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99106375
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Last modified
3/13/2012 6:13:40 PM
Creation date
10/20/2005 11:47:33 PM
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DEEDS
Inst Number
99106375
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1 ` <br /> 99 106375 <br /> (Conditions Subsequent) of the Ground Lease have been met or waived in writing by Tenant, or <br /> (b) one month after Landlord has completed and provided Tenant written notice of completion of <br /> the Phase 1 Site Work, as further described in Article 5 (The'Site Work) of this Development <br /> Agreement, whichever is later. Once commenced, the construction of Tenant's Building shall be <br /> diligently prosecuted to completion, and Tenant shall be ready to open for business within <br /> (1) one year after Tenant commences construction of Tenant's Building, or (2) one month after <br /> Landlord has completed all of the Phase 1 Site Work as defined in Section 5.2 of this <br /> Development Agreement, whichever is later. <br /> 3. Construction by Landlord. <br /> 3.1 Landlord agrees to commence construction of a building ("Landlord's <br /> Building") for retail shops having approximately 8,500 square feet of Ground Floor Area within <br /> the Building Area of Parcel 1 on Exhibit "A" as soon as reasonably possible, but in no event later <br /> than the date Tenant commences construction of Tenant's Building. The construction of the <br /> shops to shell stage shall be completed and the improved Common Area cleared of all <br /> construction materials and debris, construction sheds/trailers and temporary utilities not later <br /> than the date Tenant first opens Tenant's Building for business, and Landlord agrees to employ <br /> its best efforts to complete and lease said shops as soon as reasonably possible after said date. <br /> 3.2 Landlord agrees to construct and install the structures for Center Pylon <br /> Signs A and B in the locations shown on Exhibit "A" in accordance with plans and specifications <br /> prepared by the Project Architect (as defined in Section 4.1 of this Development Agreement) and <br /> approved by Tenant ("Sign Plans and Specifications"), which construction and installation <br /> shall be completed in conjunction with the development of the Phase 1 Site Work. The Sign <br /> Plans and Specifications for Center Pylon Signs A and B shall be submitted to Tenant as part of <br /> the Construction Documents (as defined in Section 4.2 of this Development Agreement) for the <br /> Phase 1 Site Work. The structures for Center Pylon Signs A and B shall be constructed and <br /> installed by the Site Contractor (as defined in Section 6.1 of this Development Agreement) in <br /> conjunction with the Phase 1 Site Work. Furthermore, any Consenting Owners may contract for <br /> the design, construction, and installation of any Center Pylon Sign ancl bill the parties responsible <br /> to contribute to the cost thereof, which billing shall be paid within thirty (30) days following <br /> receipt of the billing and reasonable backup documentation by the party obligated to pay. The <br /> structures for Center Pylon Signs A and B and all Utility Lines and Facilities appurtenant thereto <br /> shall be completed at least ninety (90) days prior to the date Tenant plans to first open Tenant's <br /> Building for business. If Landlord defaults in the performance of any of its obligations contained <br /> in this Section 3.2, Tenant may perform the obligations of Landlord in any commercially <br /> reasonable manner and shall have all rights of reimbursement, collection and contribution set <br /> forth in Article 9 (Payment of Costs) of this Development Agreement and/or in Section 15.3 of <br /> 2 <br />
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