08-13-2003 Council Agenda - Laserfiche WebLink

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TABLE OF CONTENTS Page ARTICLE I DEFINITIONS Section 1.1 Definitions ARTICLE II REIMBURSEMENT OF PROJECT COSTS Section 2.1 Section 2.2 2 2 5 Representations and Warranties of the City 5 Representations and Warranties of the Developer 5 7 .1 Site Improvements and Legal and Administrative Expenses 7 .2 Reimbursement of Site Improvement Expenses 7 CONSTRUCTION OF MINIMUM IMPROVEMENTS 9 .1 Construction of Minimum Improvements 9 .2 Construction Plans 9 3 Commencement and Completion of Construction 10 INSURANCE 11 1 Insurance 11 2 Condemnation 12 3 Reconstruction or Payment 13 4 Relationship to Mortgagee 13 ASSESSMENT AGREEMENT AND OTHER COVENANTS 14 1 Execution of Assessment Agreements 14 2 Real Property Taxes 14 3 Business Subsidies Act 15 TAX INCREMENT SHORTFALL GUARANTY 17 1 Developer's Agreement to Pay Tax Increment Deficiency 17 MORTGAGE FINANCING 18 1 Limitation Upon Encumbrance of Property 18 2 Approval of Mortgage 18 3 Notice of Default; Copy to Mortgagee 18 4 Mortgagee's Option to Cure Defaults 19 5 City's Option to Cure Default on Mortgage 19 6 Subordination and Modification for the Benefit of Mortgagees 19 ARTICLE III REIMBURSEMENT OF PROJECT COSTS Section 3 Section 3 ARTICLE IV Section 4 Section 4 Section 4. ARTICLE V Section 5. Section 5. Section 5. Section 5. ARTICLE VI Section 6. Section 6. Section 6. ARTICLE VII Section 7. ARTICLE VIII Section 8. Section 8. Section 8. Section 8. Section 8. Section 8. 1549292v2 -3