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Approval - Final Construction Draw- ings and specifications and Finish G~adin~ Plan. Agency shall approve or disapprove the Final Construction Drawings and Specifications and Finish Grading Plan for the Phase II ~nprovements to be developed on all ~ Parcels. ~bmission - Evidence of Equity .pital and Mortgage Financing. Redeveloper shall submit to the · .,Agency satisfactory evidence that Redeveloper has the necessary equity capital and mortgage financing com- mitments for.the construction of the improvements for the First Sub Parcel.' Openin~ of Escrow. Agency shall open escrow for conveyance of the First Sub Parcel. ......Deposit of the Deed in Escrow. Agency shall deposit the deed to the Sub Parcel in escrow. Conveyance of Title. Agency shall convey, title to Redeveloper and Redeveloper shall accept conveyance of the First Sub Parcel. Commencement of Construction. ,Redeveloper shall commence construction of the Phase II improvements'on the First Sub Parcel. Completion of Construction. F~developer shall complete ~struction of the Phase II )rovements on the First Sub ! :cel. Within 30 days after raoeipt by the Agency. Within 30 days after final approval of Final Construction Drawings and Specifications and Finish Grading Plan for the Phase II improvements to be developed on all'Sub Parcels. At the Agency's option or within 5 days after receipt of written request from Redeveloper. Not later than 5 days prior to the date for conveyance~ Within 30 days after Agency. notifies Redeveloper that Agency has acquired title to the First Sub Parcel, all occupants have been relocated and the Agency'is prepared to deliver title and possession to Redeveloper but. in any event not later than two years after the date of execu- tion of this Agreement by the Agency. Within 30 days after conveyance of title to such Sub Parcel. Within 360 days after commencement of construction. -9- MAR 8 977