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Last modified
2/16/2024 12:32:50 PM
Creation date
2/16/2024 12:31:54 PM
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Planning Files
Planning Files - Planning File #
1481
Planning Files - Type
Planning-Other
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(e) The Redeveloper will use its best efforts to construct the Minimum <br />Improvements in accordance with all applicable local, state or federal energy - <br />conservation laws or regulations. <br />(f) The Redeveloper will use its best efforts to obtain, in a timely <br />manner, all required permits, licenses and approvals, and will meet, in a timely <br />manner, all requirements of all applicable local, state and federal laws and <br />regulations which must be obtained or met before the Minimum Improvements may <br />be lawfully constructed. <br />(g) Neither thA execution and delivery of this Agreement, the consum- <br />mation of the transactio , contemplated hereby, nor the fulfillment of or compli- <br />ance with the terms and . )nditions of this Agreement is prevented, limited by or <br />conflicts with or results in a breach of, the terms, conditions or provisions or any <br />corporate restriction or any evidences of indebtedness, agreement or instrument of <br />whatever nature to which the Redeveloper is now a party or by which it is bound, <br />or constitutes n default under any of the foregoing. <br />(h) In the event that the Redeveloper fails to proceed with construction <br />of the Minimum Improvements due to an inability to obtain financing for such <br />construction, or for any other reason prior to the City's providing of any financial <br />assistance to the proposed development, the Redeveloper will pay to the City on <br />demand by the City all of the City's out-of-pocket expenses including reasonable <br />attorney's fees, up to a maximum of $20,000, incurred in connection with the <br />transactions contemplated by this Agreement. In the event that this Agreement is <br />terminated as the result of an Event of Default by Redeveloper the above - <br />mentioned $20,000 limit shall not be applicable. If this Agreement is terminated as <br />the result of an Event of Default by the City, the Redeveloper shall have no <br />obligations under this Section 2.2(h). <br />L <br />
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