80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT J

Home Browse Search

~04~~ Age~rcy's Cnndi#~oris of ~osil~g, ~'he Ael~cy's abliatian to proceed ~~ith the losing for each Phase is subject to the fulfillt~nelit, or ~~aivet" b~ tl~e Ael~cy ~xeclrtive Director, a~' each and all of tl~e conditions precedent ~a~ tl~rolrgl~ ~i}, lnclusrve, described below Frith respect to such Phase the "Agency's conditions Pr'ecedet~t"}, ~vl~ich are solely fat{ the benefit of Agency, and ~vhtclr slrall be fulfilled or waived on or' before tl~e applicable ~uts~de losing Date" At~y cor~ditian not specifically waived prior to such Claslri shall be deemed ~varved lrpo~l arl~eyance for the Phase associated ~vitl~ such closing: ~a} ~~o Defr~~~~~. Prior to tl~e dose of ~scr"o~v far' such Phase, the Developer leas not co~r~mitted and failed to cure any defa~~lt ire al~y of its ohllatians under the tee"r~~s of this Ar'eelrrent ~~ith respect to s~~ch P~~ase a~~d all representatiarrs arr~~ ~varrar~ties of tl~e Developer contail~ed l~e~'ei~~ shall be tare and cor'r'ect ir7 all n~ater{ial r'espects~ ~b~ ~a~~~rer~~ o, f C'~~s~rr Coss a~rc~ ~~~~~c~~ase ~~•i~, ~'~~e D~elopei" shall lave deposited. tl~e P~~rclrase Price fog" s~~cl~ Phase and all casts payable by Developez" s~~c~~ losing into ~scro~v in accordance ~~rrth Section Zoe lr~to Escro~~r. ~c~ .~xec~r~iorr o~ ~~~~~~t~ert~s. ~'he De~elape~i sill have executed and, as necessary far recardatior~, shall lave lead acknowledged, any daeur~terrt required l~ere~~r~der ~vitl~ r"espect to such Please and shall lave deliver+ed srlcl~ dacurner~ts into Escrow ~it~clt~ding, ~vrtl~out llrrrltat~ot~, the once of~ffor"lability Restrrctrorrs~, ~d } o~~c~~~rra~ 5~~~ ~'~a~~ use ~~~~a~•o~~a~s" Tl~e Developer shall ~i} have obtained City ~lld Agel~cy Execrrtivo Director approval ofthe ot~ceptual Site Play and final a~~strrrctror~ Drawings for' all of tl~e Developer ~rnpro~el~~er~ts rll s~rcl~ Phase, iii} Dave obtained all Laud Use Approvals necessary for• the development of such Phase, as set forth itl Sectlorr ~~3 hereof, and ~ii~~ take such actions as are necessary to ir~s~~re t~~at buildi~~g pertrtits for the developlrrent of s~~cl~ Phase shall be issued concurrently ~vrtl~ losing o tl~e portion of the Site associated ~~~rth s~~cli Phase, or' detrror~strate to Agency's reasarlable satrsfactlotl that bulldln permits for" tl~e development of such Phase are ready to be issued b~rt for the pay~t~er~t of fees associated tl~ere~vith, at~d that the funds r~ecessar{y for tl~e paylrre~~t a~ such fees leas been allocated}reserved al~d cot~rlnrtted rr~ the cot~st~~~lction fit~atlcltl or equrty contr'tbutlal~s ~v~~lcl~ at'e available upon and after' tl~e date oftl~e losing, ~e~ ~i~srr~•ace~ Tire Developer s~~all have provided proof of ii~sural~ce as req~iired by Section D~ l~er•eof~vitl~ respect to such Phase, ~ ~'rncr~rci~~, Tl~e Agency shall leave appr'o~~ed the Evidence of onstr~~ctio~a Fit~a~~cii~g of tl~e De~~eloper Irnpr'over~~ents foci ~~c}~ ~'l~ase as Provided ire Section ~ ~ ~ ~rereof at~~l the financl~~g consistent with the Evidence of o~~st~auction Financing far suer Phase shall have ceased and. funded or+ be ready to olose and fiend at the applicable losit~g~ ~g~ er~e~~a~ ~'o~~~~"c~c~~~~ o~~tRac~. Tile Developer shall leave provided oi" caused to be provided to the Agency Executive Director a cop~r afa valid and binding contract bet~veer~ the Developer a~~d ot~e or' mare California-licensed gel~e~'al contractors for' the coi~tructiot~ of tl~e Developed ~mproven~ei~ts associated ~vitl~ s~~cl~ Phase, certified by tl~e ~7 DO C~~11 SID ~~7v 1 ~I2~~2~2-~~~ 1 l