AgdaPkt 2003-12-15 - Laserfiche WebLink

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F ( P .C- 17 City and the Agency from time to time within thirty (30) days of receipt by the City and Agency of appropriate documentation demonstrating the completion of an item of work covered by the Scope of Development and after the inspection of said work by an authorized agent of the City and the Agency to verify its completion; provided, however, that all requests for disbursement, together with supporting documentation as necessary, shall be submitted prior to the 15` day of the given month. Any submittals received after the 15` day of the given month will be processed in the following month. Section 5. Construction of the Project. The Participating Owner shall undertake, or cause to be undertaken, the construction and installation of the improvements comprising the Project. The Participating Owner shall be responsible for the payment of any and all fees and assessments that may be levied against the Project or the Property or which may be required in connection with the construction of the improvements which comprise the Project. Except as specifically provided in this Agreement, the City and the Agency will have no obligation to assist in the construction of the Project. The Participating Owner shall use its best efforts to commence construction of such improvements within thirty days of the date of approval of this Agreement by the legislative body of 'the Agency, and must complete such construction, and obtain a Certificate of Occupancy for the Property and each unit thereof, and a Certificate of Completion under this Agreement, not later than (subject to any extensions by mutual written consent of the parties hereto). Section 6. Recordation of Covenants. The Participating Owner shall impose on the Property and the Project the Affordability Covenants in the form attached hereto as Exhibit "E" and the Redevelopment Covenants in the form attached hereto as Exhibit "G ". Section 7. Participating Owner's Responsibilities. a. A substantial portion of the consideration which supports the agreement of the City and the Agency to assist in the redevelopment of the Property is the agreement of the Participating Owner to complete the Project as set forth in the Scope of Development, including the construction of the improvements, and to cause the commencement of operations within the specified period. b. However, the foregoing responsibility of the Participating Owner shall be subject to the following limitations: I