Reso 2010-1658 - Laserfiche WebLink

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(ii) The design services contract(s) and construction contract(s) referred to in Sections 11 and 12 above, based upon the Final Plans and Specifications approved by the Landlord, with any change orders as of the start of construction; (iii) Evidence that the Contractor will perform satisfactorily, including, a completions guaranty by the parent corporation of Tenant or a lien bond and a performance and payment surety bond whichever shall be required by an Approved First Mortgagee other than Affiliate. If an Approved First Mortgagee requires a completion guaranty, such guaranty shall be in a form satisfactory to such Approved First Mortgagee and the Landlord shall be entitled to a completion guaranty in substantially the same form. If an Approved First Mortgagee requires a lien bond and a performance and surety bond, then such bonds shall be in a form satisfactory to such Approved First Mortgagee and shall be issues with the Contractor as principal and the Tenant, the Approved First Mortgagee and the Landlord as beneficiaries, as their respective interests may appear. The amount of said bonds shall not be less than the full amount of the construction contracts with the Contractor. If the holder(s) of any mortgagees) require(s) additional bonds in a greater amount than is required pursuant to this subsection, the Landlord shall appear as an oblige on said bonds, as its interest may appear. If the Landlord is the Approved First Mortgagee or if the Approved First Mortgagee is an Affiliate then the Landlord shall determine whether or not it will require a completion guaranty or bonds: (iv) Evidence reasonably satisfactory to the Landlord that the Tenant has the equity capital and final commitments for mortgage or other financing adequate for the construction of the approved Improvements or Major Alterations; and (v) All licenses, permits, approvals, certificates and all other necessary or appropriate actions of any Federal, State, or City authorities required to enable leasing, construction, maintenance, operation and use of the Improvements or Major Alterations in accordance with the Final Plans and Specifications approved by the Landlord and reasonably obtainable given the status of the Project; provided that the Landlord shall within 30 days of its receipt thereof, review and approve or give its reasons for its disapproval of any document prepared and submitted by the Tenant describing all such licenses, permits, approvals, certificates, environmental reviews and other actions which the Tenant intends to deliver and the delivery of documentation evidencing compliance with each item on such a submittal shall conclusively be deemed to satisfy this provision; and (vi) Building permits for the Aquatic Entertainment Center or Major Alterations for which construction is proposed to commence based upon the Final Plans and Specifications approved by the Landlord which permits shall conclusively be deemed to be satisfactory evidence that such portion complies with applicable zoning and building code requirements. Section 14. Arbitration of Design Disputes. If either party believes the other party is being unreasonable in its position with respect to any substantial issue of design during the design and development review process established in this Article VI, and a reasonable attempt has been made to resolve said issue between the parties, said party may submit the issue for final determination by a panel of arbitrators by giving notice thereof of the other party. Within ten 14 U:\City Attorney\HANS\20 1 0 Documents\4m Investors\GROUND LEASE WORKING DRAFT 11.16.1 O.doc