Construction; Work Permits; and Phasing Clause Samples

Construction; Work Permits; and Phasing. Prior to commencing any construction of the Work, Elements shall first obtain all necessary licenses, permits, approvals and all other private and public approvals that are necessary to commence the Work (the “Work Permits”). Elements will obtain payment and performance bonds for the Work as it deems desirable in its sole discretion and as required by applicable law (the “P&P Bonds”). Elements shall make application for the Work Permits no later than thirty (30) days after the Escrow Closing and shall use commercially reasonable efforts to obtain the Work Permits in a timely manner. If Elements is unable to obtain the Work Permits using commercially reasonable efforts, Elements may terminate this Agreement, and this Agreement shall be of no further force and effect. Elements shall commence construction of the Work (as evidenced by the mobilization of Elements’ contractor) within three (3) months after the Work Permits are obtained and no later than February 26, 2022, as set forth in Section 14(c) below. If Elements shall not have commenced construction of the Work on or before said date, this Agreement shall be terminated and be of no further force and effect. The Work shall be constructed in two phases as follows: (i) The initial Work shall consist of the Parking Improvements to the Replacement Parcel and adjacent School Board property so that such portion of the Work is completed and fully functional for School Board’s use prior to any of the Work commencing on the School Board Parcel which impairs School Board’s use of and access to the School Board Parcel. The Parking Improvements shall be completed by the earlier of twelve (12) months after commencement of the same or August 26, 2022, subject to day for day extensions resulting from force majeure. (ii) No sooner than such time as the Parking Improvements are fully completed and the Replacement Parcel Closing has occurred (so that the Replacement Parcel Deed has released from escrow to the School Board in accordance with Section 14(b) below and the School Board has full use of the Parking Improvements), Elements shall commence the portion of the Work consisting of the Prudential Drive Extension. The Prudential Drive Extension shall be completed by the earlier of three (3) years after commencement of the same or February 27, 2024, subject to day for day extensions resulting from force majeure.