8.3 SR 04-04-2022 - Laserfiche WebLink

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(5) The provisions of this Section 3.3 shall be incorporated into the Declaration of in substantially the form attached as Exhibit F and recorded against the Development Property prior to the issuance of the TIF Note. Section 3.4. Developer to Pay City's Fees and Expenses. The Developer will pay all of the City's reasonable Administrative Costs (as defined below). Developer has deposited $10,000 with the City for the payment or reimbursement of the City's Administrative Costs (as defined below). For the purposes of this Agreement, the term "Administrative Costs" means out of pocket costs incurred by the City together with staff and consultant (including legal, financial and municipal adviser, etc.) costs of the City, all attributable to or incurred in connection with the establishment of the TIF District and the TIF Plan and review, negotiation and preparation of this Agreement (together with any other agreements entered into between the parties hereto contemporaneously therewith) and review and approvals of other documents and agreements in connection with the Project. The term "Administrative Costs" shall also include the costs of the engineering consultant selected by the City in its sole discretion to inspect the site remediation in accordance with Section 3.7. In addition, certain engineering, environmental advisor, legal, land use, zoning, subdivision and other costs related to the development of the Development Property are required to be paid, or additional funds deposited in escrow, in accordance with the City's fee schedule. If at any time the City determines that the amount deposited by Developer will be insufficient to pay the City's fees and expenses listed above, the City may notify the Developer in writing as to any additional amount required to be deposited. The Developer must deposit such additional funds within 10 business days after receipt of the City's notice. The City will notify the Developer at any point when it has received invoices for Administrative Costs equal, in aggregate, to $10,000 and the Developer shall notify the City whether it is willing to incur additional Administrative Costs. If the Developer fails to notify the City of its willingness to continue to incur additional Administrative Costs within 10 days, the City will instruct all Administrative Cost service providers to discontinue further work and submit final invoices which the Developer shall reimburse the City for reasonable Administrative Costs within 10 business days after receipt of the City's notice even if the remaining Administrative Costs exceed $10,000 as a result of work done prior to the notification to discontinue work. Any funds deposited by Developer and not expended by the City for its Administrative Costs will be returned to the Developer up the issuance of the Certificate of Completion. This Section 3.4 shall survive termination of this Agreement and shall be binding on the Developer regardless of the enforceability of any other provision of this Agreement. Section 3.5. Compliance with Environmental Requirements. (1) The Developer shall comply with all applicable local, state, and federal environmental laws and regulations, and will obtain, and maintain compliance under, any and all necessary environmental permits, licenses, approvals or reviews. (2) The City makes no warranties or representations regarding, nor does it indemnify the Developer with respect to, the existence or nonexistence on or in the vicinity of the Development Property or anywhere within the TIF District of any toxic or hazardous substances 10 EL185-70-769416.d7