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<br />Proiect <br /> <br />Transferee <br /> <br />Bluff Block Housing Project <br /> <br />Bluff Block, LLC <br /> <br />Jackson Block Housing Proj ect <br /> <br />MDI Limited Partnership #70 <br /> <br />Bluff Block Commercial Project <br /> <br />Bluff Block, LLC <br /> <br />(b) Except as provided in Subsection (a) of tlns Section, the City shall be entitled to <br />require, as conditions to any approval of any sale, assignment, conveyance, use or transfer <br />requiring City approval under this Section that: . . <br /> <br />(i) Any proposed transferee shall have the qualifications and financial <br />responsibility, as determined by the City, necessary and adequate to fulfill the obligations <br />undertaken in this Agreement by the Developer; <br /> <br />(ii) . Any proposed transferee, ,by instrument in writing satisfactory to the City <br />and the City and in, form recordable among the land records shall, for itself and its <br />successors aIid assigns, and expressly for the benefit of the City have. expressly assumed <br />all of the 9bligations of the Developer under this Agreement and agreed to be subject to. <br />all the conditions and restrictions to which the Developer is subject: . <br /> <br />(iii) There shall be submitted to the City for review all instruments and other <br />legal documents involved in effecting transfer, and if approved by City, its approval shall <br />be indicated to the Developer in writing; <br /> <br />(iv) The Developer and its transferee shall comply with such other conditions . <br />as the City may find deSIrable in order to achieve and safegUard the purposes of the TIP <br />Act and this Agreement; 'and . . <br /> <br />(v) In the absence of spedfic written agreement by the City to the contrary, no <br />such transfer or approval by the City thereof shall be deemed to relieve the Developer or <br />any other party bound in any 'o/ay by this Agreement or otherwise with respect to the <br />construction of the Minimum hnprovements, from any- of its obligations with respect <br />thereto. <br /> <br />( c) All restrictio~s on transfer of tlle Development, or any portion thereof, shall <br />terminate at tlle time that the City has issued a Certificate of Completion for the Development. <br /> <br />Section 8.3 Indemnification. <br /> <br />(a) The Developer releases from and covenants and agrees that the City, its governing <br />body members, officers, agents, including the independent contr~ctors, consultants anq. legal <br />counsel, servants and employees thereof (hereinafter, for purposes of this Section, collectively <br />the. "IndemnifiedParties") shall not be liable for and agrees to indemnify and hold harmless the <br />Indemnified Parties against any loss or damage to property or any injury to or deatllofany <br />'person occurring at or about or resulting from any defect in the Development to the extent not' <br />attributable to the gross negligence or intentional misconduct of the Indemnified Parties. <br /> <br />1674205v9 <br /> <br />39 <br />