5.0. EDSR 06-14-2004 - Laserfiche WebLink

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DR 41, (i) The EDA and its fiscal consultants will determine the Owner's cost of carrying the Property and determine the price per square foot set forth in the Price Schedule attached as Exhibit C based on: (1) the purchase price of the parcel paid by the Owner including any special assessments paid by Owner as part of the purchase price; (2) the amount of special assessments paid by Owner for public improvements installed after payment of the purchase price of the Property by the Owner and prior to the date hereof and the amount of pending future assessments to be paid by the Owner and not as part of the purchase price to be paid by any Buyer; (3) park dedication and surface water management fees per acre of the parcel not paid as part of the purchase price; (ii) The EDA and its fiscal consultants will determine the Buyer's need for assistance based on: (1) the Price Schedule; (2) comparable industrial property in the northwest metropolitan area; and (3) the difference between a reasonable commercial return per square foot for an investment comparable to the investment to be made by the Buyer in the Project and the expected return per square foot to be generated by the Project after factoring in the difference between(1) and(2) above (the "Gap"); (iii) At least jobs must be created by the Buyer in connection with the Project. If the Buyer agrees to create additional jobs the City may, but is not obligated to, consider granting Assistance in excess of the Gap. (iv) The City may, but is not obligated to, consider granting Assistance in excess of the Gap if the City determines the quality, purpose or size of the facility merits additional Assistance. 6. Brokers. (a) Owner and EDA represent and warrant that no broker brought about this Agreement. Owner and EDA agree that should any claim be made for commissions, finder's fees or similar charges as a result of the acts of Owner with respect to this Agreement or any Purchase Agreement, Owner will indemnify, defend and hold the EDA free and harmless from any and all liabilities and expenses in connection therewith. 1643057v3 4