1976-01 CRA - Laserfiche WebLink

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. . . may be extended for forty-five (45 working days).upon the written approval of the Executive Directors of the Agency and the Authority. However, further extensions may only be granted with the prior approval of the Agency and Authority Boards. SEC. 5. TIME FOR CERTAIN OTHER ACTIONS (a) Time for Submission of Construction Plans. The time within which the Redeveloper shall submit its "construction plans" (as defined in Section 301 hereof) to the Agency in any event shall be not later than the date set forth in the Schedule of Performance Item 3. (b) Time for Submission of Corrected Construction Plans. Except as provided in Paragraph (c) 9f this Section 5, the time within which the Redeveloper shall submit any new or corrected Construction Plans as provided for in Section 301 hereof shall be not later than thirty (30) days after the date the Redeveloper receives written notice from the Agency of the Agency's rejection of the Construction Plans referred to in the latest such notice. (c) Time for Agency Action on Chan e in Construction Plans. The time w~t ~n which the Agency may reject any change ~n the Construction Plans, as provided in Section 302 hereof, shall be fifteen (15) days after the date of the Agency's receipt of notice of such change. (d) Time for Submission of Evidence of Equity Capital, Mortga~e Financing and Construction Documents. At the times set forth ~n the Schedule of Performance therefor, the Redeveloper shall submit to the Agency for its approval the following: (i). A copy of the commitment or commitments obtained by the Redeveloper for the mortgage loan or loans to assist in financing the construction of the improve- ments (as defined in Section 301 hereof), certified by the Redeveloper to be a true and correct copy or copies thereof; (ii) A copy of the mortgage loan agreement between the Redeveloper and the lender wbich shall provide that the loan proceeds shall be used only for the con- -10-