CC PACKET 02101998 - Laserfiche WebLink

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to any alleged liability in respect of which indemnity may be sought against the • Redeveloper. The HRA or the City shall have the right to employ separate counsel in any such action and to participate in the defense thereof,but the fees and expenses of such counsel shall not be at the expense of the Redeveloper unless the employment of such counsel has been specifically authorized by the Redeveloper: The Redeveloper shall not be liable to indemnify any person for any settlement of any such action effected without its consent. The omission to notify the Redeveloper as herein provided will not relieve it from any liability which it may have to any indemnified party pursuant hereto, otherwise than under this section. ARTICLE 5 Reimbursement of Project Costs to Redeveloper Section 5.1 Reimbursement to Redeveloper. The HRA agrees to reimburse the Redeveloper for$30,000 with respect to costs paid by the Redeveloper with respect to the acquisition and development of the Redevelopment Properly: Such reimbursement shall be paid to the Redeveloper upon the issuance of the certificates of occupancy for all of the four townhouse units to be constructed on the Redevelopment Property in accordance with the Construction Plans: ARTICLE 6 Prohibition on Transfer or Assignment Section 6.1 Transfer or Assignment of Agreement. This Agreement may not be transferred or assigned by the Redeveloper without the prior written consent of the HRA. ARTICLE 7 Events of Default Section 7.1 Events of Default. The following shall be"Events of Default", under this Agreement and the term"Event of Default" shall mean,whenever it is used in this Agreement (unless the context otherwise provides), any one or more of the following events which occurs and continues for more than 30 days after notice by the HRA to Redeveloper of such default (and the term "default" shall mean any event which would with the passage of time or giving of notice, or both,be an"Event of Default" hereunder): -7- '