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<br />13. The parties can terminate the lease if the Developer is not able to obtain construction <br />financing for the Aquatic Center. <br /> <br />14. The parties can terminate the Lease if the Developer is not able to retain an <br />Acceptable Vendor to operate the Aquatic Center. <br /> <br />15. The City will have the right to terminate the agreement if the construction plans and <br />specifications presented by the Developer at the 30%, 50%, and 90% design stages do <br />not provide the City with the expected quality and appropriate amenities for the <br />garage or park. <br /> <br />Develooment A2reement <br /> <br />The terms and provisions of the ground lease shall be the basis for the rights and obligations of <br />the parties. However, in order to fully develop the Project, the City and Developer are also <br />required to enter into a separate Development Agreement. The salient features of the <br />Development Agreement include the following: <br /> <br />1. Developer shall be responsible for obtaining all approvals, including permits and <br />fees from all government entities. However, the City shall waive all permit fees <br />charged by the City for the development of the Project. <br /> <br />2. Developer shall be responsible for constructing the Project, which includes the <br />park, parking garage and Aquatic Entertainment Center. <br /> <br />3. Developer shall be responsible for obtaining all development approvals from the <br />City and other governmental agencies. <br /> <br />4. The City and Developer are required to enter into a Design/Build Agreement for <br />the construction of the park and parking garage. <br /> <br />5. Developer shall enter into a Declaration of Covenants and Restrictions to <br />facilitate the construction and operation of the Project. <br /> <br />6. The parties agrees that time is of the essence and that Developer shall be required <br />to follow a Developer's Schedule, which provides dates and times of delivery of <br />the various plans, preparation and filing of applications for, and obtaining the <br />various permits and public approvals and schedule for the construction of the <br />improvements. <br /> <br />7. Developer agrees that the Project shall be completed no later than December 1, <br />2013. <br /> <br />8. Developer is required to demonstrate its financial capacity to the City and shall <br />provide proof of developer funding to complete the Project. <br />