Laserfiche WebLink
Draft 9/8/94 <br /> <br />ARTICLE IV <br /> <br />CONSTRUCTION OF SITE IMPROVEMENTS <br /> <br /> Section 4.1. Construction of Site Imprgvements. The City shall construct the Site <br />Improvements On the Development Property in conformance with the Site Improvement Plan <br />attached as Exhibit C. Such construction shall commence only after the Developer and the City <br />have executed a license agreement for the Development Property in the form attached as Exhibit G. <br />The license agre~ement shall permit the City to enter the Development Property and construct the <br />Site ImprovemeOts. The license agreement shall provide that the City will carry public liability <br />insurance in an amount sufficient to protect the City and Developer from any claims arising out of <br />activities by the ~City on the Property. The City shall complete the Site Improvements by no later <br />than January 1, !996. <br /> <br /> Section 4.2. Lien for Site Improvements. The license agreement for the Property shall <br />terminate upon the City's completion of the Site Improvements, or on such other date as specified <br />in the documen[. The City shall retain an option on the Property in the amount of Twenty <br />Thousand Dollar's ($20,000) until completion of the Minimum Improvements by the Developer, <br />which option re~resents the cost to the City of purchasing the Site for development. The option <br />shall be in substahtially the form attached as Exhibit F. <br /> <br />Page 9 <br /> <br /> <br />