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<br /> the foregoing net worth requirements, the Authority shall consent to the proposed transfer in the
<br /> event that the proposed transferee provides a financing commitment, letter of credit or other
<br /> credit enhancement acceptable to the Authority in its reasonable discretion or otherwise
<br /> demonstrates to the Authority, in its sole discretion, that such transferee has, or has access to,
<br /> financial resources necessary to complete the development as required herein of the Phase or
<br /> Parcel which is proposed to be transferred and otherwise to perform the obligation of the
<br /> Redeveloper herein as to such Phase or Parcel. In the event of a consolidation, merger or sale in
<br /> accordance with this subsection the Redeveloper shall be discharged from liability hereunder
<br /> with respect to the interest transferred and shall not be liable for any actions of th9., successor
<br /> entity or purchaser or have any liability under tbis Agreement with respect to matters arising
<br /> subsequent to such consolidation, merger or sale which relate to the interest so transferred.
<br /> Section 8.3. Aporovals, Any approval required to be given by the Authority under this
<br /> Article VITI of this Agreemenl may be denied only in the event that the Authority reasonably
<br /> detennines that the ability of the Redeveloper to perform its obligations under this Agreement
<br /> will be materially impaired by the action for which approval is sought,
<br /> Section 8.4, Release and Indemnification Covenants. (a) Except for any willful
<br /> misrepresentation or any willful or wanton misconduct or negligence of the following narned
<br /> parties, the Redeveloper releases from and covenmts and agrees that the Authority and the
<br /> governing body members, officers, agents, servants and employees thereof shall not be liable for .
<br /> and agrees to indemnify and hold harmless the Authority and the governing body members,
<br /> officers, agents, servants and employees thereof against any loss or damage to property or any
<br /> injury to or death of any person occurring at or about or resulting from any defecl in the
<br /> Minimum Improvements, excluding any Public Improvements on or about the Redevelopment
<br /> Property.
<br /> (b) Except for any willful misrepresentation or any willful or wanton misconduct or
<br /> negligence of the following narned parties, the Redeveloper agrees to protect and defend the
<br /> Authority and the City and the governing body members, officers, agenls, servants and
<br /> employees thereof, now or forever, and further agrees to hold the aforesaid harmless from any
<br /> claim, demand, suit, action or other proceeding whatsoever by any person or entity whatsoever,
<br /> other than the Redeveloper, arising or purportedly arising from this Agreement, or the
<br /> transactions contemplated hereby or the acquisition, construction, installation, ownership, and
<br /> operation of the Minimum Improvements, excluding any Public Improvements on or about the
<br /> Redevelopment Property.
<br /> (c) The Authority and the governing body members, officers, agents, servants and
<br /> employees thereof shan not be liable for any damage or injury to the persons or property of the
<br /> Redeveloper or its officers, agents, servants or employees or any other person who may be about
<br /> the Redevelopment Property, Adjacent Property or Minimum Improvements due to any act of
<br /> negligence of any person other than the Authority, its governing body members, officers, agents,
<br /> servants and employees. .
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<br /> 1;:~'d 61"01. 1.<::6 1;:i9 '~'d '3~I3a ~ ^31O~~a ~1;::Si 1.66i-6i-d3S
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