R2014-04 AUTHORIZING CITY OF DECATUR / HARRISON MANAGEMENT GROUP LLC REDEVELOPMENT AGREEMENT

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M ARTICLE XVI: TERMS OF THE AGREEMENT m 16.1 The terms and conditions set forth in this Agreement and exhibits attached hereto supersede all prior oral and written understandings and constitute the entire agreement Mbetween the City and the Redeveloper with respect to the subject matter hereof. 4 16.2 Wherever possible, each provision hereof shall be interpreted in such manner as to be Y effective and valid under applicable law, but in case any one or more of the provisions contained herein shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such provision shall be ineffective to the extent, but only to the extent, of such invalidity, illegality, or unenforceable provision or provisions or any other provisions hereof, unless such a construction would be unreasonable. 16.3 This Agreement may be executed in one or more counterparts, each of which shall be considered an original instrument, but all of which shall be considered one and the same Agreement, and shall become binding when one or more counterparts have been signed by each of the parties hereto and delivered to each of the parties hereto. 16.4 This Agreement shall be governed by and construed in accordance with the laws of the State of Illinois. 16.5 The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction will be applied against either party, regardless of which is the drafter. 16.6 All headings contained in this Agreement are for convenience of reference only and shall not be interpreted to expand or limit any provision hereof. 16.7 Each of the above said parties represents and warrants that each of the above said parties has the right and legal authority to execute this Agreement. Each of the above said parties further acknowledges and represents to one another that the representatives who execute this Agreement have the authority under the law to execute this Agreement and to bind their respective principals to the obligations under this Agreement and further, that any legal requirements conferring authority upon the representatives who execute this Agreement have been met by each of the respective parties as required by law. ARTICLE XVII: PROJECT REVENUE FINDINGS 17.1 Economic Incentive Agreement. In connection with the Project Revenues under the Agreement, the Agreement is determined to constitute an "economic incentive agreement" under Section 8-11-20 of the Illinois Municipal Code and the City's Home Rule powers, and the City Council makes related findings, as follows: 17.2 Findings. Project Site is currently vacant and has remained vacant for at least one year not vacant and has development thereon and: (A)the Project, as set forth in this Agreement, is expected to create or retain job opportunities within the City; City of Decatur/Harrison Management Group LLC Redevelopment Agreement 22