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41. <br /> <br />42. <br /> <br />43. <br /> <br />City pursuant to Section 12.4 is intended, in part, to secure the Developer's <br />performance of itJ obiigations 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 A~eement is hereby amended to read as follows: <br /> <br />11.2 LANDSCAPING ASSOCIATED WITH CITY PHASE II <br /> <br />ROADWAY .hMPROVEMENTS. Subject to Force. Majeure, the <br />Developer must commence the installation of the landscaping described in <br />the Phase ii Landscaping Plan within sixty (60) days of the City's <br />.substantial completion (exclusive of the final lih) of the City Phase <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 fi'om the City's substantial completion (exclusive of the final <br />lift) of the City Phase I1 Roadway Improvements. Notwithstanding the <br />foregoing, if the City substantially completes the City Phase II Roadway <br />Improvements 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 following'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 t. Notwithstanding the foregoing, to the extent that <br />the City constructs the City Phase II Roadway Improvements in one or <br />more phases, the Developer must install the lmldscaping 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 part, to secure the Developer's perforrnance of <br />its obligations under this Section 11.21 Upon the Developer's completion <br />of the landscaping described in the Phase II Landscaping Plan or any <br />portion thereof, the Developer must submit to the City a guaranty as <br />required by the Zoning Ordinance. <br /> <br />The last semence 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 ti-tis First Amendment, the <br />Developer has delivered to the City a Letter of Credit in the amount of <br /> <br />1710652v2 1 8 <br /> <br /> <br />