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2017-05-08_EDA_Packet
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2017-05-08_EDA_Packet
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Attachment A <br />269 Section 3.7. Closing <br />. Closing shall take place on or before July 1, 2017 (“Closing <br />270 <br />Date”), or such other date as may be agreed to by the Developer and Authority in writing. At <br />271 <br />Closing, the Developer must comply with the provisions of Section 5.1, in addition to providing <br />272 <br />the Note and Mortgage for the Purchase Price. <br />273 <br />274 Section 3.8. Closing Costs. <br />The Developer will pay: (a) the closing fees charged by its <br />275 <br />title insurance company or other closing agent, if any, utilized to close the transaction for <br />276 <br />Developer; (b) title services chosen by Developer pursuant to Section 3.2 above, including the <br />277 <br />premium for title insurance policy, if any, and (c) the recording fees for this Agreement and the <br />278 <br />deed transferring title to the Developer. Authority will pay all other fees normally paid by sellers, <br />279 <br />including (a) any transfer taxes, and (b) fees and charges related to the filing of any instrument <br />280 <br />required to make title marketable. Each party shall pay its own attorney fees. <br />281 <br />282 Section 3.9. Sewer and Water. <br />Authority warrants that city water is available at the lot <br />283 <br />line and city sewer is available at the curb. <br />284 <br />285 Section 3.10.ISTS Disclosure(is) (is not) <br />. Authority aware of any individual sewage <br />286 <br />treatment system on the property. Buyer is responsible for all costs of removing any individual <br />287 <br />sewage treatment system that may be discovered on the Property. <br />288 <br />289 Section 3.11. Well Disclosure. <br />Authority’s knowledge of wells on the Property is <br />290 <br />disclosed in Exhibit D. <br />291 <br />292 ARTICLE IV. <br />293 <br />294 CONSTRUCTION OF IMPROVEMENTS <br />295 <br />296 Section 4.1. Construction of Improvements <br />. The Developer shall construct the <br />297 <br />Improvements on the Property in accordance with the Guidelines and the Construction Plans, <br />298 <br />shall cause the Improvements to meet or exceed the Minimum Market Value specified in Section <br />299 <br />1.1, and shall maintain, preserve and keep the Improvements in good repair and condition. The <br />300 <br />Developer shall provide his or her proposed construction plans to the Authority for review; if the <br />301 <br />proposed construction plans are in conformity with this Agreement and the Guidelines, the <br />302 <br />Authority will approve the Construction Plans following review and comment by the <br />303 <br />Homeowner, if identified. <br />304 <br />305 Section 4.2. Construction Plans <br />. No building permit will be issued by the City unless <br />306 <br />the Building Plans are in conformity with the Guidelines, the Construction Plans, the <br />307 <br />Developer’s Minimum Market Value, any other requirements contained in this Agreement, and <br />308 <br />all local, state and federal regulations. The Developer shall provide the Authority with a set of <br />309 <br />Building Plans to be used in connection with any application for a building permit. The <br />310 <br />Authority shall, within 25 days of receipt of the Building Plans, review the same to determine <br />311 <br />whether the foregoing requirements have been met. If the Authority determines such Building <br />312 <br />Plans to be deficient, it shall notify the Developer in writing stating the deficiencies and the steps <br />313 <br />necessary for correction. Issuance of the building permit by the City shall be a conclusive <br />6 <br />498768v2 MNI RS275-12 <br /> <br />
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