Agmt01 Western Innisfree Ventures LLC

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Agency shall be entitled to reimbursement from Developer of all reasonable costs and expenses incurred by the Agency in curing such default. The Agency also shall be entitled to a lien upon the Project Site to the extent of such costs and disbursements. Any such lien shall be subject to mortgages or deeds of trust executed for the purpose of obtaining funds for development of the Project Site as authorized in Article 9. §516 Right of the Agene.v to Satisfy Other Liens on the Agency and Acquisition Parcels After Title Passes After conveyance of title and prior to the issuance of a Certificate of Completion and after Developer has had a reasonable time to challenge, cure or satisfy any liens or encumbrances on the Agency or Acquisition Parcels, the Agency, after giving written notice to Developer, shall have the right to satisfy any such liens or encumbrances; provided, however, that nothing in this Agreement shall require Developer to pay or make provision for the payment of any tax, assessment, lien or charge, so long as Developer in good faith shall contest the validity or amount thereof, and so long as such delay in payment shall not subject the Agency or Acquisition Parcels or any of them to forfeiture or sale. §517 Certificate of Completion Promptly after completion of all construction to be completed by Developer for the Project, Developer 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 has been completed in conformance with the approved Tentative Map/Parcel Map and all other applicable codes and standards of the City. It is acknowledged that 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 (landscaping, building facades, and public area improvements) be completed as planned before issuing a Certificate of Completion. The Certificate of Completion shall be in the form of Attachment 6 hereto. The Agency shall not unreasonably withhold, condition or delay issuance of such certificate. Such Certificate of Completion shall be conclusive determination of satisfactory completion of the construction required by this Agreement upon the Project Site and of full compliance with the terms of this Agreement with respect to the development of such Project. 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 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 instrument 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, neither the Agency, the City nor any other person shall have any fights, 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 upon issuance of the Certificate of Completion, and the respective rights and obligations of the parties with 28 DOCSSF1:648942.4 9975-5 C14 120502