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TABLE OF CONTENTS ~ Introduction...................................................................................................................... .............. 1 ARTICLE I DEFINITIONS...... ...... ..... ....... .................. ..... ......... .................. ........ ........ ....... 3 Section 1.1. Definitions............................................................................................3 ARTICLE II REPRESENTATIONS .... ....................... ..... ......... ......................... .................. 7 Section 2.1. Representations of the City .................................................................. 7 Section 2.2. Representations of the Developer ........................................................ 8 ARTICLE III Section 3.6. Section 3.7. Section 3.8. Section 3.9 Section 3.1 0 ACQUISITION 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 .......... 18 City Costs............. ........ ...................... ............ .................................... 18 ARTICLE IV 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 INSURANCE................................................ ................................................. 20 Section 5.1. Insurance ............................................................................................20 ARTICLE VI TAXES; TAX INCREMENT ........................................................................ 21 Section 6.1. Real Property Taxes ........................................................................... 21 Section 6.2. Creation of Tax Increment Districts .................................................. 21 ARTICLE VII MORTGAGE FINANCING .......................................................................... 22 . Section 7.1. Limitation Upon Encumbrance of Property .......................................22 Section 7.2. Approval of Mortgage........................................................................ 22 Section 7.3. Modification for the Benefit of Mortgagees .....................................22 ARTICLE vm PROHIBITIONS AGAINST ASSIGNMENT AND TRANSFER; INDEMNIFICATION...... ..... ....... .................. ........... ........ ................ ...... ....... 23 Section 8.1. Transfer of Substantially All Assets .................................................. 23