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2006-102 APPROVING A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF DECATUR, ILLINOIS AND IP PLAZA, LLC, IN CONNECTION WITH THE EASTGATE COMMONS REDEVELOPMENT PROJECT AREA
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2006-102 APPROVING A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF DECATUR, ILLINOIS AND IP PLAZA, LLC, IN CONNECTION WITH THE EASTGATE COMMONS REDEVELOPMENT PROJECT AREA
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10/19/2015 2:47:30 PM
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Resolution/Ordinance
Res Ord Num
2006-102
Res Ord Title
APPROVING A REDEVELOPMENT AGREEMENT BY AND BETWEEN THE CITY OF DECATUR, ILLINOIS AND IP PLAZA, LLC, IN CONNECTION WITH THE EASTGATE COMMONS REDEVELOPMENT PROJECT AREA
Approved Date
11/6/2006
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i <br /> �c}o€� : �;7t-��. F���� s ��t:r. <br /> � <br /> I <br /> 22. LEGAL C'HAL�,ENGE <br /> If any action is brought Ly ar.y person before any court of corrlpetent jurisdiction, or any <br /> administrative or other agency ha��;r�g any regulatory o� othe� responsibility therefor, <br /> challenging the validity of any provision of this Agreement, or the validity of any ordinance <br /> establishing Redevelupment Project Area or adopting tax increment a location financing for the <br /> Redevelopment Project Area, the Developer shall indemnify and hol harmless the City for all <br /> costs and expenses related te the defense of such action, including r asonable attorney's fees. <br /> At its option, the Developer may provide legal representatiun for th� City for such actions, in <br /> full satisf'action of its abligation hereunder. Funds used to defenci' such an action shall be <br /> deemed Elig,ible Redevelopinent Project Costs, as allowed by Law, a�d shall not count against <br /> any caps associated with Phase I or Phase 11 of this Ageement. Such costs shall be reimbursed <br /> to the Developer as a priority over any other funds distributed as a re�ult of this Agreement but <br /> shall not accrue interest because of any delay between the time the xpenses may be incurrec� <br /> and when the}% are reirnbursed. <br /> 23. DISCHARGE PRIOR REDEVELOYMENT AGREE ENT. �,. <br /> 'I'he R�develcpmeiit Agreement (the "Prior Agreement"), a� approved by R�tivn <br /> tic>. 2U06-�1=�, �dc�pted Jt,ly :s. 2U06, is herehy discharged, satisfied an released, this Ag�ttrent <br /> �uper���c?in`� tne Pricrz- Agr��einent. ' <br /> �I <br /> �"�lie rernainder ol�ihi5 pabe is intentiorially bla .) <br /> II� <br /> I <br /> i <br /> I <br /> Pa e 17 of 32 II <br /> S <br /> � <br />_ I <br />
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