HUMPHRIES, VALERIE R. - Laserfiche WebLink

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the estimate therefor. In the event that such bid exceeds such sum, City and Agency shall have the right, after consultation with the Association, to modify the scope of work in whatever way is reasonably required in order to obtain a bid within such limits as described in Exhibit "D". Not withstanding the foregoing, the City and Agency hereby covenant and agree that the final investment in the Publicly Funded Improvements shall be at least $1,500,000. (b) Inspection Completed. It shall be a condition precedent for the benefit of the City and the Agency to their obligation to commence to cause the Publicly Funded Improvements to be made that 34 of the Properties subject to an OPA shall have been inspected by Agency in accordance with Section 4.1 above, subject to scheduling requirements previously specified in Sections 4.1 and 4.5 above. If an owner carulot meet this obligation, the Owner may apply to the Agency's Executive Director for all extension, citing extenuating circumstances that delays inspections being completed. It is up to the discretion of the Agency's Executive Director to grant an extension for building inspections. If owner is not in compliance, within six (6) months following Implementation Date, then owner may be subject to fines, to be determined by the Association. 5.3 Consent and Comment. Owner hereby consents to the Publicly Funded Improvements and hereby grants permission to Agency, City and their contractors, agents and assigns to enter Owner's Property for the purpose of making the Publicly Funded Improvements. Owner finther agrees to grant to Agency, City, and the Association such easements as each may reasonably require for the Publicly Funded Improvements, including, without limitation, for the installation and maintenance thereof. The Owner shall have the right to review engineering plans for areas in front of, on, and behind the Property. Owner may request provisions be made for future drainage system to be install by Owner if economically feasible. 5.4 Termination for Non -Performance. If the Publicly Funded Improvements have not been commenced within two (2) years of the Implementation Date, Owner may terminate this Agreement and be released from the CC&R's upon ninety (90) days notice to the City and Agency. If the City and Agency fail to corm -hence the Publicly Funded Improvements after such notice, and the Owner so chooses to terminate this Agreement, the City and Agency shall consent to any necessary amendments to the CC&R's necessary to release owner therefrom. 6. FACADE AND COURTYARD IMPROVEMENT PROGRAM. As hereinafter more particularly provided, the parties agree that, subject to the conditions set forth in Section 6.3 below, a "Facade and Courtyard Improvement Program" for the Properties will be implemented. The parties hereby acknowledge that conceptual plans have been prepared for Facade and Courtyard improvements to the Properties and that such plans are on file with the Agency. A general description of the Facade and Courtyard improvements is attached hereto as Exhibit "G". Work on the Facade and Courtyard Improvements shall commence not later than the first (1st) anniversary of the Implementation Date and shall be completed not later than the third (3rd) am-tiversary of the Implementation Date 6.1 Facade and Courtyard Improvement Loans. The cost of the Facade and Courtyard Improvement Program will be funded in the form of conditional loans to each Owner 11