CC PACKET 08222000 - Laserfiche WebLink

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08/16/00 RED 15:35 FAX 6123402644 DORSEY & WHITNEY 189 the policy period. The City shall be named as co-insured on said policy and Redeveloper shall file a certificate of insurance or copy of the policy evidencing such insurance coverage with:the City. Redeveloper will cause each person or company with whom Redeveloper contracts for installation of the Improvements to farnish the City with the same evidence of complete insurance coverage as is required to be furnished by Redeveloper. 11. Title. Redeveloper shall provide the City with evidence of ownership of fee title to all of the Property, which title shall be subject to approval by the City Attorney. 12. Reimbursement of Costs. Redeveloper shall reimburse the City for all fees and expenses of planners,attorneys, engineers and other consultants incurred by the City in connection with the preparation, administration and enforcement of the PUD Ordinance, the Plan,this Agreement,the Redevelopment Agreement to be executed by Redeveloper in connection with tax increment financing for the Property, completion of the Improvements and the performance.of this Agreement by Redeveloper. The costs to be paid by Redeveloper under this paragraph shall be estimated by the City and the estimated amount shall be paid to the City prior to the signing of this Agreement by the City. At any subsequent time,the actual amount of the costs under this paragraph may be determined by the City and any amount to be paid by the Redeveloper to the City for reimbursement of the costs shall be paid prior to the issuance of any additional permits and prior to the payment to Redeveloper of any additional funds under the Redevelopment Agreement. If the amount paid by Redeveloper exceeds the actual costs to the City,the excess shall be refunded to Redeveloper. • 13. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns; provided,however,that Redeveloper shall- not assign this Agreement or any interest therein without the prior written consent of t}e City. Notwithstanding the foregoing, this Section shall not apply to any transfer or assignment to (i) any entity controlling, controlled by or under common control with the Redeveloper or(ii) any entity in which the majority equity interest is owned by the parties that have a majority equity interest in the Redeveloper. In the absence of specific written agreement by the City to the contrary, no such transfer or approval by the City thereof shall be deemed to relieve Redeveloper, or any other party bound in any way by this,Agreement or otherwise with respect to the completion of the Improvements on the Property,from any of its obligations with respect thereto. The City does agree,however,that if(i) Redeveloper completes the Improvements referred to in Section 4 of this Agreement as required under this Agreement,and(ii) Redeveloper has assigned this Agreement to a permitted assignee referred to in the preceding paragraph of this Section, and(iv) such assignee has assumed in writing the obligations of Redeveloper under this Agreement,and(v)Redeveloper is not then in default under this Agreement, then the City will execute a document releasing Hillcrest Development of its obligations under this Agreement. • -4-