Laserfiche WebLink
Draft 1/4/95 <br /> <br />ARTICLE IV <br /> <br />CONSTRUCTION OF.SITE IMPROVEMENTS <br /> <br /> ~- Section 4.1. Construction of Site Improvements. The City shall construct the Site <br /> Im~vements on the Development Property in conformance with the Site Improvement Plan <br /> a~hed as Exkibit C. Such construction shall commence only after the Developer and the City <br /> hav~ executed a license agreement for the Development Property in the form attached as Exhibit G. <br /> Thai/tense agreement shall permit the City to enter the Development Property and conswact the <br /> Sit, Improvements. The license agreement shall provide that the City will carry public liability <br /> instance ~n an amount sufficient to protect the City and Developer from any claims arising out of <br /> acug'it/es by the City on the Property. The City shall complete the Site Improvements by no later <br /> th~ June 1, 1996. <br /> ~ Section 4.2. Lien .for Site Improvera~r~ts. The license agreement for the Property shall <br /> resinate upon the City's completion of the Site Improvements, or on such other date as specified <br /> in ~e document. The City shall retain a lien on the Property in the amount of Seventy Eight <br /> Tk?0usand Dollars ($78,000) until completion of the Minimum Improvements by the Developer, <br /> w~ch option represents the cost to the City of purchasing the Site for development. The option <br /> sh~ be in substantially the form attached as Exhibit F. <br /> <br />? <br />i: Page 9 <br /> <br /> <br />