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C. CONSTRUCTION OF IMPROVEMENTS <br />Submission of Final Project Budget and Development <br />Schedule. Developer shall submit to Agency/City the final <br />Project Budget and updated construction schedule for the <br />construction of Improvements pursuant to the Agreement. <br />2. Approval of Final Project Budget and Development Schedule. <br />Agency/City shall approve, conditionally approve, or <br />disapprove Developer's Final Project Budget and construction <br />schedule. <br />3. Design Development Drawings. Developer shall prepare and <br />submit Design Development Drawings (as defined in the <br />Agreement) to Agency/City for review and approval. <br />4. Approval of Design Development Drawings. Agency/City <br />shall review and approve, approve with conditions, or <br />disapprove the Design Development Drawings. <br />As a Condition Precedent to <br />disbursement of any portion of <br />the Loans. <br />Within ten (10) business days <br />after receipt of a complete <br />submittal of the Final Project <br />Budget and construction <br />schedule and as a Condition <br />Precedent to disbursement of <br />any portion of the Loans. <br />Completed. <br />Within thirty (30) days of <br />Developer's complete <br />submittal of the Design <br />Development Drawings. <br />5. Revision to Design Development Drawings. Developer shall Within fourteen (14) days of <br />revise and resubmit Design Development Drawings to address conditional approval or <br />conditions or disapproval to the satisfaction of Agency/City. disapproval. <br />6. Management Plan. Developer shall submit its proposed <br />Management Plan to Agency/City for review and approval. <br />7. Approval of Management Plan. Agency/City shall review and <br />approve, approve with conditions, or disapprove the <br />Management Plan. <br />8. Revision to Management Plan. Developer shall revise <br />Management Plan if conditionally approved or disapproved by <br />Agency/City. <br />Within ninety (90) days after <br />Developer receives an <br />allocation of tax exempt bond <br />financing from CDLAC and an <br />allocation of Tax Credits from <br />TCAC. <br />Within ninety (90) days of <br />Developer's receipt of an <br />allocation of tax exempt bond <br />financing for the Project from <br />CDLAC and an allocation of <br />Tax Credits for the Project <br />from TCAC. <br />Within fourteen (14) days of <br />receipt of disapproved <br />Management Plan from <br />Agency/City. <br />J-2 <br />DOCSOC/ 1469583 v5/200272-0003