Agenda - Council - 08/25/2026 - Laserfiche WebLink

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ARTICLE I Section 1 ARTICLE II Section 2 Section 2 ARTICLE III Section 3 Section 3 Section 3 Section 3 Section 3 Section 3. Section 3. ARTICLE IV Section 4. Section 4. Section 4. Section 4 Section 4 Section 4 TABLE OF CONTENTS Page DEFINITIONS 2 .1 Definitions 2 REPRESENTATIONS AND WARRANTIES 4 .1 Representations and Warranties of the City 4 .2 Representations and Warranties of the Developer 4 UNDERTAKINGS BY DEVELOPER AND CITY 6 .1 Development Property, Project Costs, and Legal and Administrative Expenses 6 .2 Limitations on Undertaking of the City 6 .3 Reimbursement: TIF Note 6 .4 Compliance with Low and Moderate Income Requirements 7 .5 Real Property Taxes 7 6 Prohibition Against Transfer of Project and Assignment of Agreement 8 7 Additional Responsibilities of Developer 9 EVENTS OF DEFAULT 11 1 Events of Default Defined 11 2 Remedies on Default 11 3 No Remedy Exclusive 12 .4 No Implied Waiver 12 .5 Agreement to Pay Attorney's Fees and Expenses 12 .6 Indemnification of City 12 ARTICLE V Section 5. Section 5. Section 5 DEVELOPER'S OPTION TO TERMINATE AGREEMENT 14 1 The Developer's Option to Terminate 14 2 Action to Terminate 14 .3 Effect of Termination 14 ARTICLE VI Section 6. Section 6. Section 6. Section 6. Section 6. Section 6. Section 6. Section 6 Section 6 EXHIBIT A EXHIBIT B EXHIBIT C EXHIBIT D ADDITIONAL PROVISIONS 15 1 Restrictions on Use 15 2 Conflicts of Interest 15 3 Titles of Articles and Sections 15 4 Notices and Demands 15 5 Counterparts 16 6 Law Governing 16 7 Expiration 16 .8 Provisions Surviving Rescission or Expiration 16 .9 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