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TABLE OF CONTENTS <br />Page <br />ARTICLE I <br />DEFINITIONS .................................................................. ............................... <br />1 <br />Section1.1 <br />Definitions ............................................................. ............................... <br />1 <br />ARTICLE II <br />REPRESENTATIONS AND WARRANTIES ................. ............................... <br />3 <br />Section 2.1 <br />Representations and Warranties of the City .......... ............................... <br />3 <br />Section 2.2 <br />Representations and Warranties of the Developer ............................... <br />3 <br />ARTICLE III <br />UNDERTAKINGS BY DEVELOPER AND CITY ........ ............................... <br />5 <br />Section 3.1 <br />Construction of Project and Reimbursement of Tax Abatement <br />PropertyCost ........................................................ ............................... <br />5 <br />Section 3.2 <br />Limitations on Undertaking of the City ................ ............................... <br />5 <br />Section 3.3 <br />Commencement and Completion of Construction ............................... <br />5 <br />Section 3.4 <br />Damage and Destruction ....................................... ............................... <br />5 <br />Section 3.5 <br />Change in Use of Project ...................................... ............................... <br />5 <br />Section 3.6 <br />Prohibition Against Transfer of Project and Assignment of <br />Agreement............................................................. ............................... <br />5 <br />Section 3.7 <br />Real Property Taxes .............................................. ............................... <br />6 <br />Section 3.8 <br />Business Subsidies Act ......................................... ............................... <br />6 <br />Section 3.9 <br />Duration of Abatement Program ........................... ............................... <br />8 <br />ARTICLE IV <br />EVENTS OF DEFAULT .................................................. ............................... <br />9 <br />Section 4.1 <br />Events of Default Defined .................................... ............................... <br />9 <br />Section 4.2 <br />Remedies on Default ............................................. ............................... <br />9 <br />Section 4.3 <br />No Remedy Exclusive ........................................... ............................... <br />9 <br />Section 4.4 <br />No Implied Waiver ............................................... ............................... <br />9 <br />Section 4.5 <br />Agreement to Pay Attorney's Fees and Expenses ............................. <br />10 <br />Section 4.6 <br />Release and Indemnification Covenants ............. ............................... <br />10 <br />ARTICLE V <br />ADDITIONAL PROVISIONS ....................................... ............................... <br />11 <br />Section 5.1 <br />Conflicts of Interest ............................................. ............................... <br />11 <br />Section 5.2 <br />Titles of Articles and Sections ............................ ............................... <br />11 <br />Section 5.3 <br />Notices and Demands ......................................... ............................... <br />11 <br />Section5.4 <br />Counterparts ........................................................ ............................... <br />11 <br />Section 5.5 <br />Law Governing ................................................... ............................... <br />11 <br />Section5.6 <br />Duration .............................................................. ............................... <br />12 <br />Section 5.7 <br />Provisions Surviving Rescission or Expiration ... ............................... <br />12 <br />487587v2 JSB EL185 -45 <br />