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B. Environmental. Developer shall submit such environmental reports for the <br />Development Site to City as are requested by the Developer's lenders for the Project and <br />evidencing that there are no hazardous materials located on the Development Site or <br />violation of environmental laws that would prevent development of the Development Site <br />in accordance with the Project Plans. Developer shall have delivered a reliance letter from <br />the preparer of the environmental reports authorizing reliance on those reports by the City. <br />C. Landscaping. The Developer shall submit a final landscape plan, which shall be <br />subject to written approval by the City. The Developer is required to maintain and preserve <br />that landscape plan. <br />D. Utilities. To the extent that utility improvements are necessary to service the <br />Project, the Developer at its cost, shall be responsible for the construction, reconstruction <br />or installation of utility improvements (including any underground utilities), including, but <br />not limited to, storm and sanitary sewers (including necessary site grading therefore) and <br />water lines. <br />E. Service Agreement. The Service Agreement shall be effective and shall also have <br />been recorded against the Project Site. <br />The Parties will proceed diligently and in good faith to pursue the satisfaction of these <br />items in a timely and coordinated manner intended to result in the timely development of the <br />Project in accordance with the Development Plan. <br />VIII. CONSTRUCTION OF PROJECT <br />In order to claim the benefit of the TIF pursuant to this Agreement, the Developer will <br />apply for all necessary building permits, including, but not limited to, permits for construction of <br />buildings, site development, exterior signage, infrastructure on public property and on property of <br />others, utility and storm sewer construction (collectively, the "Building Permits"), no later than <br />February 28, 2022. Developer will commence construction of the Project, including, but not <br />limited to, demolition and environmental remediation, no later than twelve (12) months after <br />receiving the Building Permits for the Project or the effective date of all TIF-related legislation <br />and agreements, whichever is latest (the "Commencement Deadline"); provided, however, that if <br />the issuance of Building Permits for the Project by the City occurs later than three (3) months after <br />application for such Building Permits by the Developer (not including any period of time <br />beginning upon delivery by the City of a correction notice to the Developer and ending upon <br />resubmission by the Developer), the Commencement Deadline shall be extended by a period of <br />time equal to the time by which the issuance of such Building Permits exceeds three (3) months. <br />During the above -referenced 12-month period, the Developer shall proceed in good faith to <br />advance the Project, and shall respond to any reasonable requests made by the City regarding the <br />status of the Project. Notwithstanding anything to the contrary herein, construction of the Project <br />shall be substantially completed no later than June 30, 2025. <br />The Developer and the City are always mindful and concerned that construction of <br />development projects proceeds diligently. Developer intends to construct the Project in a timely <br />manner in accordance with the Development Plan. The City and Developer acknowledge that <br />7 <br />15785832v23 <br />