Common use of CONSTRUCTION OF REDEVELOPER IMPROVEMENTS Clause in Contracts

CONSTRUCTION OF REDEVELOPER IMPROVEMENTS. The Redeveloper, through a minimum investment of Five Million Two Hundred Thousand and No/100ths Dollars ($5,200,000.00), shall at its own cost and expense purchase, design and construct the Redeveloper Improvements substantially in conformance with the Design Documents and the Construction Documents. Redeveloper agrees to use commercially reasonable efforts to substantially complete construction of the Redeveloper Improvements and to pay in a timely manner Redeveloper’s contractor, or his or her subcontractors who performed labor or supplied materials in the prosecution of the Redeveloper Improvements. Promptly after completion of the Redeveloper Improvements and promptly after the Redeveloper provides the City with the proper documentation that Redeveloper’s contractor or his or her subcontractors who performed labor or supplied materials in the prosecution of the Redeveloper Improvements have been properly paid in accordance with all the provisions of this Agreement, the City shall upon request by the Redeveloper furnish a Certificate of Completion, the form of which is shown on Exhibit “C” which is attached hereto and incorporated herein by this reference. Such certification by the City shall be a conclusive determination of satisfaction of the terms and covenants in this Agreement with respect to the obligations of Redeveloper to construct the Redeveloper Improvements. The Certificate of Completion shall be recorded by the City in the office of the Register of Deeds for Lancaster County, Nebraska. If the City shall refuse or fail to provide the certification in accordance with the provisions of this paragraph after being requested to do so by Redeveloper, the City shall, within fifteen (15) days after written request by Redeveloper, provide Redeveloper with a written statement indicating in what respect Redeveloper has failed to complete the Redeveloper Improvements subject to each such certification in accordance with the provisions of this Agreement and what measures or acts will be necessary, in the opinion of the City, for Redeveloper to take or perform in order to obtain such certification. As used herein, the term “completion” shall mean substantial completion of the Redeveloper Improvements so that they may be reasonably used for their intended purposes.

CONSTRUCTION OF REDEVELOPER IMPROVEMENTS. The Redeveloper, through a minimum investment of Five Seven Million Two Hundred Thousand and No/100ths Dollars ($5,200,000.007,000,000.00), shall at its own cost and expense purchase, design and construct the Redeveloper Improvements substantially in conformance with the Design Documents and the Construction Documents. Redeveloper agrees to use commercially reasonable efforts to substantially complete construction of the Redeveloper Improvements and to pay in a timely manner Redeveloper’s contractor, or his or her subcontractors who performed labor or supplied materials in the prosecution of the Redeveloper Improvements. Promptly after completion of the Redeveloper Improvements and promptly after the Redeveloper provides the City with the proper documentation that Redeveloper’s contractor or his or her subcontractors who performed labor or supplied materials in the prosecution of the Redeveloper Improvements have been properly paid in accordance with all the provisions of this Agreement, the City shall upon request by the Redeveloper furnish a Certificate of Completion, the form of which is shown on Exhibit “CE” which is attached hereto and incorporated herein by this reference. Such certification by the City shall be a conclusive determination of satisfaction of the terms and covenants in this Agreement with respect to the obligations of Redeveloper to construct the Redeveloper Improvements. The Certificate of Completion shall be recorded by the City in the office of the Register of Deeds for Lancaster County, Nebraska. If the City shall refuse or fail to provide the certification in accordance with the provisions of this paragraph after being requested to do so by Redeveloper, the City shall, within fifteen (15) days after written request by Redeveloper, provide Redeveloper with a written statement indicating in what respect Redeveloper has failed to complete the Redeveloper Improvements subject to each such certification in accordance with the provisions of this Agreement and what measures or acts will be necessary, in the opinion of the City, for Redeveloper to take or perform in order to obtain such certification. As used herein, the term “completion” shall mean substantial completion of the Redeveloper Improvements so that they may be reasonably used for their intended purposes.

CONSTRUCTION OF REDEVELOPER IMPROVEMENTS. The Redeveloper, through a minimum investment of Five Million Two Hundred Thousand and No/100ths Dollars ($5,200,000.00500,000.00), shall at its own cost and expense purchase, design and construct the Redeveloper Improvements substantially in conformance with the Design Documents and the Construction Documents. Redeveloper agrees to use commercially reasonable efforts to substantially complete construction of the Redeveloper Improvements and to pay in a timely manner Redeveloper’s contractor, or his or her subcontractors who performed labor or supplied materials in the prosecution of the Redeveloper Improvements. Promptly after completion of the Redeveloper Improvements and promptly after the Redeveloper provides the City with the proper documentation that Redeveloper’s contractor or his or her subcontractors who performed labor or supplied materials in the prosecution of the Redeveloper Improvements have been properly paid in accordance with all the provisions of this Agreement, the City shall upon request by the Redeveloper furnish a Certificate of Completion, the form of which is shown on Exhibit “CD” which is attached hereto and incorporated herein by this reference. Such certification by the City shall be a conclusive determination of satisfaction of the terms and covenants in this Agreement with respect to the obligations of Redeveloper to construct the Redeveloper Improvements. The Certificate of Completion shall be recorded by the City in the office of the Register of Deeds for Lancaster County, Nebraska. If the City shall refuse or fail to provide the certification in accordance with the provisions of this paragraph after being requested to do so by Redeveloper, the City shall, within fifteen (15) days after written request by Redeveloper, provide Redeveloper with a written statement indicating in what respect Redeveloper has failed to complete the Redeveloper Improvements subject to each such certification in accordance with the provisions of this Agreement and what measures or acts will be necessary, in the opinion of the City, for Redeveloper to take or perform in order to obtain such certification. As used herein, the term “completion” shall mean substantial completion of the Redeveloper Improvements so that they may be reasonably used for their intended purposes.