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<br /> <br /> <br /> <br />1.2) <br />Agreement <br />of the Transit Hub <br />Hub Improvements and <br />attached as B <br />reference and <br />Equitable . <br />(*Equitable") for constrUction and <br />Hub Improvements according to its terms. <br />conditions of Tr~~sit Hub Agreement are <br />~;;1:;.f'\I:~nditionsof In-the event <br />'.. . enforce the terms the Transit Agreement, <br />exceptions for unavoidable delay in Sect~n 6.9{ <br />Transit Hub Agreement, RTB shall, in addition to any other <br />remedies available, be entitled to reimbursement of its Grant <br />contributions in the manner provided in Section 3.5 the <br />Transit Hub Agreement. <br /> <br /> <br />1.3) Owners~jR - Notwithstanding the contribution by the <br />RTBto the City, the Transit. Hub Improvements shall not beic/ <br />construed as the property of the RTB. Therefore, nothing <br />contained in this.Agreement is intended to indicate or create <br />ownership of the-Transit Hub Improvements by or in the RTB or <br />CLty. <br /> <br />}.. 4:} Destruction - The City agrees that it shall contract <br />,with Equitable for the maintenance and protection of the <br />capital improvements made with funds provided pursuant to this <br />Agreement and shall require casualty insurance covering the <br />amortized value of these improvements. Should these capital <br />improvements be damaged:or destroyed and not rebuilt or <br />repaired, the City agrees that it shall rei~~urse the RTB to <br />the extent of any insurance proceeds received by the City from <br />insurance coverage on the Transit Hub Improvements. <br /> <br />1.5) Reimbursemen~ - In the event Equitable does not make <br />the Transit Hub Improvement5 available for use by regional <br />transit providers under contract to or funded by the RTB for a <br />period of twenty (20) years, the City shall reimburse RTB an <br />amount determined pursuant to Section 3.5 of the Transit Hub <br />Agreement. <br /> <br />ARTICLE :2. <br /> <br />DISBURSEMENT OF GRANT FUNDS <br /> <br />) <br /> <br />2.1) Approval of Plans - No disbursement of funds from the <br />Grant shall be paid prior to approval by the City and the RTS <br />of final plans for the Transit Hub Improvements. <br /> <br />2.2) Disbursement of the Grant - After the sale of bonds, <br />the Grant shall be paid to the City in increments as <br />construction of portions of the Transit Hub Improvements is <br /> <br />2. <br />