Resolution 5871 - Laserfiche WebLink

furnish OM with a written statement of the reasons the City has refused or failed to furnish such a Certificate of Completion. Except to the extent the City issues a Final Certificate of Completion without the Development having obtained a Silver LEED certification as described in Section 16.2.1(D) above and Section 17.2, a Partial or Final Certificate of Completion shall constitute evidence of OM's compliance with all of the terms of this Agreement as they relate to the requirements set forth herein for the issuance of the Partial or Final Certificate, but shall not constitute evidence of compliance with any regulatory requirement or other requirement of applicable law, or satisfaction of any obligation of OM to any holder of a mortgage or any insurer of a mortgage securing money loaned to finance the improvements or any part thereof. A Partial or Final Certificate of Completion is not a notice of completion as referred to under any laws of the State of Washington or the Code, rule, regulation or requirement of the City of Everett. A Partial or Final Certificate of Completion shall serve to release the portion of the City Property Described therein from the application of the remedies set forth in Section 17.1 below, subject to the limitation described in Section 16.2.1(D) above and Section 17.2. A Partial Certificate of Completion shall not extend beyond the specific property comprising the relevant development phase for which the Certificate is being requested and OM and the City recognize and acknowledge that boundary line adjustments may be necessary to have the portion of the City Property described in the Certificate of Completion correspond to the dimensions of the relevant development phase. (b) Certificates of Partial Completion for the Simpson Site When (i) OM imposes design guidelines and requirements, a development plan or other covenants on the Simpson Site that are otherwise consistent with the Development Plan, which guidelines are reasonably acceptable to the City and may not be materially changed without the consent of the City, which will not be unreasonably withheld, and (ii) provided OM is in compliance with this Agreement, then the City will provide a Partial Certificate of Completion to OM for the portion of the Simpson Site comprising the initial residential phase, which phase shall not exceed half of the buildable area of the Simpson Site(the"Initial Residential Phase"). In addition, when and if(x) OM constructs or provides assurances reasonably acceptable to the City for the construction of the Main Road and the associated Wet and Gas Utilities as provided for in Section 16.4 below, and (y) provided OM has imposed the design guidelines and requirements on the Simpson Site described in the preceding sentence and OM is in compliance with this Agreement, then the City will provide a Partial Certificate of Completion to OM for the remainder of the Simpson Site. Such Partial Certificates of Completion for the Simpson Site shall release the relevant portions of the Simpson Site from the remedies set forth in Section 17.1 below. (c) Certificate of Partial Completion for the Landfill Site When (i) OM imposes design guidelines and requirements, a development plan or other covenants on the Landfill Site that are otherwise consistent with the Development Plan, which guidelines are reasonably acceptable to the City and may not be materially changed without the consent of the City, which will not be unreasonably withheld, (ii) a Minimum Retail Element proposal has been approved by the City, and (iii) OM is in compliance with this Agreement, then the City will provide a Partial Certificate of Completion to OM for the portion of the Landfill Site that is the subject of the approved Minimum Retail Element, reserving from the Partial -27- 06107-0063'LEGA L 13023969.I