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WHEREAS, said demolition of the Existing Primary Structure and Accessory Structure <br /> shall be completed within thirty(30) days from the issuance of the Temporary Certificate of <br /> Occupancy; and <br /> WHEREAS, once the Applicants have submitted an as-built survey and the City has <br /> inspected and approved the final grading and landscaping,the City will issue a Final Certificate <br /> of Occupancy to Applicants for the Principal Structure. <br /> NOW,THEREFORE,THE PARTIES TO THIS AGREEMENT AGREE TO THE <br /> FOLLOWING: <br /> 1. Applicants may retain the Existing Primary Structure and the Accessory Structure on the <br /> Subject Property during the completion of the construction of the Principal Structure, <br /> subject to the following conditions: <br /> A) Applicants agree to obtain the necessary building permits for construction of the <br /> Principal Structure. <br /> B) Upon completion of the Principle Structure, Applicants will immediately apply <br /> for a Temporary Certificate of Occupancy, and will pay the City a$10,000 cash <br /> escrow. <br /> C) Applicants agree to complete the demolition and removal of the Existing Primary <br /> Structure and Accessory Structure,within thirty(30) days of the issuance of the <br /> Temporary Certificate of Occupancy for the Principal Structure, and obtain an <br /> inspection and approval by the City. <br /> D) Applicants agree to submit an as-built survey, complete grading and landscaping <br /> and obtain an inspection and approval by the City. <br /> E) If the Applicants fail to (i)perform the demolition and removal obligation of the <br /> Existing Primary Structure and Accessory Structure on the Subject Property; and <br /> (ii) complete grading and landscaping and obtain City inspection and approval, as <br /> set forth in subparagraphs C and D above,the Applicants hereby agree as follows: <br /> 1) The City may enter upon the Subject Property and remove the Existing <br /> Primary Structure and the Accessory Structure; <br /> 2) The City may enter upon the Subject Property and complete grading and <br /> landscaping; <br /> 3) The City may immediately draw upon the Escrow to cover the costs of <br /> removal, grading and landscaping; and <br /> 4) The City may assess any remaining costs of removal, grading and <br /> landscaping to the Subject Property. The Applicants hereby waive all <br /> procedural and substantive objections to the assessment including, but not <br /> limited to,hearing requirements and any claim that the assessment <br /> 2 <br /> 189545v1 <br />