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Planning and Building Agency shall <br />approve or disapprove the revisions <br />submitted by the Developer, and <br />Developer shall be ready to obtain <br />building permits, provided that the <br />revisions necessary to accommodate <br />the Planning and Building Agency's <br />comments have been made. <br />Planning and Building Agency will use best <br />reasonable efforts to approve or disapprove <br />any final revisions. <br />III. FINANCING AND HOTEL COMMITMENT <br />13. Proof of Financing Commitments. <br />Developer shall submit Proof of <br />Financing Commitments for all of the <br />Developer Improvements to City. <br />Within 90 days of approval of construction <br />drawings. <br />14. Proof of Hotel Operator <br />Within 90 days of approval of construction <br />Commitment. <br />drawings. <br />Developer shall submit proof of hotel <br />operator commitment to City or shall <br />provide proof of sufficient financing to <br />implement the Alternative <br />Management Plan <br />15. Financing for Public Improvements. <br />Within 90 days of receipt of Developer proof <br />City shall provide Proof of financing <br />of financing. <br />commitments for Public <br />Improvements <br />V.CONVEYANCE <br />16. Opening of Escrow. The City shall <br />Within 60 days of receipt of Developer proof <br />open an Escrow with an Escrow <br />of financing. <br />Agent. <br />17. Conditions Precedent. Developer and <br />Within 90 days of opening of escrow. <br />City satisfy all of their respective pre - <br />closing conditions. <br />18. Demolition Schedule. Developer and <br />Prior to close of escrow. <br />City shall agree on an acceptable <br />demolition schedule based upon <br />Contractors' schedule <br />19. Close of Escrow for the <br />Within 90 days from all conditions being <br />Conveyances. City conveys the Site <br />satisfied by both parties. <br />subject to the Grant Deed in Exhibit C <br />Exhibit `B" <br />Performance Schedule <br />55394.00049\33239203.12 <br />75A-271 <br />