Common use of Construction and Operation of the Project Clause in Contracts

Construction and Operation of the Project. (a) The Developer shall have a period of sixty (60) days from the later of the execution of this Agreement or the Commission’s acquisition of the Property, or until the Property Closing if sooner, to satisfy any concerns it may have relative to zoning or land use, drainage, permits, environmental conditions, access, utilities, or any other matters related to the feasibility of the Project (collectively, “Contingencies”). In the event the Developer determines that it is not satisfied as to any Contingencies prior to the expiration of such period, the Developer shall notify the Town Parties and may terminate this Agreement, and the parties shall have no further rights or obligations under this Agreement. (b) The Developer shall complete the Project on the Property in accordance with all applicable permits and approvals to be issued by applicable government officials and bodies (e.g., the Town Building Commissioner). The total cost of the Project shall equal or exceed the Project Investment, without including any cost of the Town Incentives. The Project shall be substantially in operation within two (2) years following the Closing, or such later date as may be agreed to by the Town Parties in writing (the “Completion Date”). The Developer is responsible for providing or arranging to provide for the funding of all costs to complete the Project. Such funding and cost is separate and apart from the costs of the Town Incentives to be provided by the Town Parties. The Project shall consist of the items and/or parameters set forth in Exhibit B attached hereto which the Developer shall cause to be constructed on the Property as described in Exhibit A. The total cost of the Project Investment shall not be less than $ , 000,000. The Developer further covenants that it will utilize the Property as its central region headquarters, and other incidental or related uses, in a manner consistent with the Project as described in Exhibit B for a period of at least ten (10) years following Completion Date. (c) The Developer shall commence construction of the Project by no later than one- hundred eighty (180) days from the date of Property Closing. (d) Developer shall obtain or shall have determined that it is able to obtain all necessary permits, licenses, approvals and consents required by law for the construction and use of the Project prior to the Property Closing. (e) For so long as the Property is owned and/or operated by Developer, the Developer agrees to: (i) identify the regional headquarters as located in or a part of the Whitestown community, in any advertisement or literature in which the location of the Project is provided;