Common use of Developer Undertakings Clause in Contracts

Developer Undertakings. During the term of this Agreement the Developer shall use commercially reasonable efforts to do the following: (a) Continue to refine or modify its site and building plans for the Development. (b) Upon receipt of payment as provided for in Section 5, Assign its rights and obligations under the Purchase Agreement dated December 27, 2013, as amended, for Developer’s Property to the EDA, with confirmation that such Purchase Agreement has been extended through June 20, 2014. (c)(b) Seek to Secure secure a Letter of Intent from an approximately 13,000 square foot specialty grocery store acceptable to the EDA to be located on the Redevelopment Property as part of the Development. (d) (c) Seek to secure other tenants for the Development; provided that the Developer has no authority by virtue of this Agreement to lease or otherwise encumber the EDA Property, without the EDA’s written consent. (e) (d) Submit to the EDA a proposed schedule for the Development as well as the timing of the closing on financing. (f) (e) Seek to secure a commitment for financing sufficient for construction of the Development. (g) (f) Using title information and a survey provided by the EDA, upon receipt of a Letter of Intent as stated in Section 4(c),above, update evidence of title to the EDA Property and provide to the EDA any objections to title. (h) (g) Submit to the EDA a project pro forma detailing all costs of the Development and the sources and uses of all funds to be raised to finance the Development, including justification for the amount proposed to be paid by the Developer, if any, to acquire the EDA Property and City assistance necessary to proceed with development of the Redevelopment Property. (i)(h) Undertake preliminary engineering and soil testing of the Redevelopment Property as Developer determines, in its sole discretion. For this purpose, the Developer and its contractors shall have the right to enter upon the EDA Property at reasonable times and after notice to the EDA. The Developer shall indemnify, defend and hold the EDA harmless from and against any claims or damage, of whatsoever nature, arising out of the entry onto the EDA Property and shall repair any damage caused to the EDA Property. (j) (i) Using environmental reports and studies provided by the EDA and such other studies and testing deemed necessary by Developer, determine the acceptability of the environmental condition of the Redevelopment Property. (k) (j) Identify the Additional Property to be acquired in order to undertake and complete the Development and use commercially reasonable efforts to acquire the Additional Property or secure options or purchase agreements with the owners of such property. (l) (k) Identify public improvements expected or required to be completed as part of the Development. (m) (l) Conduct a community open house to solicit public input regarding the proposed development concepts and such other neighborhood meetings, if requested by the EDA. (n) (m) Work with the EDA or City to provide information necessary to apply for funding grants from governmental grant sources. (o) (n) Make all required presentations to the City Council, the EDA and the Planning Commission in connection with approvals of the Development. Except as otherwise provided herein, all of the information described above shall be prepared or collected at the sole expense of the Developer. The Developer agrees that it will provide the EDA with quarterly status reports on progress made with respect to its activities under this Agreement.

Developer Undertakings. During the term of this Agreement the Developer shall use commercially reasonable efforts to do the following: (a) Continue to refine or modify its site and building plans for the Development. (b) Upon receipt of payment as provided for in Section 5, Assign its rights and obligations under the Purchase Agreement dated December 27, 2013, as amended, for Developer’s Property to the EDA, with confirmation that such Purchase Agreement has been extended through June 20, 2014. (c)(b) Seek to Secure secure a Letter of Intent from an approximately 13,000 square foot specialty grocery store acceptable to the EDA to be located on the Redevelopment Property as part of the Development. (d) (c) Seek to secure other tenants for the Development; provided that the Developer has no authority by virtue of this Agreement to lease or otherwise encumber the EDA Property, without the EDA’s written consent. (e) (d) Submit to the EDA a proposed schedule for the Development as well as the timing of the closing on financing. (f) (e) Seek to secure a commitment for financing sufficient for construction of the Development. (g) (f) Using title information and a survey provided by the EDA, upon receipt of a Letter of Intent as stated in Section 4(c),above, update evidence of title to the EDA Property and provide to the EDA any objections to title. (h) (g) Submit to the EDA a project pro forma detailing all costs of the Development and the sources and uses of all funds to be raised to finance the Development, including justification for the amount proposed to be paid by the Developer, if any, to acquire the EDA Property and City assistance necessary to proceed with development of the Redevelopment Property. (i)(h) Undertake preliminary engineering and soil testing of the Redevelopment Property as Developer determines, in its sole discretion. For this purpose, the Developer and its contractors shall have the right to enter upon the EDA Property at reasonable times and after notice to the EDA. The Developer shall indemnify, defend and hold the EDA harmless from and against any claims or damage, of whatsoever nature, arising out of the entry onto the EDA Property and shall repair any damage caused to the EDA Property. (j) (i) Using environmental reports and studies provided by the EDA and such other studies and testing deemed necessary by Developer▇▇▇▇▇▇▇▇▇, determine the acceptability of the environmental condition of the Redevelopment Property. (k) (j) Identify the Additional Property to be acquired in order to undertake and complete the Development and use commercially reasonable efforts to acquire the Additional Property or secure options or purchase agreements with the owners of such property. (l) (k) Identify public improvements expected or required to be completed as part of the Development. (m) (l) Conduct a community open house to solicit public input regarding the proposed development concepts and such other neighborhood meetings, if requested by the EDA. (n) (m) Work with the EDA or City to provide information necessary to apply for funding grants from governmental grant sources. (o) (n) Make all required presentations to the City Council, the EDA and the Planning Commission in connection with approvals of the Development. Except as otherwise provided herein, all of the information described above shall be prepared or collected at the sole expense of the Developer. The Developer agrees that it will provide the EDA with quarterly status reports on progress made with respect to its activities under this Agreement.