7.3 SR 05-15-2023 - Laserfiche WebLink

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TABLE OF CONTENTS Page ARTICLE I DEFINITIONS............................................................................................. 1 Section 1.1 Definitions........................................................................................ 1 ARTICLE II REPRESENTATIONS AND WARRANTIES ............................................. 4 Section 2.1 Representations and Warranties of the City ....................................... 4 Section 2.2 Representations and Warranties of the Developer ............................. 4 ARTICLE III UNDERTAKINGS BY DEVELOPER AND CITY ...................................... 6 Section 3.1 Construction of Project and Reimbursement of Project Cost ............. 6 Section 3.2 Limitations on Undertaking of the City ............................................. 6 Section 3.3 Commencement and Completion of Construction ............................. 6 Section 3.4 Damage and Destruction................................................................... 6 Section 3.5 Change in Use of Project.................................................................. 7 Section 3.6 Prohibition Against Transfer of Project and Assignment of Agreement........................................................................................ 7 Section 3.7 Real Property Taxes.......................................................................... 7 Section 3.8 Tax Abatement Program................................................................... 8 Section 3.9 Business Subsidy Act........................................................................ 9 Section 3.10 Legal and Administrative Expenses ................................................ 10 Section3.11 Records.......................................................................................... 11 ARTICLE IV EVENTS OF DEFAULT............................................................................ 12 Section 4.1 Events of Default Defined............................................................... 12 Section 4.2 Remedies on Default....................................................................... 13 Section 4.3 No Remedy Exclusive.................................................................... 13 Section 4.4 No Implied Waiver......................................................................... 13 Section 4.5 Agreement to Pay Attorney's Fees and Expenses ............................ 13 Section 4.6 Release and Indemnification Covenants .......................................... 13 ARTICLE V ADDITIONAL PROVISIONS................................................................... 15 Section5.1 Insurance........................................................................................ 15 Section 5.2 Conflicts of Interest........................................................................ 16 Section 5.3 Titles of Articles and Sections......................................................... 17 Section 5.4 Notices and Demands..................................................................... 17 Section5.5 Counterparts................................................................................... 17 Section 5.6 Law Governing............................................................................... 17 Section5.7 Duration......................................................................................... 17 Section 5.8 Provisions Surviving Rescission or Expiration ................................ 17 Section 5.9 Superseding Effect.......................................................................... 17 Section 5.10 Recording....................................................................................... 18 Section 5.11 Relationship of Parties.................................................................... 18 Section 5.12 Interpretation; Concurrence............................................................ 18 -I- EL 185\74\870137.v5