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BRIGGS -tee MORGAN <br /> Dave Maroney <br /> Rick Jopke <br /> July 28, 1998 <br /> Page 4 <br /> a. The City may�spen its performance under the Development Agreement until it <br /> receives assurance that the developer can perform; <br /> b. The City may draw upon any guaranty or security provided to the City(such as <br /> the letter of credit); and <br /> c. The City may take any action including Iegal or PA*nhnistrative action which may <br /> appear desirable to-collect any payments due under the Agreement, to sue for <br /> money damages or to enforce the contract <br /> 17. In the event of default, the developer agrees to pay the City's attorneys fees and other <br /> expenses. <br /> • <br /> 18. The developer agrees to pay a payment in lieu of taxes in the year 2000 in an amount to <br /> be negotiated (5218,500 is currently under consideration). <br /> 19. The "Rent All" facility to be acquired by the EDA may be leased to the developer for <br /> parking purposes. The specifics of this acquisition and lease are still undetermined. <br /> The foregoing is not meant to be an exclusive list of all of the terms of the Development <br /> Agreement, but is intended to lay out the significant terms applicable to this facility. <br /> Very truly yours, <br /> 7'y /49pei <br /> Mary L. Ippel <br /> MLO <br /> 962504.1 <br /> moi, :�'� 'n�� " ..` .% rK 7 <br />