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{}302 Site Feasibility Assessment Prior to the Agency's appraiser's completion of the Appraisals to be used in the Agency's offers to owners pursuant to Government Code Section 7267.2 for acquisition of any portion of the Shea Project Site, Shea shall conduct at Shea's expense a "Phase I" hazardous materials assessment and such other studies and assessments, including, but not limited to, environmental studies and investigations, soils and geotechnical investigations, economic, cultural resources surveys, and investigations of the structural integrity of existing buildings, as Shea determines are necessary for the Acquisition Parcels (the "Site Feasibility Assessment") prior to the making of such offers. For this purpose, Agency agrees to promptly provide access to the Acquisition Parcels (the "Rights of Entry") as set forth in the Schedule of Performance in Attachment 8, attached hereto and incorporated herein by reference, consistent with Agency's acquisition of such rights of access under Section 1245.010 of the Code of Civil Procedure, and to assist Shea in obtaining from City rights of acce~ to public rights-of-way and publicly-owned parcels within and abutting the Franklin Street Project Site, if any, required for development of the Shea Project Site. {}303 Due Diligence A. Due Diligence Period. Shea shall have a due diligence period (the "Due Diligence Period"), commencing on the "Effective Date" to perform its investigation of the feasibility and desirability of acquiring the Shea Project Site, including, the Site Feasibility Assessments, as described in Section 302, above. The Due Diligence Period shall terminate one hundred and twenty (120) days from the date all Rights of Entry are obtained pursuant to Section 302 and all access to public rights-of way and publicly-owned parcels have been obtained by Shea, unless the parties, after meeting and conferring in accordance with Section 303(D), agree to an extension thereto. In no event shall Shea obtain equitable or legal title in the Acquisition Parcels until termination of the Due Diligence Period. B. Development of Due Diligence Budget. No later than thirty (30) days following the Effective Date, Agency and Shea shall develop, and at its option Shea may deposit with Agency funds in an amount equal to the due diligence budget for the payment of the costs of the Agency's activities listed below (the "Due Diligence Budget"). The funds so deposited shall be placed in an interest bearing account (the "Due Diligence Deposit"). In the event that the Due Diligence Budget exceeds Shea's projected due diligence costs, Shea may elect in writing to terminate this Agreement in accordance with Section 809 of this Agreement with respect to the Shea Project Site, or subject to Section 801, with Agency's prior written concurrence a portion thereof, or engage in a Meet and Confer session pursuant to Section 303(D) of this Agreement. If Shea funds the Due Diligence Budget and total Due Diligence Costs, as defined below, exceed the amount of the Due Diligence Budget, Agency shall notify Shea in writing of such insufficiency and Shea, within ten (10) days of receipt of such notice (the "Notification Date"), shall have the option to supplement the Due Diligence Deposit with additional funds necessary to cover such insufficiency ("Supplemental Due Diligence Costs"). As of the Notification Date, Agency shall not incur costs for a Due Diligence Budget line item that exceeds the amount allocated for such line item without the written consent of Shea. In the event that Shea chooses not to advance requested Supplemental 7 wc-21875