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R2006-72 PLACING ON FILE REDEVELOPMENT AGREEMENT
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R2006-72 PLACING ON FILE REDEVELOPMENT AGREEMENT
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Last modified
11/3/2015 11:27:50 AM
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Resolution/Ordinance
Res Ord Num
R2006-72
Res Ord Title
PLACING ON FILE REDEVELOPMENT AGREEMENT WITH OLDE TOWNE LLC - 253 NORTH MAIN STREET
Approved Date
5/15/2006
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acquiring interests in or possession of real estate caused by the parties who aze contractually <br /> obligated to convey and grant to the Developer, for which the Developer shall have a day for day <br /> e�ctension for any deadlines hereunder, if such event is claimed in writing delivered within ten <br /> (10)days of the occurrence of the event giving rise thereto. <br /> 9. ASSIGNMENT <br /> The rights and obligations of Developer under this Agreement shall be <br /> assignable, in whole and not in part,with(i)not less than 20 business da.ys' (or such lesser notice <br /> acceptable to the Municipality) written notice by the Developer to the Municipality and (ii) the <br /> written approval of such assignment by the Municipality, including on such terms and conditions <br /> as the Municipality shall require; provided that no such assignment shall be deemed to release the <br /> Developer o€its obligations to the Municipality under this Agreement unless the consent of the <br /> Municipality to the release of the Developer's obligarions is first obtained. <br /> 10. PREPAYMENTS <br /> The Municipality absolutely reserves the right, prior to the expiration of the term <br />' of this Agreement and to the extent lawful, in its sole discretion, to prepay all or any part of its <br />, obligations under this Agreement or any Note. <br /> 11. WAIVEIt <br /> Any party to this Agreement may elect to waive any remedy it may have <br /> hereunder, provided that no such waiver shall be deemed to exist unless the party waiving such <br /> right or remedy does so in writing. No such waiver sha11 obligate such pazty to waive any other <br /> right or remedy hereunder, or shall be deemed to constitute a waiver of other rights and remedies <br /> provided pursuant to this Agreement. <br /> 12. SEVERABII.ITY <br /> If any section, subsection,term or provision of this Agreement or the application <br /> thereof to any party or circumstance shall, to any extent, be invalid or unenforceable, the <br /> remainder of such section, subsection, term or provision of this Agreement or the application of <br /> same to parties or circumstances other than those to which it is held invalid or unenforceable, <br /> shall not be affected thereby. <br /> 13. NOTICES <br /> All notices, demands,requests, consents, approvals or other instruments required <br /> or permitted by this Agreement shall be in writing and shall be executed by the party or an <br /> officer,agent or attomey of the party,and shall be deemed to have been effective as of the date of <br /> actual delivery, if delivered persona.11y, or as of the third(3rd) day from and including the date of <br /> posting, if mailed by registered or certified mail, retum receipt requested, with postage prepaid, <br /> addressed as follows(or to such other address as is provided by notice): <br />
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