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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) Withhold any Certificate of Completion. <br /> <br />(d) Suspend any payments due to the Redeveloper, including those due under any Tax <br />Increment Note issued in accordance with this Agreement. <br /> <br />( e) Utilize any payments otherwise due to the Redeveloper, including those due under <br />any Tax Increment Note, to cover the payment of any amounts due from the Redeveloper. <br /> <br />(f) Take whatever action, including legal, equitable or administrative action, which <br />may appear necessary or desirable to the City, including any actions to collect any payments due <br />under this Agreement, or to enforce performance and observance of any obligation, agreement, or <br />covenant of the Redeveloper under this Agreement; provided, however, that nothing in this <br />Agreement shall be deemed to grant to the City the right to obtain a court order compelling the <br />construction of Site Improvements or Public Improvements if the Redeveloper has not already <br />undertaken such construction or compelling the construction of any Minimum Improvements. <br /> <br />Section 8.4. Redeveloper Remedies on Default. Whenever any Event of Default referred <br />to in Section 8.2 occurs, the Redeveloper may take anyone or more of the following actions after <br />providing thirty (30) days' written notice to the City of the Event of Default, but only if the Event <br />of Default has not been cured within said thirty (30) days, or if the Event of Default is not <br />reasonably susceptible to being cured within said thirty (30)-day period (whether due to <br />Unavoidable Delays or otherwise), and the City fails to provide the Redeveloper with written <br />assurances, deemed satisfactory in the reasonable discretion of the Redeveloper, that the Event of <br />Default will be cured as soon as reasonably possible: <br /> <br />(a) Suspend its performance under this Agreement until it receives assurances from <br />the City, deemed adequate by the Redeveloper, that the City will cure its default and continue its <br />performance under this Agreement. <br /> <br />(b) Take whatever action, including legal, equitable or administrative action, which <br />may appear necessary or desirable to the Redeveloper, including any actions to collect any <br />payments due under this Agreement, or to enforce performance and observance of any obligation, <br />agreement, or covenant of the City under this Agreement. <br /> <br />Section 8.5. No Remedy Exclusive. No remedy herein conferred upon or reserved to the <br />Redeveloper or the City is intended to be exclusive of any other available remedy or remedies, <br />but each and every such remedy shall be cumulative and shall be in addition to every other <br />remedy given under this Agreement or now or hereafter existing at law or in equity. No delay or <br />omission to exercise any right or power accruing upon any default shall impair any such right or <br />power or shall be construed to be a waiver thereof, but any such right and power may be <br />exercised from time to time and as often as may be deemed expedient. <br /> <br />35 <br />
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