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limitations set for herein and the CDBG Program guidleines established by <br /> HUD. <br /> 5. The Owner agrees to complete exterior code improvement repairs on the <br /> facades of the building which have deteriorated under a previous Ten (10) <br /> year fa�ade agreement with the City prior to proceeding with the exterior <br /> design and fa�ade of the east and north facades of the building, as described as <br /> Exhibit B and incorporated by reference. <br /> 6. Owners shall neither expend nor obligate funds under this agreement until a <br /> written Notice to Proceed is issued by Development Services of the City of <br /> Decatur. Development Services shall issue a Notice to Proceed upon sufficient <br /> demonstration by Owner of the following condition: The exterior code <br /> improvement repairs on the west and south facades which have deteriorated <br /> under a previous agreement have been improved to approved City standards. <br /> 7. Once that agreement has been fulfilled, i.e. inspected and approved, the City <br /> will then issue a notice to proceed for THIS agreement. <br /> 8. Any physical work done to the building PRIOR to the issuance of the notice of <br /> proceed will not be reimbursed through the funding of this agreement. <br /> 9. The use of said loan proceeds for any other property, or any improvements not <br /> approved by City shall constitute a breach of this Agreement. <br /> 10.Upon completion of the exterior design and facade renovation work and <br /> approval by City of the same, and continuing for a period of ten (10) years <br /> thereafter, Owner shall make no alterations, repairs, improvements or <br /> additions to, nor shall Owner remove any portion of, the exterior design or <br /> facade of the building, including signs, lighting and other implements attached <br /> thereto, in such a way as would materially alter the aesthetic character of the <br /> exterior design and facade of the building, as the same was approved by the <br /> City prior to final release of funds pursuant to this agreement. City shall be <br /> under no obligation to release funds under this agreement until the exterior <br /> design and fa�ade renovations are completed,and approved by City. <br /> 11.All exterior design and facade renovation work described in Exhibit A hereto <br /> shall be completed within one (1) year from the date of this Agreement. If all <br /> exterior design and facade work is not completed within one (1) year of this <br /> Agreement, Owner shall pay to City a late penalty of Fifty Dollars ($50.00) per <br /> day for each day the work remains incomplete. Owner authorizes City to <br /> deduct the $50/day penalty from any amounts otherwise due to the Owner <br /> from City under this Agreement. <br /> 12.Owner shall maintain the exterior design and facade of the building for a <br /> period of ten (10) years, in the aesthetic character achieved upon completion <br /> of the work described herein, as approved by City, maintaining the same at <br /> Owner's expense in a state of good repair. Owner shall cooperate with City <br /> fully, allowing such inspections as City shall deem reasonable and necessary, <br /> including but not limited to complete inspections annually. Material breach of <br /> Owner's obligation to cooperate with City inspections and/or maintain the <br /> exterior of the building in good repair shall constitute default under this <br /> Agreement. <br /> 2 <br />