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R2013-91 AUTHORIZING EXECUTION OF THE REDEVELOPMENT AGREEMENT PREVIOUSLY RECEIVED AND PLACED ON FILE Southside
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R2013-91 AUTHORIZING EXECUTION OF THE REDEVELOPMENT AGREEMENT PREVIOUSLY RECEIVED AND PLACED ON FILE Southside
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7/30/2025 11:58:31 AM
Creation date
8/17/2015 8:59:12 AM
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Resolution/Ordinance
Res Ord Num
R2013-91
Res Ord Title
AUTHORIZING EXECUTION OF THE REDEVELOPMENT AGREEMENT PREVIOUSLY RECEIVED AND PLACED ON FILE - SOUTHSIDE REDEVELOPMENT PROJECT AREA - POLICE FACILITY
Department
Police
Approved Date
9/3/2013
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forty-five(45) days in advance of the proposed effective date of such termination <br /> if such default is not capable of being cured by the payment of money <br /> ("Termination Notice Period"). The provisions of Section 14.8 below shall apply <br /> if, during such thirty (30) or forty-five (45) day Termination Notice Period, any <br /> Leasehold Mortgagee shall: <br /> (i) Notify City of such Mortgagee's and/or Leasehold Mortgagee's desire to <br /> nullify such Termination Notice,and <br /> (ii) pay or cause to be paid all rent, additional rent, and other payments then <br /> due and in arrears as specified in the Termination Notice to such <br /> Mortgagee and/or Leasehold Mortgagee and which may become due <br /> during such thirty(30) or forty-five (45) day Termination Notice Period, <br /> and <br /> (iii) comply or in good faith, with reasonable diligence and continuity, <br /> commence to comply with all non-monetary requirements of this <br /> Agreement and the Police Facility Lease then in default and reasonably <br /> susceptible of being complied with by such Mortgagee or Leasehold <br /> Mortgagee, provided however, that such Mo>;tgagee or Leasehold <br /> Mortgage shall not be required during such' forty-five (45) day <br /> Termination Notice Period to cure or commence to cure any default <br /> consisting of Redeveloper's failure to satisfy and discharge any lien, <br /> charge or encumbrance against the Redeveloper's interest in the Police <br /> Facility, the Police Facility Site or the Police Facility Lease, junior in <br /> priority to the lien of the Mortgage or Leasehold Mortgage held by such <br /> Mortgagee or Leasehold Mortgagee. <br /> (b) Any notice to be given by City to a Mortgagee or Leasehold Mortgagee pursuant <br /> to any provision of this Section 14.7 shall be deemed properly addressed if sent <br /> to the Mortgagee or Leasehold Mortgagee who served the notice referred to in <br /> Section 14.5 unless notice of a change of Leasehold Mortgage ownership has <br /> been given to City pursuant to such Section 14.5. <br /> 14.8 Procedure on Default. <br /> (a) If City shall elect to tenninate this Agreement or Lease by reason of any default <br /> of Redeveloper, and a Mortgagee or Leasehold Mortgagee shall have proceeded <br /> in the manner provided for by Section 14.7, the specified date for the termination <br /> of this Agreement or Lease as fixed by City in its Termination Notice shall be <br /> extended for a period of six (6) months,provided that such Leasehold Mortgagee <br /> shall,during such six (6) month period: <br /> (i) Pay or cause to be paid the monetary obligations of Redeveloper under <br /> this Agreement or Police Facility Lease as the same become due, and <br /> continue its good faith efforts to perfonm all of Redeveloper other <br /> obligations under this Agreement or Police Facility Lease, excepting (A) <br /> obligations of Redeveloper to satisfy or otherwise discharge any lien, <br /> charge or encumbrance against Redeveloper's interest in this Agreement <br /> or Lease or the Property subject to the Police Facility Lease junior in <br /> 23 <br />
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