Agenda - Council - 07/14/2026 - Laserfiche WebLink

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TABLE OF CONTENTS ARTICLE I DEFINITIONS Section 1.1 Definitions Page 2 2 ARTICLE II REPRESENTATIONS AND WARRANTIES Section 2.1 Representations and Warranties of the City 4 4 4 6 Section 2.2 Representations and Warranties of the Developer ARTICLE III UNDERTAKINGS BY DEVELOPER AND CITY Section 3.1 Development Property, Project Costs, and Legal and Administrative Expenses 6 Limitations on Undertaking of the City 6 Reimbursement: TIF Note 6 Compliance with Low and Moderate Income Requirements 7 Real Property Taxes 7 Prohibition Against Transfer of Project and Assignment of Agreement 8 Additional Responsibilities of Developer 9 Section 3.2 Section 3.3 Section 3.4 Section 3.5 Section 3.6 Section 3.7 ARTICLE IV EVENTS OF DEFAULT Section 4.1 Section 4.2 Section 4.3 Section 4.4 Section 4.5 Section 4.6 11 Events of Default Defined 11 Remedies on Default 11 No Remedy Exclusive 12 No Implied Waiver 12 Agreement to Pay Attorney's Fees and Expenses 12 Indemnification of City 12 ARTICLE V DEVELOPERS OPTION TO TERMINATE AGREEMENT Section 5.1 Section 5.2 Section 5.3 ARTICLE VI Section 6. Section Section Section Section Section Section Section Section EXHIBIT A EXHIBIT B EXHIBIT C EXHIBIT D 1 6.2 6.3 6.4 6.5 6.6 6.7 6.8 6.9 14 The Developer's Option to Terminate 14 Action to Terminate 14 Effect of Termination 14 ADDITIONAL PROVISIONS 15 Restrictions on Use 15 Conflicts of Interest 15 Titles of Articles and Sections 15 Notices and Demands 15 Counterparts 16 Law Governing 16 Expiration 16 Provisions Surviving Rescission or Expiration 16 Assignment of Agreement and TIF Note 16 DESCRIPTION OF DEVELOPMENT PROPERTY A-1 FORM OF TIF NOTE B-1 SUBCONTRACTOR ADDENDUM C-1 COMPLIANCE CERTIFICATE D-1 300384045v3