2009.05.18 EDA Packet - Laserfiche WebLink

Home

TABLE OF CONTENTS Page ARTICLE I. DEFINITIONS ..................................................................................................1 Section1.1 Definitions .........................................................................................................1 ARTICLE II. REPRESENTATIONS AND WARRANTIES .................................................4 Section 2.1 Representations and Warranties of the City ......................................................4 Section 2.2 Representations and Warranties of the Developer.............................................4 ARTICLE III. UNDERTAKINGS BY DEVELOPER AND CITY.........................................6 Section 3.1 Project, Site Improvements and Legal and Administrative Expenses...............6 Section 3.2 Reimbursement: Tax Increment Revenue Note.................................................6 Section 3.3 Business Subsidies Act......................................................................................7 Section3.4 Upfront Fees ......................................................................................................8 ARTICLE IV. EVENTS OF DEFAULT...................................................................................9 Section 4.1 Events of Default Defined.................................................................................9 Section 4.2 Remedies on Default..........................................................................................9 Section 4.3 No Remedy Exclusive.....................................................................................10 Section 4.4 No Implied Waiver..........................................................................................10 Section 4.5 Agreement to Pay Attorney's Fees and Expenses...........................................10 Section 4.6 Indemnification of City....................................................................................10 ARTICLE V. DEVELOPER'S OPTION TO TERMINATE AGREEMENT.......................12 Section 5.1 The Developer's Option to Terminate.............................................................12 Section 5.2 Effect of Termination ......................................................................................12 ARTICLE VI. ADDITIONAL PROVISIONS........................................................................13 Section 6.1 Restrictions on Use..........................................................................................13 Section 6.2 Conflicts of Interest.........................................................................................13 Section 6.3 Titles of Articles and Sections.........................................................................13 Section 6.4 Notices and Demands......................................................................................13 Section 6.5 Counterparts.....................................................................................................13 Section 6.6 Law Governing................................................................................................14 Section6.7 Expiration........................................................................................................14 Section 6.8 Provisions Surviving Rescission or Expiration...............................................14 Section 6.9 Assignability of Agreement and TIF Note ......................................................14 EXHIBIT A Description of Development Property...................................................................A-1 EXHIBIT B Form of TIF Note....................................................................................................B-1 EXHIBIT C Site Improvements..................................................................................................0-1 EXHIBIT D Construction Plans................................................................................................. D-1 2340062v2 -i-