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[DRAFT] <br /> <br />r ....... ~PHASING OF STRUCTURED PARKING. The Master Development plan <br /> <br />contemplates the construction of three ramps within the TC-1 Zoni~.,o District (referred to <br />herein individuall~ as "Ramp 1, Ramp 2 and Ramp 3 and collectively as the "Ramps")_. <br />The CiD' estimates that the cost of constructing Ramp 1 is $11,000~000; the cost of <br />_constructing Ramp 2 is $6,000,000 and the cost of eoustructin~o Ramp 3 is $S,000,000. 'The <br />portion of the Master Development Plan that depicts the size and location of Ramp 1, <br />Ramp 2 and_ Ramp $ will control the location and design of Ramp 1, Ramp 2 and Ramp $ <br />unless the Developer and the Cit3,, in an amendment to this Master A~reement or the City <br />and a Secondary Developer. in a Secondary Development A~reement. agreed to modify the <br />des_ig_n_ or location of Ramp 1. Ramp 2 or Ramp 3. <br /> <br />c~,,~, .....~ ..... :. . · ~ c ...... :c.~ :_c .... ,:^~ ~:-- ~ ....... :" .....:a"'DESIGN.AND <br />CONSTRUCTION OF STRUCTURED PARKING - DEVELOPER INITIATIVE. The <br /> <br />Developer max, by formal notice to the CID', obligate the CiW to commence design and <br />construction of one or more of the Ramps upon the Developer's satisfaction of the following <br />conditions precedent: <br /> <br />The Developer's submission to the Cih' and the City's approval, for purposes <br />of this Section 9. only, of preliminary Secondary Development Plans for <br />the development of a Phase within the TC-1 Zonin~ District which will rely <br />for p_arkino~ upon the Ramp or Ramps referenced in the Developer's Formal <br />Notice; <br /> <br />The Developer's conveyance to the City of marketable fee title to the portion <br /> <br />of the Subject Propert), upon which the Ramp referenced in the Developer's <br />Formal Notice is to be constructed if the Cit~, does not already own the <br /> <br />pro_pert3.,. The Developer must convey the required property to the CiD, via <br />Warranty Deed. The Developer must pay all state deed tax due on the <br />conveyance of the Property to the Citw and must pay or provide for the <br />payment of all real estate taxes and special assessments levied or pendin~ <br />a_~oainst the Property (iucludin~ special assessments pendin~ a~ainst the <br />Propert3.~ pursuant to the terms of this Master A~reement) as of the date of <br />closing whether or not such taxes or assessments are currently due.and <br /> <br />payable. Title to the Propert3., must be marketable, subject to only public <br />ut~ilit3., easements which will not interfere with the development of the <br /> <br />1555730.red <br />V$ tp V6: <br />8/29/03 <br /> <br />29 <br /> <br /> <br />