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Agenda - Economic Development Authority - 04/07/2020
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Agenda - Economic Development Authority - 04/07/2020
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Last modified
3/14/2025 3:38:45 PM
Creation date
4/6/2020 12:19:40 PM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
04/07/2020
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TABLE OF CONTENTS <br />Page <br />ARTICLE I DEFINITIONS ................................................................................................. 2 <br />Section 1.1 Definitions............................................................................................ 2 <br />ARTICLE II REPRESENTATIONS AND WARRANTIES ................................................ 4 <br />Section 2.1 Representations and Warranties of the City ......................................... 4 <br />Section 2.2 Representations and Warranties of the Developer ............................... 4 <br />ARTICLE III UNDERTAKINGS BY DEVELOPER AND CITY ....................................... 6 <br />Section 3.1 Development Property ......................................................................... 6 <br />Section 3.2 Legal and Administrative Expenses ..................................................... 6 <br />Section 3.3 Business Subsidies Act ........................................................................ 6 <br />Section 3.4 Execution of Assessment Agreement .................................................. 7 <br />ARTICLE IV EVENTS OF DEFAULT ................................................................................. 8 <br />Section 4.1 Events of Default Defined ................................................................... 8 <br />Section 4.2 Remedies on Default ............................................................................ 8 <br />Section 4.3 No Remedy Exclusive.......................................................................... 9 <br />Section 4.4 No Implied Waiver .............................................................................. 9 <br />Section 4.5 Agreement to Pay Attorney's Fees and Expenses ................................ 9 <br />Section 4.6 Indemnification of City ........................................................................ 9 <br />ARTICLE V ADDITIONAL PROVISIONS ...................................................................... 11 <br />Section 5.1 Restrictions on Use ............................................................................ 11 <br />Section 5.2 Conflicts of Interest............................................................................ 11 <br />Section 5.3 Titles of Articles and Sections ........................................................... 11 <br />Section 5.4 Notices and Demands ........................................................................ 11 <br />Section 5.5 Counterparts ....................................................................................... 12 <br />Section 5.6 Law Governing .................................................................................. 12 <br />Section 5.7 Expiration ........................................................................................... 12 <br />Section 5.8 Provisions Surviving Rescission or Expiration.................................. 12 <br />Section 5.9 Transfer of Development Property; Assignability of Agreement ...... 12 <br />EXHIBIT A DESCRIPTION OF DEVELOPMENT PROPERTY........................................... A-1 <br />EXHIBIT B FORM OF ASSESSMENT AGREEMENT ......................................................... B-1 <br /> <br />12472188v2 <br /> <br />
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