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retainage or (b) the value of the punch list items <br /> remaining to be completed as such value is determined in <br /> the sole reasonable discretion of the City) , within 120 <br /> days following said Substantial Completion Date. Such <br /> payment shall be deemed by the Contractor and City as <br /> prepayment of all Rental Payments due under the Lease and <br /> satisfaction of all payment obligations of the City <br /> thereunder. Amounts held as retainage and security for <br /> completion of the punch list shall be released in <br /> accordance with law upon final completion and final <br /> acceptance of the Facility by the City. <br /> B. In addition to any other conditions set forth in the <br /> bid documents, the tender of any payment to the <br /> Contractor hereunder (excluding the payment of the rent <br /> authorized under Paragraph C hereof) , whether in <br /> accordance with the Lease Financing Transaction or <br /> otherwise, is expressly conditioned upon prior delivery <br /> by Contractor to City, or such third party as the City <br /> may designate, of the following: <br /> 1. Executed lien waivers from Contractor and <br /> all its subcontractors or other paid in the <br /> performance of the work in form and substance <br /> reasonably satisfactory to the City. <br /> 2 . In the event the Lease Financing <br /> Transaction is not concluded, Delivery of a <br /> Deed to the Facility, free and clear of all <br /> liens, encumbrances, exceptions or other <br /> defects except those approved by the City. In <br /> the event the Lease Financing Transaction is <br /> concluded, delivery of the Assignment and Deed <br /> appended to the Ground Lease. <br /> C. Upon occupancy of the Facility by the City pursuant <br /> to Article VI G of the General Conditions, or sixty (60) <br /> days after the Substantial Completion Date, whichever is <br /> sooner, the City shall pay a reasonable rental, including <br /> but not limited to interest expenses. Rent paid pursuant <br /> to this paragraph shall be a separate obligation of the <br /> City payable directly to the Contractor by the City and <br /> shall not be included in the lease payments under the <br /> Lease Financing Transaction. <br /> 2 . In lieu of the Lease Financing Documents set forth in the <br /> Bid documents, the City and Contractor agree to execute the <br /> documents Ground Lease and Lease attached hereto and incorporated <br /> K:\KR\17863-00.003\25AMENDMENT.OUL -2- <br />