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<br />M,y-IT-1004 15:39 <br /> <br />From-PETERSON FRAM BERGMAN <br /> <br />6511281T53 <br /> <br />T-124 POIO/OI5 F-TB9 <br /> <br />and decisions in connection therewith, The City and Developer understand that . <br />the property in question is currently owned by the United States Government and <br />that the purpose of this Interim Agreement is to assist in negotiations with said <br />Government to have the site conveyed to the City on terms and conditions <br />favorable to the City and for the purposes outlined in this Interim Agreement or as <br />may be described in a final Disposition and Development Agreement. <br /> <br />8:,0 <br /> <br />Term of Al!reement, This Interim Agreement shall b~GemG ~ffeGtiv~ \1pOO <br />cx~mltiell 9);- C~. and Dll'o'el9flGr ("CemmeBcemeot Date") aAQ shall tllHDinaW-ia <br />t\\lmty fuur (21) m9nths-froffl ~h Cefflmlm~~m<:nt Datecoutinue from the !1m <br />hereof until Au!!ust 31. 200~ unless terminated at an earlier date as hereinafter <br />provided, or extended by murual consent of the palties;, <br /> <br />A, Developer Non-feasibility Determination" If at any time the Developer <br />determines that the development of the AH Reuse Area is not feasible for <br />any of the following reasons, Developer can terminate this Interim <br />Agreement in its sole discretion: <br /> <br />I. Inability to negotiate with government agencies under economical <br />terms for the disposition and remediation of the AH Reuse Area. <br /> <br />2, <br /> <br />Discovery of environmental conditions not currently anticipated and <br />remediation costs associated therewith which would make the <br />development not economically feasible, <br /> <br />. <br /> <br />3, FailUre of the City to adopt a Comprehensive Plan Amendment censistcRt with tlu) Vllat& <br />Reuse Plan for the AH Reuse Area. <br /> <br />4. Detennination that private development of the AH Reuse Area by <br />Developer is not feasible. <br /> <br />5. Failure to secure governmental approvals which would allow <br />environmental remediation and redevelopment to occur. <br /> <br />6.- Failure of Developer and City to agree to proceed with each step of <br />the proposed planning process, as outlined .on Exhibit D attached <br />hereto. <br /> <br />B, City Best Interest Determination. If, at any time, the City determines that <br />it is not in the best interest of the City to obtain the AH Reuse Area fol' any <br />of the following reasons, City can terminate this Interim Agreement in its <br />sole discretion: <br /> <br />. <br />