Specifications include, but are not limited to: The potential obligations and requirements pursuant redevelopment agreements will be dependent on the size and nature of the project. These will include, but not be limited to, the following obligations and requirements: 1) Parcels are transferred in "AS-IS" condition and without any warranty or representation from PRA 2) Speculation is prohibited 3) Covenant running with the land re: non-discrimination in right to live in the property and in the sale or lease of the property 4) Guaranty of completion within specified time limits, including the forfeiture of title if the project is not completed timely 5) Every prime construction contract where the cost exceeds $10,000 must have: a. a surety bond; or b. irrevocable letter of credit; or c. restrictive or escrow account 6) Provision that developer cannot sell, lease, assign or transfer the property without the Authority's consent (prior to issuance of a certificate of completion) 7) Adherence to applicable Urban Renewal Plan 8) Fine Arts requirements in accordance with The Percent for Art Program dated August 10, 2010, as amended 9) Prevailing wage compliance 10) Limitations as to mortgages placed upon the property, along with a series of limiting rights that a mortgagee will have upon default by the redeveloper 11) Developer responsible for obtaining permits, licenses, etc. 12) Insurance requirements and indemnification of PRA and City 13) Environmental waivers and environmental indemnification of PRA and City 14) MBE/WBE/DBE requirements, including execution of an Economic Opportunity Plan 15) Grant of Power of Attorney permitting revestment of property in the event of default, along with other remedies