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7.C. - Page 143 of 178 <br />conditions for conveyance of leasehold <br />interest to YMCA Site have been <br />satisfied. <br />Execution of Ground Lease <br />Within 30 days after YMCA notification to City that all <br />conditions to execution of Ground Lease have been satisfied, <br />but in any event no later than July 1, 2024 <br />Commencement of construction of <br />Within 60 days after issuance of building permits for Phase 2 <br />Phase 2 Improvements <br />Improvements. <br />Completion of Phase 2 Improvements <br />Within 24 months after commencement of construction. <br />Within 45 business days after the issuance of a certificate of <br />Close of Escrow for City purchase of <br />Hudson Street Property <br />occupancy for the New YMCA. <br />See attached. <br />EXHIBIT E <br />82483.00016\32444940.5 <br />566 <br />