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The Development Property is properly zoned for the developer's intended use and
<br />the Minimum Improvements contemplated by the Construction Plans are in
<br />conformity with the Program and TIF Plan.
<br />
<br />(g)
<br />
<br />The City has received no notice or communication from any local, state or federal
<br />o £ficial that the activities of the Developer or the City in the Development District
<br />may be, or will be, in violation of any environmental law or regulation (other than
<br />those notices or communications of which the Developer is aware). The City is
<br />aware of no facts, the existence of, which would cause it to be in violation of, or
<br />give any person a valid claim, under any local, state or federal environmental law,
<br />regulation or review procedure.
<br />
<br />(ii) The City will provide the financial assistance to the Developer as follows:
<br />
<br />Value of Development Property
<br />TIF Assistance ( the "Financial Assistance")
<br />Total Due at Closing for Developer
<br />
<br />$115,000
<br /> $5O,OOO
<br /> $65,OOO
<br />
<br /> Section 2.3 Title. City, at City's expense, shall promptly obtain and deliver to Developer
<br />a commitment for an owner's title insurance policy (ALTA Owner's Form Policy 1992) issued by
<br />a title insurance company acceptable to Developer ("Title Company"), naming Developer as the
<br />proposed owner-insured of the Development Property in the amount of $50,000 (the
<br />"Commitment"), together with copies of all documents referred to in the Commitment. The
<br />Commitment shall commit to insure fee title in Developer, free and clear of all mechanic's lien
<br />claims, questions of survey, unrecorded interests, rights of parties in possession, or other
<br />cxccptions. The City shall be obligated to deliver only those abstracts of title which are in its
<br />possession.
<br />
<br /> Developer will be allowed ten (10) business days after receipt of the Commitment, the
<br />copies of the documents referred to in the Commitment for examination thereof, and for making
<br />any objections to the marketability of the title to the Development Property, said objections to
<br />be made by written notice or to be deemed waived. Developer need not object to mortgages or
<br />other monetary liens. If any objections are so made to the marketability of the title to the
<br />Development Property, City shall immediately commence and diligently endeavor to complete
<br />all actions necessary to cure the objections, including, but not limited to, the institution of
<br />"quick take" eminent domain proceedings, and shall be allowed until the Closing Date to cure
<br />such objections and make the title to the Development Property good and marketable of record
<br />in City and to obtain and deliver to Developer appropriate endorsements to the Commitment. If
<br />not sooner satisfied, City shall satisfy any mortgages or other monetary liens against the
<br />Development Property at the closing. If the title to the Development Property, as evidenced by
<br />the Commitment together with any updating of the Commitment, is not made good and
<br />marketable of record in City on the Closing Date, Developer, at its option, may teITninate this
<br />Agreement by giving written notice to City in which event this Agreement shall become null
<br />and void, and neither party shall have any further rights, obligations, or liability hereunder.
<br />
<br /> Section 2.4 Inspection. Developer, its agents and designees, are hereby granted the right,
<br />tit all reasonable times, to enter upon and inspect, analyze, and test the Development Property
<br />and its various components for all reasonable purposes, including, but not limited to,
<br />
<br />
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