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Site and be developed i n conjunction with Phase R-1. In the event that the Agency fails to acquire the Segura Parcels on or before September 15, 2010 (if Developer is awarded a re s ervation of Tax Cred i is for Ph ase - f in the se c and Tax Credi t r u nd o f 20 10, and of herw i se forty-five 4 days prior to submission date of a Tax Credit application to TCAC for Phase -1 if Developer does not receive reservation of Tax Credits in the second round of 2010, as all such dates may be extended by a CEQA challenge), the Developer shall redesign Phase -1 excluding the Segura Parcels, in which event Developer's oblicPations with respect to Phase R-1 shall be extended by the time necessary for such redesign. 209. Separate Phases. The par-ties acknowledge and agree that Phase -1, Phase R-2 and Phase FS may be separately owned, financed and developed, and that, in the event of the separate ownership of the Phases, a Default under this Agreement relating t one Phase, the applicable Phase Regulatory Agreement, applicable Phase Promissory Dote or Agency Deed of Trust shall not be considered a Default relating to any other Phase: in other words, there shall he no cross-defaults between Phases or between the ownership entities for each P h s . If such separation occurs, the owner of Phase -1 shall be solely and exclusively responsible for the Phase -1 rights and obligations under this Agreement, the owner of Phase R-2 shall he solely and exclusively responsible for the Phase R-2 rights and obligations under this Agreement, and the owner of Phase FS shall be solely and exclusively responsible for the Phase FS rights and obligations under this Agreement. 210* Timing of Agency Obligations. With respect to the Segura Parcels, the Agency shall, within one hundred twenty (1 20) days of acquisition of each such parcels, cause each of the following to occur (collectively, the "'Agrency Site Obligations"): relocate all tenants and other inhabitants thereof in accordance with all existinor federal, state and local laws, b cause such p arc e 1 to be free of all Site Improvements, and c complete r mediation of any Hazardous Materials it is required to ren d i ate in accordance i th the terms of this Agreement. With respect to the Aaency Parcels, the Agency shall complete the Agency Si to Obligations within sixty days for Phase -1 and within ninety 0 days for Phase R-2 and Phase FS of the earlier to occur of expiration of the thirty o day period following the Date of Agreement within which a CEQA Challenge may be initiated or resolution of any CEQA Challenge. With respect to the Additional Properties, the Agency shall, within one hundred fifty 1 days of acquisition of each of such Additional Properties, cause each of the Agency Site Obligations to occur. 300. DEVELOPMENT T T PROJECT. 01. Developer's Obligation to Construct Developer Improvements-9 Scope of Development. The Developer shall construct each Phase of the Developer Improvements substantially in accordance with the Land Use Approvals, the Scope of Development and the plans, drawings and documents submitted by the Developer and approved by the Agency as set forth herein. 302. Design Review. 302.1 Conceptual Site Plan. Concurrently with ap rov t of this Agreement,, the Developer has submitted and the Agency has approved proved one ep to al drag ings for the Developer DOCSOU 1 400673 v 14/20027 -0001