Certificates of Occupancy and Certificates of Completion. (a) Upon Completion of Construction of any Phase (or building or unit within such Phase), Redeveloper shall apply to the appropriate Borough construction code official for a Certificate of Occupancy for that Phase (or building or unit within such Phase) as to which construction is Complete. Redeveloper shall take all actions required for issuance of a Certificate of Occupancy and the Borough shall promptly process any applications for same (b) Certificates(s) of Occupancy for each Phase may be sought consistent with the terms of the Settlement Agreement and as set forth in Section 4.4(b). (c) Upon Completion of the East Side Phase, including “start of construction” of the Lake Drive Phase, the Borough, in its reasonable discretion, shall promptly issue Redeveloper a Certificate of Completion for such East Side Phase. The Certificate of Completion may be substantially in the form of Exhibit F. Upon the issuance of the Certificate of Completion, the conditions determined to exist at the time the Property underlying such East Side Phase was determined to be an area in need of redevelopment shall be deemed to no longer exist. The land and improvements comprising such East Side Phase shall no longer be subject to (i) any covenant, pursuant to this Agreement, running with that portion of the land covered by the Certificate of Completion, including without limitation the Declaration of Restrictions (except for those that expressly survive pursuant to the terms of the Declaration of Restrictions), and (ii) eminent domain for purposes of redevelopment as a result of those determinations, if applicable. (d) Upon Completion of the West Side Phase, including Completion of the Lake Drive Phase, the Borough, in its reasonable discretion, shall promptly issue Redeveloper a Certificate of Completion for the West Side Phase. The Certificate of Completion may be substantially in the form of Exhibit F. Upon the issuance of the Certificate of Completion, the conditions determined to exist at the time the Property underlying the West Side Phase was determined to be an area in need of redevelopment shall be deemed to no longer exist. The land and improvements comprising the West Side Phase shall no longer be subject to (i) any covenant, pursuant to this Agreement, running with that portion of the land covered by the Certificate of Completion, including without limitation the Declaration of Restrictions (except for those that expressly survive pursuant to the terms of the Declaration of Restrictions), and (ii) eminent domain for purposes of redevelopment as a result of those determinations, if applicable. (e) Upon Completion of the Lake Drive Phase, the Borough, in its reasonable discretion, shall promptly issue Redeveloper a Certificate of Completion for the Lake Drive Phase. The Certificate of Completion may be substantially in the form of Exhibit F. Upon the issuance of the Certificate of Completion, the conditions determined to exist at the time the Property underlying the Lake Drive Phase was determined to be an area in need of redevelopment shall be deemed to no longer exist. The land and improvements comprising the Lake Drive Phase shall no longer be subject to (i) any covenant, pursuant to this Agreement, running with that portion of the land covered by the Certificate of Completion, including without limitation the Declaration of Restrictions (except for those that expressly survive pursuant to the terms of the Declaration of Restrictions), and (ii) eminent domain for purposes of redevelopment as a result of those determinations, if applicable.
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