Agenda Packets - 1987/12/14 - Laserfiche WebLink

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and during the course of such contest the Grantee shall keep the Grantor informed respecting the status of such defense; or (d) Cause or permit, in violation of the Agreement, any transfer of the Property or any part thereof, or any change in the ownership or distribution thereof of the Grantee, or with respect to the identity of the parties in control of the Grantee or the degree thereof, and such violation shall not be cured within sixty (60) days after written demand by the Grantor to the Grantee; or (e) Fail to comply with any of Its covenants under the Agreement and fail to cure any such noncompliance or breach within thirty (30) days after written demand from the Grantor to the Grandee to do so; then the Grantor shall have the right to re-enter and take possession of the Property and to terminate and revest in the Grantor the estate conveyed by this Deed to the Grantee, its assigns or successors In interast; but only It theeents stated in Section 2(a)-(e) have not been cured within the time Pe provided above. SBCTiON 3. The Grantee agrees for Itself and its successors and assigns to or of the Property or say part thereof, hereinbefore described, that the Grantee and such successors and assigns shall: (a) Devote the Property to, and only to and in accordance with the uses specified in any applicable municipal development district plan as amended and extended; (b) Not discriminate on the basis of race, color, creed, netio.^.el origin, or sex In the sale, lease, rental, or In the use or occupancy of the Property or any Improvements erected or to be erected thereon, or any part thereof; (a) Not cause the Property to be removed from the public tax rolls or to become exempt from assessment for general real estate taxes by reason of any conveyance, lease, abatement, or other action so long as tax increment generated by the Property is pledged to the payment of the principal of and Interest due on outstanding bonds or other obligations; (d) Not apply for or seek through administrative or judicial proceedings a reduction in real property taxes If such reduction would reduce taxes to an amount below the amount needed to pay the principal and Interest due on ''the tends or other obligations for which tax increment generated by the Property is pledged; and (e) Comply with the provisions of Sections 5.1, 6.1, and 6.3 of the Agreement relating to Insurance coverage, tax guaranty payments, and the payment of real property taxes. it Is intended and agreed that the above and foregoing agreements and covenants shell be covenants running with the land, and that they shall, in any H-3