CC PACKET 04261983 - Laserfiche WebLink

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(c) Unless otherwise agreed, delivery of each Deed substantially conform to the proposal and subsequent amendments and each payment of -a portion of the Purchase Price shall be approved by the Agency; conform to the terms and conditions of made at the principal office of Agency's attorneys.. this Agreement; (b) conform to the terms and conditions of the Redevelopment Plan; (c) conform to all applicable federal, (d) Each Deed shall be in recordable form a4d shall state-and local laws, ordinances, rules and regulations; (d) be. promptly recorded at Redeveloper's expense.. are adequate to provide for construction of the Minimum Improvements; (e) provide for demolition of existing buildings; Section 3.,6.. Real Estate Taxes and Special (f) provide for minimum disturbance to neighboring properties Assessments. On or before the date of closing of the sale of a -- during demolition of the existing buildings and construction of Phase to Redeveloper, Agency shall -pay-all real estate taxes - the Minimum Improvements;. (g) do not provide for expenditures and installments of special assessments due and payable with in excess of the funds available 'to Redeveloper for the respect to the Phase prior to the closing date, and Redeveloper demolition of existing buildings and construction of the shall pay all real estate taxes and installments of special Minimum Improvements; and (h) no Event of Default has occurred. - ,assessments payable thereafter. At the time of closing, the amount of real estate taxes and installments of special No approval by the Agency shall relieve Redeveloper of assessments payable .in the year of closing shall be prorated the obligation to comply with the terms of this Agreement, the between the Agency and Redeveloper as of the date of closing. terms of the Redevelopment Plan, applicable federal, state and Any balance of special assessments remaining on a Phase after ! local laws, ordinances, rules and regulations, or to properly payment of the installment due in the year in which that Phase demolish the existing buildings or construct the Minimum is conveyed to Redeveloper shall be paid by the Agency if the Improvements. No approval by the Agency shall constitute a special assessment was levied prior to the date Phase I is waiver of an Event of Default. . Any disapproval-of the conveyed by-the Agency to Redeveloper and shall be paid or Construction Plans shall set forth the reasons therefor, and assumed by Redeveloper if the special assessment was levied shall be made within 60 days after the date of their receipt by after said date. the Agency. If Agency rejects the Construction Plans, in whole or in part, Redeveloper shall submit new or corrected Section 3.7 Access Easement. At the time of Construction Plans within 30 days after written notification to conveyance of Phase II to Redeveloper, Redeveloper will grant Redeveloper of the rejection. The provisions of this Section to the Agency an easement over Phase II .in form, size and relating to approval, rejection and resubmission of corrected location. reasonably acceptable to the Agency for vehicular and Construction Plans shall continue to apply until the -pedestrian access to Phase III and for utilities to serve Phase Construction Plans .have been approved by Agency. III. Section 4.3 Commencement and Completion of Construction. ARTICLE IV Construction of Minimum Improvements (a) As soon as reasonably possible after conveyance of a Phase to Redeveloper, Redeveloper shall have the existing Section 4.1 Construction of Minimum Improvements. buildings on the property demolished and shall have all debr.is Redeveloper will construct the Minimum Improvements on Phases removed. Unless otherwise agreed by the parties, Redeveloper conveyed to Redeveloper (and without encroachment onto any shall demolish the buildings on Phase III, remove all debris, other property) all in accordance with the Construction Plans and backfill the land, all in accordance with the Agency's and Time Table. demolition specifications, promptly after conveyance of Phase II to Redeveloper. Redeveloper will thereafter provide the Section 4.2 Construction Plans. Redeveloper shall Agency .with a statement in form and detail. reasonably submit Construction Plans to the Agency according to the Time _._. . . satisfactory-to the Agency showing the. costs of such work.. Table. The Construction. Plans- shall provide .for construction Agency.=shall=reimburse Redeveloper for such costs.;,,but' payment of the Minimum Improvements in conformity with the of such demolition costs by the Agency shall not exceed $7,000 Redevelopment Plan, the Proposal, this Agreement, and all for Phase I and $90,000 for Phases II and III combined. No applicable state and. local laws and -regulations. The-Agency reimbursement shall be made for a Phase until all demolition shall approve the Construction Plans in writing .if, in the sole and debris removal has been completed on that Phase. discretion of the Agency, the Construction Plans: (a) -9- -10-