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07-22-2019 EDA Packet
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07-22-2019 EDA Packet
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10/30/2021 1:08:48 PM
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EDA
EDA Document Type
EDA Packet
Meeting Date
07/22/2019
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24 <br />Agreement as to the portion of the TIF District Property and Minimum Improvements to be <br />transferred and agreed to be subject to all the conditions and restrictions to which the <br />Developer is subject as to such portion; provided, however, that the fact that any transferee <br />of, or any other successor in interest whatsoever to, the TIF District Property and Minimum <br />Improvements, or any part thereof, shall not, for whatever reason, have assumed such <br />obligations or so agreed, and shall not (unless and only to the extent otherwise specifically <br />provided in this Agreement or agreed to in writing by the Authority) deprive the Authority <br />of any rights or remedies or controls with respect to the TIF District Property, the Minimum <br />Improvements or any part thereof or the construction of the Minimum Improvements; it <br />being the intent of the parties as expressed in this Agreement that (to the fullest extent <br />permitted at law and in equity and excepting only in the manner and to the extent <br />specifically provided otherwise in this Agreement) no transfer of, or change with respect to, <br />ownership in the TIF District Property, the Minimum Improvements or any part thereof, or <br />any interest therein, however consummated or occurring, and whether voluntary or <br />involuntary, shall operate, legally, or practically, to deprive or limit the Authority of or with <br />respect to any rights or remedies on controls provided in or resulting from this Agreement <br />with respect to the TIF District Property and Minimum Improvements that the Authority <br />would have had, had there been no such transfer or change. In the absence of specific <br />written agreement by the Authority to the contrary, no such transfer or approval by the <br />Authority thereof shall be deemed to relieve the Developer, or any other party bound in any <br />way by this Agreement or otherwise with respect to the TIF District Property and Minimum <br />Improvements, from any of its obligations with respect thereto. <br /> <br /> (iii) Any and all instruments and other legal documents involved in effecting the <br />transfer of any interest in this Agreement or the TIF District Property governed by this <br />Article VIII, shall be in a form reasonably satisfactory to the Authority. <br /> <br />In the event the foregoing conditions are satisfied then the Developer shall be released from its <br />obligation under this Agreement, as to the portion of the TIF District Property that is transferred, <br />assigned, or otherwise conveyed. The restrictions under this Section terminate upon issuance of the <br />Certificate of Completion. <br /> <br />Section 8.3. Release and Indemnification Covenants. <br /> <br />(a) The Developer releases from and covenants and agrees that the Authority and the <br />governing body members, officers, agents, servants, and employees thereof (the “Indemnified <br />Parties”) shall not be liable for and agrees to indemnify and hold harmless the Indemnified Parties <br />against any loss or damage to property or any injury to or death of any person occurring at or about <br />or resulting from any defect in the TIF District Property or the Minimum Improvements. <br /> <br /> (b) Except for any willful misrepresentation or any willful or wanton misconduct or <br />negligence of the Indemnified Parties, and except for any breach by any of the Indemnified Parties <br />of their obligations under this Agreement, the Developer agrees to protect and defend the <br />Indemnified Parties, now and forever, and further agrees to hold the aforesaid harmless from any <br />claim, demand, suit, action, or other proceeding whatsoever by any person or entity whatsoever <br />arising or purportedly arising from this Agreement, or the transactions contemplated hereby or the
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