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PF_3595_Contract
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PF_3595_Contract
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Last modified
7/17/2007 2:28:41 PM
Creation date
9/14/2005 1:54:22 PM
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Template:
Contracts/Agreements
Agreement/Contract Type
Development Contract
Contracts/Agreements - Department
Community Development
Purpose/Title
Roseville Twin Lakes, LLC
Contracts/Agreements - Planning File #
3595
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<br />( c) The Redeveloper has provided the City with an undertaking in the form of a <br />"written agreement, and with security all reasonably acceptable to the City, which will assure <br />payment by the Redeveloper of the security and payments set forth in Section 3.3. <br /> <br />(d) The Redeveloper has furnished the City with written notice acceptable to the City <br />indicating that, based upon the Redeveloper's own investigation, the Redeveloper is satisfied in <br />all respects with the nature and condition (environmental or otherwise) of such Parcel and <br />accepts the same AS IS and WHERE IS. <br /> <br />( e) The Redeveloper has furnished the City with written evidence acceptable to the <br />City that it has the financial ability to construct the Project. <br /> <br />(f) The Tax Increment District has been approved and a request for certification has <br />been made to the County Auditor. <br /> <br />Section 3.5. Consultation with the Redeveloper. In view of the fact that the City will be <br />requiring that the Redeveloper pay for all of the costs of acquisition, the Parties agree as follows: <br /> <br />(a) The City will not institute any condemnation proceeding without the prior written <br />assent or request of the Redeveloper (unless the City institutes a condemnation action for its own <br />purposes and not pursuant to a Redeveloper request under Section 3.2) and will consult with the <br />Redeveloper regarding selection of legal counsel to commence such proceeding. <br /> <br />(b) The City agrees that it will update the Redeveloper or its legal representative from <br />time to time as to the status of any condemnation action, that it will consult with the Redeveloper <br />regarding significant matters of strategy, and that it will obtain the Redeveloper's prior consent <br />before making or agreeing to make any material stipulation, concession or settlement. <br /> <br />Section 3.6. Discontinuation. <br /> <br />(a) The City shall discontinue acquisition by condemnation of a Parcel if the Parties <br />agree, prior to the date that title and possession have passed to the City, that due to cost, delay or <br />other factors, the Project can proceed without that Parcel. <br /> <br />(b) The City may discontinue acquisition by condemnation of a Parcel at any time <br />prior to the date that title and possession have passed to the City if any of the following events <br />occur: <br /> <br />(1) The Redeveloper fails to make any payment to the City required by <br />Section 3.3 or any of the events described in Section 8.1(c)(i) or (iv) occurs, <br /> <br />(2) The Redeveloper is in default of any other provision of this Agreement <br />and the Redeveloper fails to remedy such default within thirty (30) days of a written request by <br />the City, or <br /> <br />12 <br />
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