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, � �ook : �941 Page : 149 <br /> interest in the property shall relieve City of its obligations under this Agreement, <br /> and shall render the remainder of this Agreement null and void. <br /> 2. City shall, from available Community Development Block Grant <br /> Program funding, reimburse Owner for approved exterior design and facade work <br /> to the building, upon proof that Owner has first expended such sums as City shall <br /> require as and for Owner's share of the improvements, and only for such eligible <br /> amounts as remain due and owing after Owner has paid Owner's share of the <br /> exterior design and facade improvements. City's liability hereunder for all such <br /> renovation work shall be limited to 10% for the professional fees, shall not be <br /> less than five thousand dollars ($5,000) and shall not exceed sixty-five thousand <br /> ($65,000) per building. If Owner fails to meet every requirement of this <br /> agreement, City may demand, and Owner shall repay, all funds paid by City to <br /> Owner under this agreement. <br /> 3. Upon completion of the exterior design and facade renovation work <br /> and 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 additions <br /> to, nor shall Owner remove any portion of, the exterior design or facade of the <br /> building, including signs, lighting and other implements attached thereto, in such <br /> a way as would materially alter the aesthetic character of the exterior design and <br /> facade of the building, as the same was approved by the City prior to final <br /> release of funds pursuant to this agreement. City shall be under no obligation to <br /> release funds under this agreement until the exterior design and farade <br /> renovations are completed, and approved by City. <br /> 4. All exterior design and facade renovation work described in Exhibit A <br /> hereto shall be completed within one year from the date of this Agreement. If all <br /> exterior design and facade work is not completed within one 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 deduct <br /> the $50/day penalty from any amounts otherwise due Owner from City under this <br /> Agreement. <br /> 3 Updated 9/2008 <br />