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the Developer. The Developer and the City agree to use their best efforts to cooperate <br />and assist in the construction of said Improvements including, but not limited to, <br />obtaining Coy the City)/granting Coy the Developer) any easements (including temporary <br />construction easements) as may be necessary or appropriate for the construction of the <br />Improvements. In addition, upon request from the Developer, electric service for the <br />Project shall be provided by the City at a capacity sufficient for the Project acceptable to <br />the Developen Pursuant to such, the Developer agrees that it shall purchase all electric <br />power from the City. <br /> <br /> (e) Commencement Dates. The MOU provides that this Agreement will set <br />forth a mutually acceptable "Commencement Date" for the Grants. The parties agree that <br />the "Commencement Date" for the five-year period for the Grants shall begin with the <br />first calendar [fiscal] quarter following the Developers' written notice to the City and the <br />County; provided, however, that the period for the Developer to make such an election <br />shall expire (or shall be deemed delivered as provided in the following sentence) tWelve <br />(12) months after the "Grand Opening" of the Project to the public ("Grand Opening" <br />shall mean the date on which the hotel/conference center is opened to the public with the <br />300 rooms for occupancy in the Project and provides public notice of the "Grand <br />Opening" date). In the event that the Developer fails to deliver such notice w/thin said <br />12-month period, it shall be deemed that the Commencement Date is the first day of the <br />first calendar [fiscal] quarter after expiration of said 12-month period. The grants shall <br />not exceed five (5) years in length and the grant period will be completed not later than <br />seven (7) years after its award (date of action on agreement by the County) to allow for <br />construction and business start-up. Commencement, or start-up for the construction of <br />the project shall occur not later than one (1) year from the date of approval of the grant <br /> <br />Filename - S'~PlanningXlneentive Grant Agreement.doc - 6 - Revised 12/18/98 <br /> <br /> <br />