Agenda - Council - 11/28/1995 - Laserfiche WebLink

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I I I i I I I I I I I I I I I I I I I Draft 11/24/95 ARTICLE H REPRESENTATION AND UNDERTAKINGS Section 2.L undertaldngs: By the Developer. The Developer makes the following representations and (a) Th~Developer has the legal authority and power to enter into this Agreement; (b) Tho~ Developer will conslJ'uct the Minimum Improvements in accordance with the terms of this Agr~ment, the Program, the TIF Plan, and all local, state and federal laws and regulations; (c) Llpgn completion of the Minimum' Improvements, the Developer will operate and maintain, or causelto be operated and .maintained, the Minimum Improvements until the Maturity Date. .: (d) Th~ Minimum Improvements constitute permitted uses under City ordinance, are in conformity with th~ Program and TIF Plan, and will be constructed by the Developer at a market value of at least '~ . (e) The Developer has received no notice or communication from any local, state or federal official tha~ the activities of the Developer or the City in the Development District may be, or will be, in viola~on of any environmental law or regulation (other than those notices or communications o,f which the City is-aware). The Developer is aware of no facts, the existence of, which would caus~ it to be in violation of or give any person a valid claim under any local, state or federal environmental law, reguhfion or review procedure. (f) Th~ Developer will obtain, in a timely manner, all required permits, licenses and approvals, and will meet, in a timely manner, all requirements of all applicable local, state and federal laws and r~gulations which must be obtained or met before the Minirnmn Improvements may be lawfully c6nstmcied. ' (g) Neither the execution and delivery of this Agreement~ the consummation of the transactions conte~.pla~ hereby, nor the fulfillment of, or compliance with, the terms and conditions of this iAgreement, is prevented, limited by or conflicts with, or results in a breach of the terms, conditi6,ns, or provisions of any corporate restriction or any evidences of indebtedness, agreement or insugment of whatever nature to which the Developer is now a party or by which the Developer is boun,t:l, or constitutes a default under any of the foregoing. (h) Th~ Developer will cooperate .with the City with respect to any litigation, other than litigation in which~the City and the Developer are adverse parties, commenced with respect to the TIF Plan, the Profit'am, or Minimum.improvements. (i) Whenever any Event Of Default occurs and if the City employs attorneys or incur other expenses fo~ the' collection of payments due, or to become due, or for the enforcement of performance or ol:lservance of any obligation or agreement on the part of the Developer under this Agreement, the Ddveloper agrees that it.shall, within ten days of written demand by the City, pay to the C!ty the re~onable fees of such attorneys and such other expenses so incurred by the City. (j) Th9 Developer wi/1 purchase the Development Property from the City for Eighty Thousand Dollarsi ($80,000). This payment shall take place prior to the issuance of the building permit for the facility. · Page 5