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SEF'.19.1997 11~~EA~ <br />N0.~52 P.SiS <br />~ ~~Re ail I'acilities" means the Pro'ect Improvements ]ocated on the vana e ro erl' <br />1.46 t <br />desctt e in t e ondominium ocumenGs, which shall include s~ace suicable ~or use as retai <br />aci ines, <br />1.4? "Schedule of Performance" shall mea.n the docu~ent attached hereCo as Exllibit F. <br />1.45 "Substantielly Cannplete" and "S~bstar~~al Campletio~-" $hall mean that construction of the <br />Project Improvements is complet~d in accordance with approved plans except fot punch lisS items <br />which do not substantially prevent the use of the Project ImptovemeAts for the purposes intended <br />under this Agreement. <br />1,49 "Subunit" 4nd "Subunits" sh~ll have the meaning sec out in Seccion 2,3. <br />1, 50 "Transit District" shall mean ttie Salem Area Ma~s Transit District, a polidcal subdivision of <br />che Stace of Oregon. <br />1.~ 1 "Tra~sit F aci~ni~u~m' 1~ lude he follovving vements which are to be owned by the Transit <br />D~strict and sh~ll at <br />~1~ s uare feet of s ace to be used by the Transit AistricG aS ad~ninisuati y <br />of.fices, t~c et ot ~~ces, passenger waiting rooms an ot ~er t~ansit re ate useS or ot ease <br />e ran~it Aistrict t~ thi~d atties <br />(ii} a square faot covered transit mall des~gned for tlie loading and unloading <br />of pasaenger buses operated hy the Transit Disuict (`"Tra~sit Mall"); and <br />(iii) parking spaces o e own as irrute comr~o~ elemen~s <br />1.52 "Unxt Owner" means the Couaty with respect ~o tl3e Units coc~prising the Coun~y Facilities, <br />the Transit Discricc with resp~t ~o any Units compnsing tkle Trans~t Facilities, and a.ny Priva~te Pa.cty <br />with respect co any Unit privacely owned. <br />SECTI4N 2. CONDITIOl~ PIt~CED~NT TO PROC~~AITTG WITH FROJTCT; OWN~RSHIP <br />OF TH~ PROJ~CT <br />2.1 Cond.itian Precedent to Proceedin~ with Pro,ject. <br />(i) It shAll be a ao~dition precedent to the oblig~tioqs of the Parties to pxoceed with tl~e <br />eons~ruction of the Projacc ItnprQV~ments pursuAnt to thi$ Devolopment Agseement tl~at, on <br />or before Aecember 31, 1997, the Parties shall have negotiated the terrns and conditions of <br />_~ che General Construction Contract provic~ing for t1~e constru~tioa ~f Wbi hl~hall <br />' Imptovements at a Guaranteed maximum Price not to exceed $ <br />include: <br />(1) consuuction of the County Facil}tics at: <br />(a) an aggregat~ price (based on the County' Respeccive Share) of no~ co <br />exceed $ ; and <br />(b} a per square foot price of noC to exceed $ -+ ~d <br />(2) construction of the Transit District I'acilicies at: <br />~ Courchouse Square <br />Development A~einent <br />Page - 7 <br />