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44.
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<br />45.
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<br />46.
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<br />47.
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<br />48.
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<br />1710652v6
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<br />performed all of the Obligations the Letter of Credit secures and the City
<br />has inspected and: accepted any work.
<br />
<br />Section 15.1 of the Master Agreement is hereby amended as folloWs:
<br />
<br /> (a) :The introductory clause :of the third sentence of Section 15.1, which reads
<br />"if the Developer fails t° perform one oLmore of its obligations in Sections 4.12, 7.6, 7.7,
<br />7.12, 7.13, 9.6, 9.7, 12.3, 12.4, !3.1,: 13.2 and 15.1(e)," is hereby revised to read as
<br />follows:
<br />
<br /> If the Developer fails to perform one or more of its obligations under
<br /> Sections 4.12, 7.6, 7.12, 7~16, 9.2, 12.3, 12.4, 13.1, 13.2 or 15.1(e),
<br />
<br /> (b) Section 15.1 (f).is revised to read as follows:
<br />
<br /> (f) If the DeveloPerts default is the failure to perform one or more of
<br /> its monetary obligations under!Section 4.12, 7.6, 7.12, 7.16, 9.2, 12.3,
<br /> 13.1, 13.2, 15.1(e) or 15.1(e), the City may commence an action against
<br /> the Developer for monetary damages.
<br />
<br />Section 15.3 is hereby amended as follows:
<br />
<br /> (a)
<br />following:
<br />
<br />Section 15.3(a) is hereby deleted in its entirety and replaced with the
<br />
<br />(b)
<br />
<br />(a) Failure by the Developer to convey to the City the City Hall and
<br />Parking Ramp SiteS, as required by Section 5.1; or
<br />
<br />gection 15i3(d)is revised to read as follows:
<br />
<br />(d) FailUre by thee Developer to perform the obligations placed on it by
<br />Sections 3~3, 4.12, 7.6, 7.12, 7.16, 9.2, 12.3, 12.4, 13.1, 13.2, 14, and
<br />15.1 (e) of this Master Agreement.
<br />
<br />New Exhibits F,l, M, N, O and P in the form attached hereto, are hereby made a part of
<br />the Master Agreement.
<br />
<br />Exhibit B of the Master Agreement is l~ereby deleted in its entirety and replaced with the
<br />Amended and Restated EXhibit B aflached hereto.
<br />
<br />This First Amendment maY be executed in coUnterparts. This First Amendment is not
<br />effective until the City, the Devel,oPer Ramdance and PSD have executed this First
<br />Amendment; the Developer's Mortgagees, Community National Bank, N.A.; William G.
<br />Sandison, Jerome B. Peterson and Ross iW. Sandison; and Pentagon Credit, LLC have
<br />consented to andagreed that their interests in the Subject prOperty are subject to this First
<br />Amendment. When all SUch parties have executed this First Amendment, separately
<br />executed counterparts may bel assembled into a single fully executed original. PCS
<br />Building Company, the Owner of Lot 1, Block 1 RAMSEY TOWN CENTER
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<br />20
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