75C - 2001 W. MACARTHUR BLVD - Laserfiche WebLink

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5.8. Work of Public Art. In consideration for the benefits set forth in this Agreement, Owner shall include within the Project a work òf Public Art (the "Public Art"). The Public Art shall be designed, installed, and located in compliance with Exhibit C, subject also to the following conditions: a. Final Design. Before the earlier of (1) issuance of the first building permit for the Project and (2) the sixth anniversary of the Effective Date, Owner shall submit to the City the final design of the Public Art. b. Installation. Before the earlier of (1) the City's issuance of a Certificate of Use for the main Cathedral building and (2) the twelfth anniversary of the Effective Date, Owner shall install the Public Art. The latter date shall be extended to run concurrent with any extension of the Term. c. Failure to Meet Time Requirements. If Owner fails to meet either of the time requirements set forth in Sections 5.8 a and b above, Owner shall pay the City $250,000 to be used by the City to acquire other public art for other locations within the City. In either instance, Owner will not be considered in default under this Agreement. d. Progress Reports. During the construction and/or installation of the Public Art, Owner shall provide City with written reports on the progress of the construction when and as reasonably requested by the City. The report shall be in such form and detail as may be reasonably required by the City. The timeframes set forth above for final design and installation of the Public Art may be modified at any time or times by mutual written agreement of the Parties. Such revisions do not constitute amendments of this Agreement requiring further notice and public hearing. Either the Planning Director or the City Manager is authorized to sign such agreements on behalf of the City. e. Responsibility For Costs of Work Of Public Art. Owner shall be responsible for all costs associated with the design, construction, maintenance, and repair of the Public Art. f. City to Receive Contract Documents. Owner shall furnish City, upon written request, copies of contracts and supporting documents relating to the Public Art. 5.9. Moratoria. The Project shall be exempt from any moratorium adopted after the Effective Date which would otherwise affect the construction, use, or density of the Property. 5.10. Conditions of Discretionary Approvals. Except as provided in Section 4.3 above, the conditions of the Existing Approvals and any discretionary approval 70020313.6 6/14/04 8 75C-18