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CC PACKET 10131987
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CC PACKET 10131987
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Last modified
12/30/2015 4:25:06 PM
Creation date
12/30/2015 4:24:27 PM
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SP Box #
18
SP Folder Name
CC PACKETS 1987-1989
SP Name
CC PACKET 10131987
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. . "Redevelopment . Property",:means' ,'-the .property described on <br /> Schedule A. <br /> "Ref.unding means the issuance• of' refunding bonds for purposes <br /> of repayment -of the Arkand ,Bonds sufficient to• provide <br /> financing. -fox -:the construction of the Minimum Improvements on <br /> the Redevelopment Property and such that the financing is . <br /> available to be drawn upon by the Redeveloper. - <br /> "Restrictions" means the easements, covenants, conditions and <br /> restrictions set forth in Exhibit 2- attached to a Deed. <br /> "Section" means a Section of this Agreement, unless used in <br /> reference to Minnesota Statutes . <br /> Time Table" means the schedule of performance dates for certain <br /> actions by Redeveloper under this Agreement, attached hereto as <br /> Schedule C and made a part hereof . <br /> "Unavoidable Delay" means a failure or' delay in a party' s <br /> performance of its obligations under this Agreement, or during <br /> any cure period specified in this Agreement which does not <br /> entail the mere payment of money, not within the party' s <br /> reasonable control, including but not limited to acts of God, <br /> • governmental agencies , the other party, strikes', labor disputes <br /> (except disputes which could be resolved by using union labor) , <br /> fire or other casualty, or lack of materials; provided that <br /> within 10 days after a party impaired by the delay has <br /> knowledge of the delay it shall give the other party notice of <br /> the- delay and the estimated length of the delay, and shall give <br /> the other party notice of the actual length of the delay within <br /> 10 days after the cause of the delay has ceased to exist . The <br /> parties shall pursue with reasonable diligence the avoidance <br /> and removal of any such delay. Unavoidable- Delay- shall -not <br /> extend performance of any obligation unless the notices . <br /> required in this definition are given as herein required. - <br /> ARTICLE II <br /> Representations and Warranties <br /> Section 2 . 1 . By HRA. HRA makes the following <br /> representations to Redeveloper : <br /> (a) HRA is a housing and redevelopment authority duly <br /> organized- and .existing..under the laws of Minnesota . . ' Under the <br /> provisions - of the Acts HRA has the power to. .enter into this <br /> . Agreement and carry •,out .its. .obligations hereunder: <br /> • <br /> -5- <br />
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