09-07-2021 EDA Packet - Laserfiche WebLink

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8 constructed. The Developer did not obtain a building permit for any portion of the Minimum Improvements before July 8, 2019, the date of approval of the TIF Plan for the TIF District. (e) Neither the execution and delivery of this Agreement, the consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the terms and conditions of this Agreement is prevented, limited by or conflicts with or results in a breach of, the terms, conditions or provisions of any corporate restriction or any evidences of indebtedness, agreement or instrument of whatever nature to which the Developer is now a party or by which it is bound, or constitutes a default under any of the foregoing, which default or breach might prevent the Developer from performing its obligations under this Agreement. (f) The Developer shall promptly advise the Authority in writing of all litigation or claims affecting any part of the Minimum Improvements and all written complaints and charges made by any governmental authority materially affecting the Minimum Improvements or materially affecting Developer or its business which may delay or require changes in construction of the Minimum Improvements. (h) The Developer represents that no more than twenty percent (20%) of the square footage of the Senior Housing Units (the only housing units being financially subsidized with Available Tax Increment from the TIF District) will consist of commercial, retail or other nonresidential use. (g) The Developer represents that each Independent Living Unit and each Assisted Living Unit within the Senior Housing Units has facilities to cook (such as a microwave) and a bathroom. The Senior Housing Units may have nurse(s) or home health aide(s) on staff, but none of the Senior Housing Units will have 24-hour nursing care on-site (provided, however, that from time to time, a resident of the Senior Housing Units may have such services on a temporary basis, such as on a short- term basis following surgery, but in no event shall such services extend to the provision of ongoing skilled care). (The remainder of this page is intentionally left blank.)