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City Draft <br /> 6/28113 <br /> 3. DEPOSIT. E DEVELOPER SHALL DELIVER THE DEPOSIT TO THE <br /> CITY. ................................................................................................................................. 1 <br /> 4. OPENIlVG OF ESCROW. THE CITY SHALL OPEN AN ESCR�W FOR <br /> CONVEYANCE OF THE CITY PROPERT'Y TO THE DEVELOPER.......................... � <br /> 5. ESCROW DEPOSIT. THE DEVELOPER SHALL DEPOSIT THE ESCROW <br /> DEF�STI'WITH THE ESCROW AGENT....................................................................... 1 <br /> 6. ZONING OF THE SITE. THE CITY SHALL USE 1TS BEST EFFORTS TO <br /> CAUSE THE ZONING OF THE SITE TO BE SUCH AS TO PERMIT THE <br /> DEVELOPMENT AND CONSTRUCTION OF IMPROVEMENTS IN <br /> ACCORDANCE WITH THIS AGREEMENT AND THE USE, OPERATION <br /> AND MAINTENANCE OF SUCH IMPROVEMENTS. .................................................2 <br /> 7. SUBMISSION—EVIDENCE OF EQUTTY CAPITAL AND MORTGAGE <br /> FINANCING. THE DEVELOPER SHALL SUBMIT TO THE CITY FOR <br /> REVIEW AND APPROVAL EVIDENCE OF EQUITY CAPITAL AND <br /> MORTGAGE FINANCING NECESSARY FOR ACQUISITION AND <br /> DEVEL4PMENT OF THE SI'I'E......................................................................................2 <br /> 8. APPROVAL—EVIDENCE OF EQiTITY CAPITAL AND MORTGAGE <br /> FINANCING. THE CITY SHALL APPROVE OR DISAPPROVE THE <br /> DEVELOPER'S EVIDENCE OF EQUITY CAPITAL AND M4RTGAGE <br /> FINANCING..............................................................................�........................................2 <br /> 9. DELIVERY OF DUE DILIGENCE NOTICE. DEVELOPER SHALL <br /> DELIVERY ITS DUE DILIGENCE COMPLETION NOTICE TO CITY AND <br /> ESCROWAGENCY.........................................................................................................2 <br /> 10. DEF4SIT QF PURCHASE PRICE AND OTHER REQUIRED SUMS. THE <br /> DEVELOPER SHALL DEPOSIT THE PURCHASE PRICE AND 4THER <br /> REQUIRED SIIMS 1NT0 ESCROW...............................................................................2 <br /> I l , RECORDATION OF FINAL PARCE3L MAP FOR C�TY PROPERTY. THE <br /> CITY SHALL REC4RD A FINAL PARCEL MAP FOR THE CITY <br /> PROPEIZTY IN SUBSTANTIAL AND MATERIAL CON�ORMANCE WITH <br /> THE METES AND BQUNDS DESCRIPTION SET FORTH IN EXHTBIT A TO <br /> THISAGREEMENT.........................................................................................................2 <br /> 12. DEPOSIT OF GRANT DEED. THE CITY SHALL DEPOSIT THE GRANT <br /> DEED FOR THE CI'TY PROPERTY INTO ESCROW. ..................................................2 <br /> 13. SUBMISSION—CONSTRUCTION DOCUMENT PACKAGE TO CITY. THE <br /> DEVELOPER SHALL PREPARE AND SUBMIT TO THE CITY FOR <br /> REVIEW AND APPROVAL A COMPLETE CONSTRUCTION DOCUMENT <br /> PACKAGE......................................................................................................................... 3 <br /> 14. APPROVAL OF CONSTRUCTIQN DOCUMENTS. CITY SHALL APPROVE <br /> 4R DISAPPROVE DEVELOPER'S CONSTRUCTION DOCUMENTS....................... 3 <br /> 82483.OU00917571312.10 xvii <br />