07-28-1999 Council Agenda - Laserfiche WebLink

Home Browse Search

with respect to any suit, action, demand or other proceeding brought by the Developer against the City to enforce its rights under this Agreement) or (ii) the acquisition, construction, installation, ownership, and operation of the Minimum Improvements by the Developer. (c) The indemnified parties shall not be liable for any damage or injury to the persons or property of the Developer or its officers, agents, servants or employees or any other person who may be about the Minimum Improvements due to any act of negligence of any person, other than any act of negligence on the part of any such indemnified party or its officers, agents, servants or employees. (d) All covenants, stipulations, promises, agreements and obligations of the City contained herein shall be deemed to be the covenants, stipulations, promises, agreements and obligations of the City, respectively, and not of any governing body member, officer, agent, servant or employee of the City in the individual capacity thereof. Section 9.4. Approvals. Notwithstanding Section 9.1 and 9.2, any approval of a transfer of interest in the Developer, this Agreement, or all or a part of the Development Property required to be given by the City under this Article IX may be denied only in the event that the City reasonably determines that the ability of the Developer to perform its obligations under this Agreement and its obligation, to pay ad valorem real property taxes assessed with respect to the Development Property, or the overall financial security provided to the City under the terms of this Agreement, or the likelihood of the Minimum Improvements being successfully constructed and operated and maintained pursuant to the terms of this Agreement, will be materially impaired by the action for which approval is sought. 1054867.2 Page 84