6.1. SR 07-16-2007 - Laserfiche WebLink

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ARTICLE III UNDERTAKINGS BY DEVELOPER AND CITY Section 3.1 Construction of Proiect and Reimbursement of Tax Abatement Property Cost. (1) The costs of the construction of the Project shall be p'!tit;;;\>y the Developer. The Developer will construct the Project in accordance with the appro~d;ccofistruction plans and at all times prior to the termination of this Agreement will operate~~~[Q}aintain, preserve and keep the Project or cause the Project to be maintained, preserved ~~Kepi:1il:4,;Q1 the appurtenances and every part and parcel thereof, in good repair and condition: .:::::C~ (2) Upon completion of the Project and;::1bb;iSsion to the"e~i::::ef a settlement statement for the purchase of the Abatement,~erty actlLally incurred ;~Q:;p,!id by the Developer or its designee, the City shall reimB~Jhe D~;~loper for su.6sts of the Abatement Property in an amount not to exceed $2J~ti~..~~he"Reimburserflent Amount") pursuant to the Abatement Program as provided in Sectiofi:1i~~ Section 3.2 Limitations on Unde~~~~~f the Citv.N~!~~standing the provisions of Section 3.1, the City shall have no obliga~:~m:t~Bi1Ilburse the '~~eloper for the costs of the Project, if the City, at the time or times such::i:eayme~m..~~~t.~:Qe mad~is entitled under Section 4.2 'C~"~, .-=~' '-S':'*'0";""';'<:~--- to exercise any of the remedies set forth there!!:g a~#resiltt:,~l'liEvent of Default which has not been cured..,;::;;':::::::. ~.~ ~m "~~*.,, "''''_''''''_'_''''''c Section 3.3G;~encem~ii:i and Compl1iion of Construction. The Developer shall complete the Project by.A2I 30,~~.92. All work ~C:respect to the Project to be constructed or provided by theJ2~velopei:~1l;~:ei1f~~ity::~Ith the construction plans as submitted by the Developer.~fiiii~~~~~tby t~X"u :;' -~-",^ .,;'!2thing in this .A;i~~mentSi~~!:ge deemed to impair or limit any of the City's rights or respbn~1~~s under its ZO~!~~ laws '~fconstruction permit processes. ."^.m~,',',w._m '," SectiOij~~t!- Damageiiid Destruction. In the event of damage or destruction of the Project the Dev~l~p~r shall rj~ir or rebuild the Project. ".""".,,,~_ .__e;-' ,,""_. .-=._- Section 3.5 Cttmjiein Use ofProiect. The City's obligations pursuant to this Agreement shall be subject to the.c:Untinued operation ofthe Project by the Developer. Section 3.6 Prohibition Against Transfer ofProiect and Assignment of Agreement. The Developer represents and agrees that prior to the termination date of this Agreement the Developer shall not transfer the Project or any part thereof or any interest therein, without the prior written approval of the City. The City shall be entitled to require as conditions to any such approval that: 2045533v2 5