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CCP 08-18-1997
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CCP 08-18-1997
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<br /> ---- <br /> . <br /> Section 6.5. Assessment A~eement. Gn 6r b800r9 , 199'7(a) Prior to the <br /> commencement of the constnlction of any Phase, the Redeveloper and the Authority shall enter <br /> into an Assessment Agreement, substantially in the form of the Assessment Agreement contained <br /> in Schedule C of this Agreement. The Assessment Agreement shall establish a Minimum Market <br /> Value for the RedevBlsJlment Property (aRt! llet!.e,'elaper rrafler~''?) sf $ <br /> ssmmeaci"6 "Ii Jaall"],)' 1, 199--, aRt!. a HinimHfR Harket Va\ue for the Reaeveleflment <br /> Prel"elt). (8.R9 Ret!enloper l'reperty?) sf S 6sffilBeaerng SR J ~u&rY 1, <br /> 199_66fllinum.; until Ills TeI'ffillHltioR Date. Phase and Parcel on which the Phase is to be <br /> constructed and shall continue in effectuntiI the Tem1ination Date. The Minimum Market Value <br /> for each Phase shall be based on the Construction Plans for such Pbase and shall be re\~ewed and <br /> approved hy lhe C01Jnty Assessor oftne County a< reasonable On or before . - <br /> 1997. the A1Jthority and the Redevelooer shall enter into an Assessment Aweement establishine <br /> a Minimum Market Value of $ for the Prior Redeveloper Improvements <br /> until the Termination Date. <br /> (b) It is intended that the Assessment AiITec.rnent for cach Parcel and for the <br /> Redcvelof)er Propcrtv shall be binding on thc Redeveloper its lenders transferces their <br /> S\lccessors and assigns ,md the owners of any right. \itk or interest in s\lch propertY \lntil the <br /> Termioation Date. Therefore "ith respect to anY Parcel and the Redevelooer ProperlY. the <br /> Redeveloper shall cause to be executed and recorded against the s\lQject propertv such <br /> aWeen1cnts as the Authority may reasonably require from Redeveloper's lenders transferees Qr . <br /> Jhird parties a?reeing to be b01lnd ny the tcrms of the Assessment AiITecrnent The seC\lring of <br /> such ai:reements shall be a condition precedent to the reduction of the Asse<<ments on such <br /> 'Parcel or the Redeveloper 'Property pursl1~nt to Section 3.6. <br /> - <br /> - <br /> I <br /> I <br /> I <br /> I <br /> -. <br /> 24 <br /> 60/2:0'd 61'"0<'. <'.2:6 2:"19 '~'d '3~13a ~ A3,a~da 1 <br /> 0S;9"1 <'.66"1-n-!)f1lJ <br />
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