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[DRAFT] <br /> <br />described in Section 7.11 or. commence the construction of the City Phase II Roadway <br />Improvements until: ; <br /> <br />(a) <br /> <br />The Developer has dedicated to the City all rights-of-way upon which the City <br />Phase II Roadway Improvements are to be constructed including, but not limited <br />to, the right of way for the portion of the proposed Town Center No (sometimes <br />referred to as Variolite located north of Bunker Lake Boulevard which right of <br />way Developer does not currently own or control; and <br /> <br />(b) <br /> <br />The Developer or the Developer's successors and assigns shall have completed the <br />construction of improvements on property within the TC-1, TC-2 and TC-3 <br />Zoning Districts which improvements have, in the reasonable opinion of the City, <br />an assessed value for real estate tax purposes of $.~v,,,w,,,v,,25,000,000 or more <br /> <br /> ............................................................ .~. or oses <br />determining whether or not improvements with an assessed value of <br />$~,v~,~9025,000,000 have been constructed, the City shall include the assessed <br />value of all improvements constructed in the TC-1, TC-2 and TC-3 Zoning <br />........ D~stncts including improvements which are located on property which is <br />exempt from real estate taxes; and <br /> <br />;a'~ T~,~ n .... ~ .....k~, ~, .... a~. ..... awho Develo er shall have delivered to the <br />City, prior to the r-;,, <br /> _. ._~.,; a !e~e,-Sssuance of cma,2tany required City permits, a Letter <br />of Credit, or alternative security authorized under Section 12.4, in an amount <br />equal to 125% ofth.e City~'s estimate of the cost of the current portion of <br />the Phase II Landscape Improvements as described in the <br /> <br />The Developer shall have provided the Ci.ty with a detailed landscaping, plan <br />specifically describing the landscaping which the Developer will perform within <br />or adjacent to the rights-of-way of the City. Phase II Roadway Improvements (the <br />"Phase II Landscape Plan"). The Phase II Landscape Plan must identify a <br />commencement date for the Developer's performance of the work described in the <br />Phase II Landscape Plan. The commencement date may be stated as a number of <br />days following the City's substantial completion of the City Phase II Roadway <br />Improvements (exclusive of the installation of the final lift). The Phase II <br /> <br />Landscape Plan must also establish a specific completion date for the Developer's <br />performance of the work described in the Phase II Landscape Plan. The <br /> <br />completion date may be stated as a number of days from the commencement date. <br /> <br />7.9 <br /> <br />The Developer will not be deemed to have satisfied this condition subsequent <br /> <br />until the City has approved the Phase II Landscape Plan. <br /> <br />COMMENCE~NT AND COMPLETION OF PHASE It CONSTRUCTION. <br /> <br />Subject to Force Majeure, the City must commence construction of the City Phase II Roadway <br />Improvements within __ days after the Developer's satisfaction of the contingencies described <br />in Section 7.8 above. Subject to Force Majeure, the City must substantially complete <br /> <br /> <br />