Agenda - Council - 02/22/2005 - Laserfiche WebLink

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Maintenance Costs (Whether at not'the Cityeiects to also foreclose its lien), the City may also recover interest, as described above, and all costs of collection, including reasonable attorneys' fees and costs. The City may; ;in the fUture, seek to amend its Charter to permit the City to specially assess amounts due uiider this Agreement against a Parcel if such amounts are not paid when and as they are due under :the te~s 'of thi.s A~eement. 16. Damage or D~truefion:and~Insurance. If the Parking Improvements are damaged or destroyed~ the City,Will repm~ such damage or destruction or, if the City determines that it is in the City's best inter~st to replace the damaged Parking ~provements, the City will replace the damaged or destroyed Parhng ~provements. The City must commence such repair or replacement within 6 months}Of the dat~ of the damage or destruction and must complete such repair or replacement within 12~months 0Cthe}date of such damage or destruction. The cost of such repair or replacement with be a P~hng Maintenance Cost, but the City must use insurance proceeds and reserve ~nds, to ~the extent available, to finance such repair or replacement. If insurance proceeds and rese~e hndS are i~nSuffiCient to finance the cost of repair or replacement, the City may finance the repair br replacement from other sources and reimburse itself or repay third parties fi-om future collections of pfirhng 'Maintenance Costs. The City must obtain and maintain casualty insurance in~ring the Parking ~provements. The City must maintain insurance for the full replacemeat c°~t~ of tiny inSurable improvements .that constitute a part of the Parking hnprovements, subject t0 a dedugtible:in an amount the City Council dete~ines. The cost of the casualty insurance ~d the am0~t of ~y deductible, in the event of an insured loss, are Parking Maintenance Costs. 17. Amendments. This Agreqment may be amended, at any time, with the written consent of the fee owner of each Parcel in the Parking District. To be effective the amendment must be executed and 'acknowledged by each such Parcel owner and the amendment must be recorded in the appropriate COunty land records. In addition, the City may amend this Agreement pursuant to ~Section 18 and 19 below. 18. Changer to the P~rking D[s~ict. At any time and from time to time and without the consent of the Parcel owners~ ~excePt as PrOVided in Section 18.1 below, the City may amend this Agreement to redefine the :Parking DiStriCt to include additional po~ions of the Subject Property or to remove Po~ions of the Subject Prope~y from the Parking District provided that: 18.1. The owner of each~ parcel removed from the Parking District and the owner of each Parcel added to the Parhng District consents in writing to the amendment; and 18.2. The City also amen4s theParking Plan to reflect the removal and addition of Parcels. In the amended Parking Plan, the number of parking spaces in the Parking hnprovements that are allocated lo the Parcel(s) being added to the Parking District must equal the number of Parking Spaces allOcated to the Parcel(s) being removed from the Parking District unless the City is also amending the Parking plan as described in Section 4 above to increase or decrease the number of Parking Spaces allocated to Parcels that are not being added to or removed from the Parking DistriCt. In any eVent; :an amendment to the Parking Plan that the City adopts in connection with an amendment ito this Agreement cannot increase a Parcel owner's Allocated Share without the consent of that:Parcel owner. 1713529v5 , 8