R2014-04 AUTHORIZING CITY OF DECATUR / HARRISON MANAGEMENT GROUP LLC REDEVELOPMENT AGREEMENT

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CU N d 2.6 Amended Construction Plans. Prior to completion of the Project or any Phase thereof, C if the Redeveloper desires to make any substantial change in the Construction Plans for a M particular Phase which significantly affects the appearance, function, or structural integrity of that Phase, the Redeveloper shall submit the proposed change to the City for V) its approval. If the Construction Plans, as modified by the proposed change, conform to dthe requirements of this Redevelopment Agreement, meet Applicable Law and do not create a fundamental change in the nature, size or aesthetics of that Phase, the City shall so approve the proposed change and notify the Redeveloper in writing of its approval. If the p City disapproves of such change, it shall notify the Redeveloper in writing with o specificity as to the reasons for the disapproval, in which event the Redeveloper may submit a revised change within a reasonable time thereafter. This process shall repeat until the revised plans are approved by the City or the change is abandoned by the Redeveloper. If such change is not so approved or rejected in writing within ten (10) working days of receipt of the submission to the City from the Redeveloper, such change will be deemed approved. 2.7 Commencement and Completion Requirements. 2.7.1 Commencement. The Redeveloper shall commence construction of the Project in accordance with the redeveloper's approved plans within one hundred eighty days after closing upon purchase of property more fully described in Exhibit 1 attached hereto. 2.7.2 Completion. The Redeveloper shall Substantially Complete construction of the Project and open for business a retail furniture store under the name "Ashley Furniture"within(15)fifteen months after closing. 2.8 Certificate of Completion. Promptly after Substantial Completion of construction of the Project or any phase thereof and upon request of the Redeveloper, the City will execute and deliver to the Redeveloper a certificate of completion. Said instrument of certification by the City shall be (and it shall be so provided in the certification itself) a conclusive determination of satisfaction with respect to the obligations of the Redeveloper and its successors and assigns that the construction of the Project or any phase thereof has been Substantially Complete in accordance with the provisions of this Agreement. 2.9 Form of Certification. If the City refuses or fails to provide any certification in accordance with the provisions of this Agreement, the City shall, within fifteen (15) days after written request by the Redeveloper, provide the Redeveloper with a written statement indicating in adequate detail in which respects the Redeveloper has failed to Substantially Complete construction of the Project in accordance with the provisions of this Agreement, or is otherwise in default, and what measures or steps will be necessary, in the opinion of the City, for the Redeveloper to take or perform in order to obtain such certification. Said certification as provided herein shall not be unreasonably withheld by the City and the Project shall be deemed approved if the City fails to conform to the provisions of Section 2.9 and this Section 2.10. 2.10 Quality of Construction and Conformance to Federal, State and Local Requirements. All work with respect to the Project shall conform to Applicable Law including, but not limited to, design standards, environmental codes and life safety codes. City of Decatur/Harrison Management Group LLC Redevelopment Agreement 7