Laserfiche WebLink
<br /> . <br /> "City Purchase Agreement" means that certain Purchase and Sale Agreement dated as of <br /> September -' 1997. between the Redeveloper and the City under which the City has agreed [0 <br /> sell and the Redeveloper has agreed to purchase the City Property. <br /> "Condemnation Award" means the amount remaining from an award to the Redeveloper <br /> for the acquisition of title to and possession of the Redevelopment Property or Minimum <br /> Improvements. or any material part thereof; after deducting all expenses (including fees and <br /> disbursements of counsel) incurred in the collection of such awaxd. <br /> "Construction Plans" means the site plan, utility plan, grading and drainage plan, <br /> landscape plan, elevations drawings and related documenls on the construction work to be <br /> perfonned by the Redeveloper on the Redevelopment Property, together with the resolution of <br /> the Authority approving such plans. <br /> "County" means the County ofRam:;ey, <br /> "Event of Default" means an action by the Redeveloper listed in Article IX of this <br /> Agreement <br /> "Highway 96 Improvements" means that portion of the Public Improvements described <br /> . as such on the attached Schedule B. <br /> "Holder" means the owner of a Mortgage. <br /> "Market Value" means the market value of real property as detennined by the County <br /> Assessor of the County for real estate tax purposes. <br /> "Minimum Improvements" means the improvements to be constructed by Redeveloper on <br /> the Redevelopment Property consisting of Phase II, Phase m, and Phase IV, all to be constructed <br /> in accordance with approved Construction Plans, <br /> "Mortgage" means any mortgage made by the Redeveloper which is sccured, in whole or <br /> in part, with the Redevelopment Property and which is a pemlitted encumbrance pursuant to the <br /> provisions of Articles VII and VITI of this Agreement, <br /> "Net Proceeds" means any proceeds paid by an insurer to the Redeveloper or the <br /> Authority under a policy or policies of insurance required to be provided and maintained by the <br /> Redeveloper pursuant to Article V of this Agreement and remaining after deducting all expenses <br /> (including fees and disbursements of counsel) incurred in the collection of such proceeds. <br /> "Parcel" means 11 parcel of the Redevelopment Property on which a Phase is to be <br /> construeted. <br /> . ''Phase'' means either Phase II, Phase ill or Phase IV, as approved in the City's Planning <br /> Case Number 96-12, <br /> 4 <br /> GO'd GPOOl. aG c:t9 'l:f'd '3)H3Q '8 ^:na~a H:St l.6Gt-6t-d3S <br />