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5.8.. Work of Public Art. In consideration for the benefits set forth in this Agreement, OWner shalllndude within the Project a work of PubUc Art (the .Public Arf'). The Public Art shall be designed, Installed. and located in compliance with Exhibit C, subject also to the fol.lowing conditions: 8. 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 mafnCathedral building and (2) thelwelfth anniversary of the Effective Date, Owner shall install the Public Art. The latter date shall be extended to Nn concurrent with any extension of the Tefl1't. '- c. Failure to Meet Time Requlre.ments. If OWner falls 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 tlmeframes 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 notiçe and public hearing. Either the Planning Director or the City Manager is authorized to sign such agreements on behalf of the City. 8. Responsibility For Costs of Work Of Public Art. Owner shaH be responsible for all costs associated with the design, construction. maintenance. and repair of the Public Art. ....., f. City to Receive Contract Documents. OWnershaU 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 oth8fWise affect the construction, use, or density of the Property. 5.10. Conditionsot Discretionary Approvals. Except as provided in Section 4.3 above, the conditions of the Existing Approvals and any discretionary approval -- ",-," Ordinance No. NS-2657 Page 10 of 20