1999-08-25 Packet - Laserfiche WebLink

Home Browse Search

PROHIBITIONS AGAINST ASSIGNMENT OF AGREEMENT. Developer represents and agrees that prior to the completion of the Developer improvements as certified by the City: 1. Except by way of security for, and only for the purpose of obtaining financing necessary to enable the Developer to perform its obligations with respect to the construction of the improvements under this Agreement and any other purpose authorized by this Agreement, the Developer (except as so authorized) will not make or create, or suffer to be made or created, any total or partial sale, assignment, conveyance, or transfer in any other mode or form, with respect to this Agreement or any interest therein, or any contract or agreement to do any of the same, without the prior written approval of the City. 2. In the absence of specific written agreement by the City to the contrary, no such transfer or approval by the City shall be deemed to relieve Developer from any of its obligations. In the event that the City approves a substitute Developer and the property is transferred to said substitute, the City agrees to relieve the Developer of liability from performance as described in this Contract. Said substitute shall assume all responsibilities and rights of the Developer under this Contract. J. MISCELLANEOUS PROVISIONS. 1. Reimbursement of Costs for Defense. The Developer agrees to reimburse the City for all costs incurred by the City in defense of enforcement of this Contract, or any portion thereof, including court costs and reasonable engineering and attorney's fees. 2. Validity. If any portion, section, subsection, sentence, clause, paragraph, or phrase in this Contract is for any reason held to be invalid by a court of competent jurisdiction, such decision shall not affect or void any of the other provisions of the Development Contract. 3. Waiver. The action or inaction of the City shall not constitute a waiver or amendment to the provisions of this Agreement. To be binding, amendments or waivers shall be in writing, signed by the parties, and approved by written resolution of the City Council. The City's failure to promptly take legal action to enforce this Agreement shall not be a waiver or release. 4. Binding Effect. The terms and provisions hereof shall be binding upon and inure to the benefit of the heirs, representatives, successors, and assigns of the parties hereto and shall be binding upon all future owners of all or any part of the Subdivision and shall be deemed covenants running with the land. 5. Notice. Whenever in this Contract it shall be required or permitted that notice or demand be given or served by either party to this Contract to or on the other party, such notice or demand shall be delivered personally or mailed by United States 8