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Section 2.08. "Tax Office"means the Hays County Tax Assessor-Collector. <br /> Section 2.09. The "Term" of this Agreement shall commence on the Effective Date and <br /> end on the fifteenth (151h) anniversary of the completion of construction as defined under Section <br /> 3.01, or such earlier date of termination as provided under this Agreement. The Developer shall <br /> have thirty (30) months from the Commencement Date to complete construction as set forth in <br /> Section 3.01. At the end of the Term, the Developer may sell all or a portion of its interest in the <br /> Hotel or the Land without recourse, including any"clawback"on Sales Tax Revenue or Hotel Tax <br /> Revenue provided to the Developer as an incentive under this Agreement. <br /> ARTICLE III <br /> DEVELOPER'S OBLIGATIONS <br /> Section 3.01. Construction of Building Improvements. The Developer shall construct <br /> to completion the Building Improvements by not later than the thirty (30) month period described <br /> in Section 2.09, subject to any extensions approved by the City Manager of the City, or her <br /> designee(which approvals shall not be unreasonably withheld, delayed, or conditioned), or due to <br /> events of force majeure(the"Completion Date"). For purposes of this Agreement,the Completion <br /> Date shall be the date on which the Building Improvements have passed all required municipal <br /> inspections as evidenced by the City's issuance of a temporary or final Certificate of Occupancy, <br /> whichever is issued earlier. <br /> Section 3.02. Compliance with Laws. The Developer will comply with all applicable <br /> ordinances, statutes, laws, and regulations in connection with the Building Improvements and <br /> related Hotel improvements. Specifically, the Developer will comply with all applicable <br /> development codes for the Land in effect on the Effective Date. If the Land is exempt from any <br /> City ordinance, statute, law, or regulation due to the Land being owned by a State entity, and if <br /> such exemption would cause the development of the Land to be at odds with the legislative purpose <br /> 5 <br />