R2005-49 AUTHORIZING DEVELOPMENT AGREEMENT Near North

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Developer and DHA agree that the City can enter all or any portion of the City Parcels into the Illinois Site Remediation Program(the"Program")provided: 1)the City will pay for the City's monitoring costs of the Program;2)Developer's monitoring costs,if any,will be a Project expense; 3)delays in reaching Milestones due to the requirements of the Program shall not be considered a Developer Default,and the Milestones shall be adjusted as necessary;4)City,DHA and Developer shall share all reports provided to and received from the IEPA for the Program;and 5)City shall be responsible for any damage resulting from activities undertaken by the City for the Program(e.g. if the City contracts for the remediation work directly instead of the Developer, City sha.11 be responsible for work done and any damages associated with such work). 3.1.4 Clean Site. The City shall use its best efforts to demolish any existing buildings and all other physical improvements and infrastructure on the City Parcels which are located on the surface of the City Parcels,with the exception of existing and usable utility and road infiastructure as agreed to by City,DHA and Developer. The City shall use its best efforts to remove and dispose of all debris from the demolition, remove and dispose of all other surface physical obstructions and rough grade buildable azeas of the City Parcels which have been affected by the demolition in a manner which is materially adverse to the development of the Revitalization. In the event that the Developer determines that any of the City Parcels contains unacceptable surface or subsurface obstructions, hazards or debris, Developer or the Owner Entity may, at its election,(1)refuse to accept conveyance of such pazcel or(2)accept conveyance of such parcel and talce such actions as aze necessary to remove such obstructions,hazards or debris. 3.1.5 City Demolition and Remediation. Subject to the provisions of Sections 3.1.2 and 3.1.3 hereof,the City shall ensure that the City's obligations in regazd to the City Parcels to perform all site remediation, demolition, site clearance, removal of rubble and soil, and all restorative site work contemplated under this Agreement are completed in a workmanlike manner and in conformance with all Legal Requirements, including but not limited to those governing the removal of asbestos-containing materials and/or lead based paint. City shall keep DHA and Developer apprised of its progress, and of any conditions it encounters that will impact DHA's or Developer's performance of its obligations hereunder. As of the date on which Developer or the Owner Entity accepts the conveyance of all or any portion of the City Parcels,the City shall certify to Developer or the Owner Entity that such portion of the City Parcels is in Clean and Buildable Condition as such term is defined in Section 3.1 hereof. 3.2 City Infrastructure Obligations. Prior to the initiation of the construction, or the issuance of any building permits for any buildings, streets, water or sewer mains or any other structures or utility infrastructure of any sort anywhere on the Phase II Site and Phase III Site, a complete set of plans therefore, including but not limited to site plans, drawings,engineering and architectural designs and specifications, and landscape designs, including any contracts therefore and costs thereof, shall be submitted by the Developer to the City and approved by the City's Director of Engineering and Infiastructure and the Director of Economic and Urban Development. In accordance with Sections 2.2.2 and 2.3.2,the City shall provide the Phase II Infrastructure Funds and Phase III Infrastructure Funds to finance the Public Infrastructure Improvements for the Phase II Site and the Phase III Site, respectively. DHA sha11 have initial review and approval 18 INDY 1566592v.2