused or failed to issue the Certificate of Completion. The statement shall also contain the Agency's opinion of the action IAC must take to obtain the Certificate of Completion. If the reason for such refusal is confined to the immediate unavailability of specific items or materials for landscaping, signage, etc. the Agency shall issue its Certificate of Completion upon the posting of a bond by IAC with the Agency in an amount representing a fair value of the work not yet completed. If the Agency - shall have failed to provide such written statement within the ten�10) day period after such Agency meeting, IAC shall be deemed entitled to the Certificate of Completion. Article 6. COVENANTS; NONDISCRIMINATION §601 Covenants as to Uses IAC covenants and agrees that during construction and thereafter, IAC shall devote the IAC Project Site to the uses specified in the Redevelopment Plan, the Grant Deed or Grant Deeds 28 9627:83976.25