7.5. SR 07-15-2013 - Laserfiche WebLink

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"Substantial Completion" means the stage in the progress of construction of Project where the work is sufficiently complete in accordance with the plans approved under this Agreement that a certificate of occupancy or temporary certificate is issued. "Tax Abatement" means collectively the County Tax Abatement and the City Tax Abatement of ad valorem real estate taxes levied on the Project by the County as provided in the County's Tax Abatement Resolution and by the City as provided in the City Tax Abatement Resolution and this Agreement, and as authorized by the Tax Abatement Act. "Tax Abatement Act" means Minnesota Statutes, Sections 469.1812 through 469.1815, as amended or supplemented from time to time. "Unavoidable Delays" means delays outside the control of the Party claiming its occurrence which are the direct result of strikes, other labor troubles, unusually severe or prolonged bad weather, Acts of God, fire or other casualty to the Project, litigation commenced by third parties which, by injunction or other similar judicial action, directly results in delays, or acts of any federal, state or local governmental unit (other than the City) which directly result in delays. Unavoidable delays shall not include delays in the Developer's obtaining permits or governmental approvals necessary directly to enable construction of the Project. ARTICLE II. REPRESENTATIONS AND WARRANTIES Section 2.1. Representations and Warranties by the City. The City represents and warrants that: (a) The City is a Minnesota municipal corporation duly organized and existing under the laws of the State of Minnesota. Under the laws of the State, the City has the power to enter into this Agreement and carry out its obligations hereunder. (b) The Business Subsidy Program was created, adopted and approved in accordance with the terms of the Business Subsidy Act and the City's Business Subsidy Policy and Criteria. (c) The City Tax Abatement is consistent with the criteria established for awarding subsidies by the City. Section 2.2. Representations and Warranties by the County. The County represents and warrants that: (a) The County is a body corporate and politic duly organized and existing under the laws of the State of Minnesota. Under the laws of the State, the County has the power to enter into this Agreement and carry out its obligations hereunder.