Agenda - Council - 12/21/1999 - Special

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TABLE OF CONTENTS Page ~TICLE I - DEFINITIONS ........................................... 2 Section 1.1. Definitions .................................. 2 ARTICLE II - REPRESENTATIONS AND WARRANTIES ...................... 4 Section 2.1. Representations and Warranties of the City .................................. 4 Section 2.2.. Representations and Warranties of the Developer ............................. 4 ARTICLE III - UNDERTAKINGS BY DEVELOPER AND CITY ................. 6 Section 3.1. Development Property ......................... 6 Section 3.2. Conditions to Conveyance of Developer Property; Limitation of Costs; Methods of Payment ........................... 6 Section 3.3. Business Subsidies Act ........................ 7 Section 3.4. Execution of Assessment Agreement ............ 8 Section 3.5. Developer's Agreement to Pay Tax Increment Deficiency ......................... 9 Section 3.6. Transfer of Development Property ............. 9 ARTICLE IV - EVENTS OF DEFAULT .................................. 10 Section 4.1. Section 4.2. Section 4.3. Section 4.4. Section 4.5. Section 4.6. Events of Default Defined ................... 10 Remedies on Default ......................... 11 No Remedy Exclusive ......................... 11 No Implied Waiver ........................... 11 Agreement to Pay Attorney's Fees and Expenses ................................ 11 Indemnification of City ..................... 12 ARTICLE V - DEVELOPER'S OPTION TO TERMINATE AGREEMENT ........... 13 Section 5.1. The Developer's Option to' Terminate .......... 13 Section 5.2. Action to Terminate ......................... 13 Section 5.3. Effect of Termination ....................... 13 ARTICLE VI - ADDITIONAL PROVISIONS .............................. 14 Section 6 1. Section 6 2. Section 6 3. Section 6 4. Sect ion 6 5. Section 6 6. Section 6 7. Section 6 8. Restrictions on Use ......................... 14 Conflicts of Interest ....................... 14 Titles of Articles and Sections ............. 14 Notices and Demands ......................... 14 Counterparts ................................ 15 Law Governing ............................... 15 Expiration .................................. 15 Provisions Surviving Rescission or Expiration ............................... 15 Signatures ........................ Exhibits 16-17 1062445.4