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2695614v62 <br />1412/297/10 <br />ARTICLE V <br />DEVELOPER'S CONSTRUCTION OF THE MINIMUM IMPROVEMENTS <br />Section 5.1 Required Approvals. Developer <br />must obtain, in a timely manner, any governmental <br />permits, licenses, approvals, consents or authorizations <br />that are legally required in connection with the <br />construction of the Minimum Improvements. <br />Section 5.2 Submission of Construction Plans. <br />Developer must submit Construction Plans to the City <br />for review and approval or disapproval on or before <br />April 1, 2011. The Construction Plans must (a) provide <br />for the construction of the Minimum Improvements on <br />the Development Property and (b) must include at least <br />the following: (1) a site plan; (2) a foundation plan; (3) <br />a basement plan; (4) a floor plan for each floor; (5) cross <br />sections of each floor (length and width); (6) elevations <br />(all sides); (7) grading and drainage plans; and (8) a <br />landscape plan. <br />Section 5.3 Review of the Construction Plans. <br />The City must approve the Construction Plans in writing <br />if: (a) the Construction Plans conform to the terms and <br />conditions of this Agreement; (b) the Construction Plans <br />conform to all applicable federal, state and local laws, <br />ordinances, rules and regulations; (c) the Construction <br />Plans are adequate for purposes of this Agreement to <br />provide for the construction of the Minimum <br />Improvements; and (d) no Event of Default under the <br />terms of this Agreement has occurred; provided, <br />however, that any such approval of the Construction <br />Plans pursuant to this Section 5.3 constitutes approval <br />for the purposes of this Agreement only and shall not be <br />deemed to constitute approval or waiver by the City with <br />respect to any building, zoning or other ordinances or <br />regulations of the City. If the City rejects the <br />Construction Plans the City must notify Developer, in <br />writing, within thirty (30) days after Developer's <br />submission of Construction Plans that satisfy the <br />requirements of Section 5.2 or the City shall be deemed <br />to have been approved the Construction Plans as <br />submitted. If the City notifies Developer that the City is <br />rejecting the Construction Plans, the notice must include <br />a written statement specifying the respects in which the <br />Construction Plans submitted by Developer fail to <br />9 <br />