Laserfiche WebLink
<br />(f) The City has received no notice or communication from any local, state or federal <br />official that the activities of the Developer or the City in the Development District may be, or will <br />be, in violation of any environmental law or regulation (other than those notices or communications <br />of which the Developer is aware). The City is aware of no facts, the existence of which would <br />cause it to be in violation of, or give any person a valid claim under any local, state or federal <br />environmental law, regulation or review procedure. The City warrants to the developer that the site <br />is free from any hazardous wastes or contaminants and will indemnify and hold harmless from any <br />liability, loss, costs or damages due to any such contamination existing on the site prior to the date <br />of this agreement. <br /> <br />(g) The City will provide the following fmancial assistance to the Developer of the <br />Development Property. This assistance will be a total of Thirty-eight Thousand Dollars ($38,000). <br />These funds shall be in addition to the Eighty Thousand Dollars ($80,000) dedicated from the sale <br />of the property. The fmancial assistance from the City shall be based upon the following <br />calculations: <br /> <br />Historical Society Grant <br />Community Development Block Grant <br />Total Assistance Available <br /> <br />$ <br />$ <br />$ <br /> <br />16,000 <br />22,000 <br />38,000 <br /> <br />(h) The City, at the time of closing and in accordance with this agreement, will transfer <br />the clear title of the Development Property, as described in Exhibit A, to the Developer. <br /> <br />(i) The Financial Assistance provided by the City shall be used for the rehabilitation of <br />the building identified as School House Number 28 and the site. The City shall allow draws from <br />the financial assistance for the types of work: <br /> <br />Historical Society Grant - $16,000 <br />Building footings <br />Block walls <br />Excavation <br />Lift building <br />Brick tucking <br />Bricks <br />Roofing <br /> <br />Community Development Block Grant - $22,000 <br />Remaining building restoration, including interior work and site improvements. <br /> <br />G) The City shall enter into an agreement with the Developer authorizing the Developer <br />to provide the services of a general contractor/administrator for the completion of the restoration <br />project. <br /> <br />(k) The City shall indemnify and hold the Developer harmless from any cost oveffilns <br />(Le. any expenses over the allocated funds of $118,000.00) for the restoration project of Old <br />School House Number 28. <br /> <br />(1) Whenever any Event of Default occurs and if the Developer employs attorneys or <br />incurs other expenses for the collection of payments due, or to become due, or for the enforcement <br />of performance or observance of any obligation or agreement on the part of the Developer under <br />this Agreement, the Developer agrees that it shall, within ten days of written demand by the <br />Developer, pay to the Developer the reasonable fees of such attorneys and such other expenses so <br />incurred by the Developer. <br /> <br />Page 7 <br />