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<br />Jul-03-2002 11 ;49 <br /> <br />From-PETERSON FRAM BERGMAN <br /> <br />6511281753 <br /> <br />T-162 P 022/026 F-715 <br /> <br />conveyed to 1:he City on terms and conditions favorable to the City and for the . <br />purposes outlined in this Interim Agreement or as may be described in a final <br />Disposition and Development Agreement. <br /> <br />G. Term of Al!:reement. This Interim Agreement shall become effective upon <br />execution by City and Developer ("Commencement Date") and shall <br />terminate in twelve (12) months from such Commencement Date unless <br />terminated at an earlier date or extended as hereinafter provided: <br /> <br />I. DeveloDer Non-feasibility Determination. If at any time the <br />Developer determines that the development ofthe TCAAP Site is not <br />feasible for any of the following reasons, Developer can terminate this <br />Interim Agreement in its sole discretion: <br /> <br />a. Inability to negotiate with government agencies under <br />economical terms for athe disposition and c;)t1l11ttpremediatioJl <br />of P'&l'trfytheTCAAP Si1:e. <br /> <br />b. <br /> <br />Discovery of environmental conditions not currently anticipated <br />and deanupremediation costs associated therewith which would <br />make the development not economically feasible. <br /> <br />. <br /> <br />c. Failure of the City to adopt a land 1l3t plallComprehensivePlan. <br />Amendment consistem with the Vente> Plan. <br /> <br />t1TCAAP Utilization Plan. <br /> <br />d; Determine. p1.lrsuant to. the . feasibility studies :described: in. <br />Section 3.B .l.c.that privat~ de\'eiciprneIltbfthetcAAPSite bY <br />the Developer is not feasible..: <br /> <br />~. Failure to secure governmental approvals which would allow <br />the Project to proceed. <br /> <br />2. City Best Interest Determination. If, at anytime, the City determines <br />that it is not in the best interest of the City to obtain the TCAAP Site <br />for any of the following reasons, City can terminate this Interim <br />Agreement in its sole discretion: <br /> <br />o <br /> <br />. <br />