5.1. HRSR 12-06-2004 - Laserfiche WebLink

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Proj ect Transferee Bluff Block Housing Project Bluff Block, LLC • Jackson Block Housing Project MDI Limited Partnership #70 Bluff Block Commercial Project Bluff Block, LLC Jackson Block Commercial Project (b) Except as provided in Subsection (a) of this Section, the City shall be entitled to require, as conditions to any approval of any sale, assignment, conveyance, use or transfer requiring City approval under this Section that: (i) Any proposed transferee shall have the -qualifications and financial responsibility, as determined by the City, necessary and adequate to fulfill the obligations undertaken in this Agreement by the Developer; (ii) Any proposed transferee, by instrument in writing satisfactory to the City and the City and in form recordable among the land records shall, for itself and its successors and assigns, and expressly for the benefit of the City have expressly assumed all of the obligations of the Developer under this Agreement and agreed to be subject to all the conditions and restrictions to which the Developer is subject. •(iii) There shall be submitted to the City for review all instruments and other legal documents involved in effecting transfer, and if approved by City, its approval shall be indicated to the Developer in writing; (iv) The Developer and its transferee shall comply with such other conditions as the City may find desirable in order to achieve and safeguard the purposes of the TIP Act and this Agreement; and (v) In the absence of specific written agreement by the City to the contrary, no such transfer or approval by the City thereof shall be deemed to relieve the Developer or any other party bound in any way by this Agreement or otherwise with respect to the construction of the Minimum Improvements, from any of its obligations with respect thereto. (c) All restrictions on transfer of the Development, or any portion thereof, shall terminate at the time that the City has issued a Certificate of Completion for the Development. Section 8.3 Indemnification. (a) The Developer releases from and covenants and agrees that the City, its governing body members, officers, agents, including the independent contractors, consultants and legal counsel, servants and employees thereof (hereinafter, for purposes of this Section, collectively the "Indemnified Parties") shall not be liable for and agrees to indemnify and hold harmless the • Indemnified Parties against any loss or damage to property or any injury to or death of any 1674205v8 3 8