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41. <br /> <br />42. <br /> <br />43. <br /> <br />City pursuant to Section 12.4 is imended, in part, to secure the Developer's <br />performance of it~ obligations under this Section 11.1, Upon the <br />Developer's completion of the landscaping described in the Phase I <br />Landscaping Plan, the Developer must submit to the City a guaranty as <br />required by the Zoning Ordinance. <br /> <br />Section 11.2 of the Master Agreement is hereby amended to read as follows: <br /> <br />11.2 LANDSCAPING ASSOCIATED WITH CiTY PHASE II <br /> <br />ROADWAY IMPROVEMENTS. Subject to Force Majeure, the <br />Developer must COl-nn~ence the installation of the lar~dscaping described in <br />the Phase II Landscaping Plan within sixty (60) days of the City's <br />substantial completion (excLusive of the final lift) of the .City Phase II <br />Roadway Improvements and must complete the installation of the <br />landscaping described in the Phase II Landscaping Plan on or before the <br />date 180 days from the City's substantial completion (exclusive of the final <br />lift) of the City Phase II Roadway Improvements. Notwithstanding the <br />foregoing, if the City substantially completes the City Phase II Roadway <br />hnprovements between November 1 of any year and May 1 of the <br />following year, the Developer is not obligated to commence the <br />installation of the landscaping described in the Phase II Landscaping Plan <br />until the fbllowing May 1 and is not obligated to complete the installation <br />of the landscaping described in the Phase II Landscaping Plan until the <br />following September 1. Notwithstanding the foregoing, to the extent that <br />the City donstn~cts the City Phase II Roadway hnprovements in one or <br />more phases, the Developer must install the landscaping described in the <br />Phase II Landscaping Plan that relates to each phase of the City Phase II <br />-Roadway Improvements within the time periods described in this Section <br />11.2. The Letter of Credit the Developer delivers to the City pursuant to <br />Section.12.4 is intended, in pat1, to secure the Developer's performance of <br />its obligations under this Section 11.2. Upon the Developer's completion <br />of the landscaping described in the Phase II Landscaping Plan or any <br />p6rtion thereof, the Developer must submit to the City a guaranty as <br />required by the Zoning Ordinance. <br /> <br />The last sentence of Section 12.3 of the Master Agreement is hereby deleted in its <br />entirety and replaced with the following: <br /> <br />The Letter of Credit the Developer delivers to the City pursuant to Section <br />12.4 is intended, in part, to secure the Developer's performance of its <br />obligations under this Section 12.3. <br /> <br />Section 12.4 of the Master Agreement is hereby amended to read as follows: <br /> <br />12.4 LETTERS OF CREDIT AND ALTERNATIVE SECURITY. <br /> <br />Contemporaneously with the execution of this First Amendment, the <br />Developer has delivered to the City a Letter of Credit in the amount of <br /> <br />-24- <br /> <br />1710652v2 <br /> <br />18 <br /> <br /> <br />