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WHEI2EAS,the City believes that the develo}�ment of the Project,subject to the adoption of Tax
<br /> I�icrement Financing for the Redevelopment Area pursuant to the Act, pursttant to the proposed
<br /> Redevelopme�it Pla�i is in the vital and best interests of the City and the health, safety, morals and welfare
<br /> of its residents, and in accordance with the public purposes and provisions of the applicable federal, state
<br /> and local laws.
<br /> NOW THEItEFORE, in consideratiot� of the promises and mutual covenants and obligations of
<br /> the parties contained herein, and otller good and valuable consideration, tl�e recaipt and sufficiency
<br /> whereof are liereby acknowledged,the parties hereto, intending to be legaIly bound,hereby covenant and
<br /> agree as follows:
<br /> ARTICLE I: DEFINITIONS
<br /> "Act" means the Tax Incren�ent Allocation Redevelop�nent Act, 65 ILCS S/11-74.4-1 et seq as it
<br /> may be amended fi•om time to time.
<br /> �+ �� rmits licenses
<br /> A licable Law means all laws statutes acts ordinances, rules,re ulations, e , ,
<br /> PP , � , � P
<br /> authorizations, directives, orders and requirements of all Governmental Authorities, that now or
<br /> hereafter during tl�e term of this Agceement may Ue applicable to the City, the Redeveloper,
<br /> and/or the Pcoject, and the construction, maintenance, use and operation thereof, including those
<br /> i�elating to employees,zoning,building,health,safety,aud accessibility of public facilities.
<br /> "Exterio�• Architectural Appearance" means the architectural character, general composition
<br /> and general arrangements of the exterioc� of the Project, and the adjacent plazas and pedestrian
<br /> areas, including the ku�d, color and texture of the building material and the type and charactei•of
<br /> all windows, doox•s, ligl�t fixtures,signs and appurtenant eleinents, visible from public streets and
<br /> thoroughfares.
<br /> "Final Site Plan" means the final plan for the Project or any Phase thereof which sets foith the
<br /> limits of the wock to be done,tiie building locations, ingress and egress, loading areas,parking, if
<br /> any, landscaping, signage and adjoining streets including one or more elevations or sketches
<br /> showing the extecior features and designs of all the buildings or structures.
<br /> "Preliminaey Plans" means plans and drawings, including a Prelimina�y Site Plan for the
<br /> Project attached heceto as Exhibit 1 wliich are preliminaty to tite Constivction Plans,which plans
<br /> and drawings include but are not limited to the timits of the work to be done, the location of
<br /> buildings and all auxiliacy structures, ingress and egress, loading areas, pa�•king, if any, proposed
<br /> signage, Iandscapin�avd one or more elevations showing the Exterior Arcliitectural Appearance
<br /> of the Project or any phase thereof.
<br /> "Pe•eliminary 5ite Plan" means the site layout for the Project or any phase thereof including
<br /> parkin�, if any, buildings, ingi•ess and egress, pedestrian and vehicular circulation, utilities,
<br /> geading, storm water detention, landscaping a�id service areas, and alf proposed dedications and
<br /> easements.
<br /> "Project" means the shopping center and e�elated facilities to be developed and constructed by
<br /> the Redeveloper as more fiilly shown on described oit Exhibit I attached hei•eto and made a part
<br /> hereof.
<br /> City of Decatur/Pines Shopping Center Redevelopment Agreement 2
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