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permits are issued for any of the condor_,inium <br />units. It is the intent of the Developer to <br />secure all building permits for all the units in <br />the Project as soon as possible. <br />C. Final Inspection/Certificate of Occupancy - Developer <br />shall complete the Froject so as to receive final <br />inspection/certificate of occupancy for all 170 <br />units by December 31, 1983; provided, however, <br />that Developer shall receive final inspection/certif- <br />icate of occupancy for no more than 107 units in <br />calendar year 1982. <br />II. REVOCATION OF DEVELOPP^?'P1T APPROVAL <br />In the event Developer fails to complete units as scheduled <br />above and has not acted in good faith in attempting to <br />complete same, as determined by the City Council, development <br />approval shall be revoked as to those units not under construction. <br />Development approval revocation shall automatically revoke <br />any building permit which may have been issued. A unit <br />"under construction" as used herein shall mean a unit actually <br />under construction pursuant to a valid building permit and <br />making bona fide progress toward completion in the determination <br />of the City Council. Pevocation of development approval <br />shall work a forfeiture of any fees or other payments which <br />may have been paid at the time of securing building permits. <br />That portion of the Project which is subject to revocation <br />of its development approval shall not be developed in any <br />manner unless a subsequent agreement concerning its development <br />is reached between Developer and City. <br />-3- <br />