Reso13 PC 13-14 2879 Planning Commission Recommending Approval of DDA for 950 Middlefield Road

Browse Search

City Draft 6128113 operation and use. The parties anticipate and expect tha�the parking garage improvements shall be completed prior to the office/retail building and that therefore a partial Certificate of Completion may be issued Far the parking garage prior to the issuance af a Certificate of Completion far the entire Project in order that the garage may be used. Following t�e City's receipt of such a written request from the Developer, the City shall promptly inspect the parking garage or Project, as the case may be, to determine whether or not the parking garage or Project, as applicable, has been Completed in compliance with this Agreement. If the City determines that the parking garage or Project, as the case may be, is Complete (excluding any such outstanding"punch-list"items} and in compliance with this Agreement, the City shall issue a partial Certificate of Completion with respect to the parking garage or a Certificate of Completion for the Project, as app�icable, to the Developer. If the Developer has obtained a partial Certi�cate of Completion with respect to the parking garage and then later requests that the City issue a Certificate of Completion with respect to the entire Project, �he City shall not be permitted to reconsider whether�e parking garage is Complete. Yf the City determines that the parking garage or the Project, as the case may be, is not complete or not in campliance with this Agreexnent, the City shall send written Notice of each non- conformity to the Developer, within �fteen (15) calendar days follawing the City's receipt of the Developer's written request for a Certificate of Completion (or partial Certificate of Completion) oz within three (3) calendar days after the next reg�lar meeting of the City governing body, whichever date occurs Iater, provide the Develope�r with a written statement setting forth the reasons for the City's failure or refusal to issue a Certificate of Comple�tion (or partial Certif cate of Completion). The statement shall also cantain the City's opinion of the action(s) the Developer must take to obtain a Certificate of Completion (or partial Certificate of Completion) from the City. If the reason for the Developer's failure to complete the Project is confined to the immediate unavailability of specific items or materials for construction or landscaping at a price reasonably acceptable to the Developer or otner minor builaing "punch-list" items, at Developer's request, the City shall issue a Certificate of Cornpletion upon the posting by the Developer of a (i} bond, (ii) irrevocable standby letter of credit by the Developer, or (iii) corporation guaranty by Kilroy Realty L.P., in form and substance reasonably acceptable to the City, in an amou.nt representing the fair value of the wark on the Project remaining to be completed, as reasonably deternzined by the City. If the City fails to provide such written statement, within the specified time period, the Developer shaJl be deemed, conclusively and without fi�rther action of the City, to have satisfied the requirements of this Agreement with respect to the construction and installation of the Project, as if a Certificate of Campletion had been issued by the City pursuant to this Agreement, and the same sha11 irrevocably be deemed to have been issued as af such date for alI purposes of this Agreezn.ent. In such ar� event, at Developer's written request, City shall execute a Certificate of Completion in the forrn attached hereto as Exhibit G which sha11 state that Developer has satisfied thE requirements of this Agreernent with respect to the construc�ion and installation of the Project. 4.�3.2 Effect. A Certificate of Completion sha11 constitute evidence of the City's conclusive determination of satisfactory Completion of the construction and i.nstallation of the parking garage ar the Praject, as the case may be, in accordance with the terms of this Agreement. A Certi�icate of Completion shall not constitute a Notice of Completion under Section 8182 or 9204 of the California Civil Code, nor shall it act to terminate the continuing reservations, covenants, restrictions or canditions contained in the City Deed or any other 82483.00 00 9175 7 1 3 1 2.10 37