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TABLE OF CONTENTS Page Introduction................................................................................................................................... 1 ARTICLE I DEFINITIONS..... ......... ............ ...... .......... .......... .............. ........................ ....... 2 Section 1.1. Definitions............................................................................................. 2 ARTICLE II REPRESENTATIONS ... ...................... .................. ............ ............ ................. 7 Section 2.1. Representations of th.e City .................................................................. 7 Section 2.2. Representations ofth.e Developer ........................................................ 8 ARTICLE ill ACQUlSmON AND CONVEYANCE OF PROPERTY; CITY ASSISTANCE... ............. ..... ..................... ............ .......... .............. ............. .... 10 Section 3.1. Development Proposal Generally...................................................... 10 Section 3.2. Development Proposal Specifically................................................... 10 Section 3.3. Developer Actions ............................................................................. 12 Section 3.4. City Actions ....................................................................................... 13 Section 3.5. Conditions Precedent to City's Initiation of Eminent Domain Action................................................................................................. 15 Conveyance of Parcels .......... .... .... ............. ........................... ............. 16 Schedule of Phases and Sub-Phases .................................................. 17 Reimbursement-for Public Development Costs................................. 17 City Rights to Acquire Acquisition Property from Developer .......... 17 Section 3.6. Section 3.7. Section 3.8. Section 3.9 Section 3.10 Section 3.12 City Costs.. ........ .............. ............ ........ ..... ........ ..... .................. ........ ... 17 Business Subsidy Law....................................................................... 17 ARTICLE N CONSTRUCTION OF MINIMUM IMPROVEMENTS .............................. 19 Section 4.1. Construction and Operation of Minimum Improvements.................. 19 Section 4.2. Construction Plans ............................................................................. 19 Section 4.3. Timing of Construction....................................................................... 20 ARTICLE V IN"SURANCE.. ... ........ ..... ................. ..... ...... .......... ............ ...................... ....... 20 Section 5.1. Insurance ............................................................................................ 20 ARTICLE VI TAXES; TAX IN'CREMENT ........................................................................ 21 Section 6.1. Real. Property Taxes .................................. ......................................... 21 Section 6.2. Creation of Tax Increment Districts .................................................. 21 ARTICLE VII MORTGAGE FIN'ANCIN'G .......................................................................... 22 Section 7.1. Limitation Upon Encumbrance of Property ....................................... 22 Section 7.2. Approval of Mortgage........ ................. ....................................... ........ 22 Section 7.3. Modification for th.e Benefit of Mortgagees ..................................... 22 ARTICLE VITI PROIDBmONS AGAIN'ST ASSIGNMENT AND TRANSFER; INDEMNIFICA nON....... .............. .... ......... ......... ........ ..... ......................... ... 23 Section 8.1.' Transfer of Substantially All Assets .................................................. 23