Reso 2010-1658 - Laserfiche WebLink

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hereunder and not in its governmental capacity, unreasonable delays approvals required from the City under this Agreement. For the purpose of the Developer's Schedule, the date of possession is March 1, 2012. As contemplated herein, the Project shall be complete upon the issuance of a final, permanent certificate of occupancy for all Vertical Improvements and certificates of the Public Services Director that all Infrastructure Improvements have been completed. 5.2 In the event that the Developer fails to comply with the Developer's Schedule, or within such additional period of time as approved by the City in its sole discretion, and notwithstanding any other remedies provided for in this Agreement, the City may terminate this Agreement, the Ground Lease, Parking Agreement and Design/Build Agreement. In such event, the City shall provide written notice to the Developer of its intent to exercise its rights in accordance with Section IX within ten (10) days of delivery of such notice. ARTICLE VI PROJECT COSTS AND FUNDING 6.1 Developer Funding. Subject to the provisions of Section 8.1 hereof, the parties agree that prior to the execution of the Design/Build Agreement and this Agreement, the Developer shall demonstrate its financial commitment and ability to construct the Project by procuring and presenting to the City a financing commitment from an institution acceptable to the City and in a form and in such amount as will permit the Improvements to be constructed in accordance with the Plans and Specifications and approved Site Plan subject only to such conditions as are reasonably acceptable to the City. 6.2 Maintenance of Improvements. The City and Developer will provide for the operation and maintenance, and costs associated therewith, of private and public facilities and improvements, including the Infrastructure Improvements, on the Project Site as set forth in the Declaration of Restrictions and Covenants and the Ground Lease Agreement. The maintenance of all facilities and improvements pursuant to this paragraph shall be consistent and in compliance with the City's Code of Ordinances ARTICLE VII REPRESENTATION AND WARRANTIES OF DEVELOPER 7.1 The Developer represents and warrants as follows: 7.1.1 Corporate Organization. The Developer is a limited liability company duly organized and validly existing in good standing under the laws of the State of Florida and duly qualified to do business in the State of Florida. It has all requisite power and authority to own and operate its properties, to carryon its business as presently conducted and enter into and perform its obligations under this Agreement and pursuant to each document and agreement to which it is or will be a party as contemplated by this Agreement. 5