5.1. HRSR 12-06-2004 - Laserfiche WebLink

Home Browse Search

• TABLE OF CONTENTS • Page AK ARTICLE I DEFINITIONS 3 Mir Section 1.1 Definitions 3 ARTICLE II REPRESENTATIONS AND WARRANTIES 12 Section 2.1 Representations and Warranties of the City 12 Section 2.2 Representations and Warranties by the Developer 13 ARTICLE III CONVEYANCE OF Jackson Block Property 15 Section 3.1 Purchase and Sale of Jackson Block Property 15 Section 3.2 As Is Conveyance 16 Section 3.3 Title Review Process 16 Section 3.4 Purchase Price 17 Section 3.5 Acquisition of the Bluff Block Property. 17 Section 3.6 Contingencies to Closing on Jackson Block Property 19 Section 3.7 Closing 20 Section 3.8 Closing Costs 21 ARTICLE IV CONSTRUCTION OF MINIMUM IMPROVEMENTS 22 Section 4.1 Construction Plans. 22 Section 4.2 Construction of Minimum Improvements 22 Section 4.3 Commencement and Completion of Construction 23 Section 4.4 Effect of Delay 24 Section 4.5 Compliance with Environmental Requirements 24 Section 4.6 Additional Responsibilities of the Developer 24 Section 4.7 Certificate of Completion 24 • ARTICLE V TAX INCREMENT ASSISTANCE; DEVELOPER PAYMENTS 26 Section 5.1 Creation of Tax Increment District and Amendment of Tax Increment Financing Plan 26 Section 5.2 Issuance of Tax Increment Revenue Note 26 Section 5.3 Reduction of Assistance 28 Section 5.4 Review of Taxes 29 Section 5.5 Use of Tax Increments 30 Section 5.6 Business Subsidy Act 30 Section 5.7 Developer Payments and Reimbursement 31 Section 5.8 Issuance of Tax Increment Revenue Refunding Bonds 31 Section 5.9 Issuance of Parking Lot Note 32 ARTICLE VI ENCUMBRANCE OF THE DEVELOPMENT PROPERTY 35 Section 6.1 Encumbrance of the Development Property 35 Section 6.2 Copy of Notice of Default to Mortgagee 35 Section 6.3 Mortgagee's Option to Cure Events of Default 35 Section 6.4 Defaults Under Mortgage 35 Section 6.5 Subordination of Agreement 35 ARTICLE VII DEVELOPER COVENANTS 36 Section 7.1 Insurance 36 Section 7.2 Maintenance and Operation of the Development 36 ]674205v8 1