Laserfiche WebLink
� ; Book : 3847 Page : 2�7 <br /> year 2007 (payable in 2008) (the "Incremental Taxes"). All Incremental Tax <br /> revenue shall be paid to Primrose until the reimbursable costs set out herein <br /> have been paid. <br /> (b) It shall be the responsibility of Primrose, or its successors or <br /> assigns, to provide the City with certified copies of real estate tax bills for the tax <br /> year 2007 and, annually thereafter, proof of payment of all real estate tax bills on <br /> each tax parcel constituting the Subject Property until the reimbursable costs are <br /> paid. <br /> (c) The City's obligation under this Agreement to reimburse Primrose <br /> as provided in this section is a special and limited obligation, to be paid solely ; <br /> from the real property taxes received by the City and limited to the amount of 'i <br /> Incremental Taxes. Any such obligation does not now and shall never constitute <br /> an indebtedness of the City within the meaning of any constitutional or statutory <br /> provision and shall not constitute or give rise to a pecuniary liability of the City or <br /> a charge or lien against the City's general credit, funds, taxing power or <br /> otherwise. <br /> 10. PRIMROSE'S ENGINEER. Primrose's engineer shall certify to the <br /> City that all improvements meet Planned Development Documents herein. Final <br /> approval shall be by the City's Director of Engineering and Infrastructure. <br /> 11. CONTRACTORS. Primrose shall employ experienced contractors <br /> for construction of all subdivision improvements. <br /> 12. MISCELLANEOUS. (a) Where this Agreement is silent, City <br /> ordinances shall apply and control. It is further understood and agreed by the <br /> parties that this Agreement shall be read in pari materia with the City's <br /> Subdivision Ordinance and Zoning Ordinance, and other applicable regulations. <br /> (b) Notwithstanding any other provision contained herein to the <br /> contrary, with respect to the Subject Property, this Agreement shall be effective <br /> for a term of twenty (20) years from the date hereof or the longest term permitted <br /> by law. <br /> (c) This Agreement shall bind their heirs, successors, and assigns of <br /> the City and Primrose. This Agreement shall inure to the benefit of the parties <br /> hereto, their successors and assigns, provided that Primrose shall have no right <br /> to assign this Agreement except in connection with conveyances of all or any <br /> portion of this Subject Property. <br /> (d) Nothing herein shall in any way prevent the alienation, <br /> encumbrance or sale of the Subject Property or any portion thereof and the new <br /> owner or owners shall be both benefited and bound by the conditions and <br /> restrictions herein expressed. <br /> 4 <br />