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welfare of the City and its citizens, strengthen the commercial sector of the City by attracting private
<br /> investment to prevent blight and deterioration, enhance the tax base of the City and pgovide employment
<br /> and generally to enhance the economy of the City and is made and entered into in the ibest interest of the
<br /> City.
<br /> NOW THEREFORE, in consideration of the promises and mutual covenants, and obligations of
<br /> the parties contained herein, and other good and valuable consideration, the receipt and sufficiency
<br /> whereof are hereby acknowledged,the parties hereto, intending to be legally bound,horeby covenant and
<br /> agree as follows:
<br /> ARTICLE I: DEFINITIONS
<br /> "Applicable Law"means all laws,statutes,acts,ordinances,rules,regulation¢,permits,licenses,
<br /> authorizations, directives, orders and requirements of all Governmental Authprities, that now or
<br /> hereafter during the term of this Agreement may be applicable to the Cit}, the Redeveloper,
<br /> and/or the Project, and the construction, maintenance,use and operation thergof, including those
<br /> relating to employees, zoning, building, health, safety, Hazardous Materials, tmd accessibility of
<br /> public facilities.
<br /> "Exterior Fagade" means the architectural character, general compo ition and general
<br /> arrangements of the exterior of the Project, and the adjacent plazas an pedestrian areas,
<br /> including the kind, color and texture of the building material and the type 4nd character of all
<br /> windows, doors, light fixtures, signs and appurtenant elements, visible from public streets and
<br /> thoroughfares.
<br /> "Final Site Plan" means the final plan for the Project or any Phase thereof which sets forth the
<br /> limits of the work to be done,the building locations, ingress and egress, loadimg areas,parking,if
<br /> any, landscaping, signage and adjoining streets including one or more elevations or sketches
<br /> showing the exterior features and designs of all the buildings or structures.
<br /> "Preliminary Plans" means plans and drawings, including a Preliminary Site Plan for the
<br /> Project which are preliminary to the Construction Plans, which plans and 4awings include but
<br /> are not limited to the limits of the work to be done, the location of buildin�s and all auxiliary
<br /> structures, ingress and egress, loading areas, parking, if any, proposed signae, landscaping and
<br /> one or more elevations showing the Exterior Architectural Appearance of the]Project or any phase
<br /> thereof.
<br /> "Preliminary Site Plan" means the site layout for the Project or any phase thereof including
<br /> parking, if any, buildings, ingress and egress, pedestrian and vehicular circulation, utilities,
<br /> grading, storm water detention, landscaping and service areas, and all proposed dedications and
<br /> easements.
<br /> "Project" means the shopping center and related facilities to be developed and constructed
<br /> by the Redeveloper as more fully on described on Exhibit 1 attached hereto and made a part
<br /> hereof.
<br /> "Project Revenues" means for a calendar year an amount equal to the s les tax transferred
<br /> by the State of Illinois Department of Revenue to the City that have been collected from
<br /> Ashley Furniture and other retailers located in the Project in that year les$ the total amount
<br /> DRAFT-City of Decatur/Harrison Management Group LLC Redevelopment Agreement 5
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