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Activity <br />Commencement Date <br />Completion Date <br />Environmental /Site Work <br />On or Before September <br />September 15,2021 <br />15, 2019 <br />Section1.04 Guarantee of Completion <br />Grantee unconditionally and irrevocably guarantees timely completion of the Project in accordance <br />with Section 1.03 of this Grant Agreement. To accomplish complete and timely execution of the Project, <br />Grantee shall make payment for any cost overruns. This guarantee shall not hinder the City in any way from <br />requiring other individuals or entities not party to this Agreement, including but not limited to tenants, <br />contractors and subcontractors, to make similar guarantees in connection with the Project. <br />Upon the City's request, the Grantee shall provide the City a completion guaranty with respect to said <br />obligation in the form of a performance bond, letter of credit or, if the City shall so require, a completion <br />guaranty personally executed by the Grantee. <br />Successful completion of the Project is defined as substantially completing all work listed in Article I of <br />this Grant Agreement, reasonably within the time lines listed in Section 1.03 of this Grant Agreement, and with <br />a total cost of at least the amount listed as Total Project Costs in Section 1.01 of this Grant Agreement. <br />If completion of the Project is delayed at any time by an act or neglect of the City or by labor disputes, <br />fire, unusual delay in deliveries, unavoidable casualties, or other causes beyond Grantee's control, the time for <br />completion of the Project shall be extended by mutual agreement in writing between the and the City. <br />Section 1.05 Documentation Requirements <br />Completion Requirements <br />Upon completion of the required environmental remediation work, Grantee will file for an receive a No <br />Further Action Letter (NFA) from the Bureau of Underground Storage Tank Regulation ( BUSTR) bringing the <br />site to appropriate environmental standards for residential re -use. Upon issuance of the NFA letter, Grantee <br />will submit invoices for qualifying expenses. Grantee will be eligible for up to $100,000 rebate of qualifying <br />expenses. <br />Documentation Requirements <br />Prior to rebate payment, Grantee shall complete and submit: <br />(1) BUSTR No Further Action letter indicating that the site is cleared for residential re -use <br />(2) Invoices and Proof of Payment for environmental remediation activities. <br />Page 3 of 18 <br />