STATION DIST DDA WITH CRA - Laserfiche WebLink

Home Browse Search

for those Phases of the Site which it has not yet Conveyed to the Developer. Agency may reserve a reasonable portion of the Remedial work Expenditure Cap as necessary to fund the cost for potential Remedial Work for those other Phases. Agency shall give notice to Developer and Escrow Agent of such election and Developer"s notice to terminate shall b ineffective; provided, however} that Developer has approved of the scope of the Remedial Work and the RAP prior to the commencement of such work. If Agency makes Agency's Election to Remediate, then within a reasonable period after giving notice to Developer that it intends to proceed with reme d iation of the Site, Agency shall deliver to Developer for Developer's approval a proposed remedial a tion plan ("RAP") prepared by Agency's Environmental Consultant 'C.A n ',s Environmental Consultant"), which RAP shall b e approved by the public agency asserting jurisdiction over the remedial work to be performed pu rsu ant to the RAP (the "'Remedial work}'). The Remedial Work shall assure the suitability of the Site for the development, o u p a.n and operation of the Project and shall be performed in accordance with applicable Governmental Requirements and Environmental maws, and shall he conducted in accordance with the requirements of Health and Safety Code Section 33459, et seq. , in a manner which is intended to qualify for the immunity which is provided by Health and Safety Code Section 33459.3. Upon making Agency's Election to em dint and receiving Developer's approval of the RAP and the scope of the Remedial work, Agency shall cause the Remedial Work to be performed and completed continuously and diligently. Agency's compliance with the provisions of this Section, and the issuance o f a letter, rti f-i ate or other official writing by all governmental agencies which have asserted jurisdiction over the rernediati n of the Site, which provides that no further investigation, monitoring, r mediation, response or removal is currently necessary considering the development, o c u p an y and operation of the Project `'No Further Action Letter"), and confirmation of the completion of the Remedial work by Developer's Environmental Consultant, shall each he a Developer's Condition Precedent to the Closing for the applicable Phase and the Outside Closing Date for such Phase shall be extended until such conditions are satisfied. Tip on completion o f the Remedial work, Agency shall deliver to Developer a certificate executed by the Agency's Environmental Consultant that the Remedial Work has been completed in accordance with all applicable laws. Notwithstanding the foregoing, if Developer, based upon Developer's Environmental Site Assessment, Agency's Environmental Site Assessment and the RAP, reasonably timat s that the Remedial work cannot he completed within ten 10 w e ks } then Developer may tern- i n a to the Escrow and this Agreement by written notice to Agency; provided, that such termination shall not apply to any Phase that has Closed prior to the date of such termination. Each date for performan e e under this Agreement and the Schedule of Performance shall be extended on a day-for-day basis for each d a of delay as a result of the Remedial work. As an alternative to Agency causing the performance of the Remedial work pursuant to this Section, Developer may, at its sole and absolute discretion, propose C`Dev eloper' s Remediation Proposal" that D v lop er perform, or have performed, the Remedial Work by written notice to Agency accompanied by an estimate of the cost of performing the Remedial work ("Developer's Remedial work Estimate"'). In the event that Developers Remedial work Estimate is less th are the Remedial work Expenditure Cap, Agency shall elect to M IOO 1 473 v 1 4/2002 7 2 -000 1