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R2015-138 AUTHORIZING REDEVELOPMENT AGREEMENT PACE Hospitality
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R2015-138 AUTHORIZING REDEVELOPMENT AGREEMENT PACE Hospitality
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Last modified
3/5/2018 4:48:19 PM
Creation date
12/24/2015 8:39:20 AM
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Resolution/Ordinance
Res Ord Num
R2015-138
Res Ord Title
AUTHORIZING REDEVELOPMENT AGREEMENT PACE HOSPITALITY, LLC
Approved Date
12/21/2015
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a '7€"" @"�.-.m.�. �:�'_ <br /> ���� ���� �����e ��� <br /> TABLE OF <br /> CONTENTS <br /> P� <br /> ARTICLE VII: REDEVELOPER COVENANTS AND RESTRICTIONS.................................10 <br /> 7.1 Project Subject to Redevelopment Agreement......................................................................10 <br /> 7ZNon-discrimination...................................................................................................................10 <br /> 7.3 Property Taxes..........................................................................................................................10 <br /> 7.4 Duration of Covenants.............................................................................................................11 <br /> 7.5 Covenants Running with the Land. ........................................................................................11 <br /> 7.6 Covenants Binding for the Benefit of City. ............................................................................11 <br /> 7.7 Forms of Covenants and Restrictions.....................................................................................12 <br /> ARTICLE VIII: INDEMNIFICATION..........................................................................................12 I <br /> 8.1 Redeveloper Indemnification of the City................................................................................12 II, <br /> 8.2 City Indemni�cation of the Redeveloper................................................................................13 I� <br /> ARTICLE IX: PROHIBITIONS AGAINST ASSIGNMENT AND TRANSFER.......................13 <br /> 9.1 Prohibition Against Transfer of Project and Project Site Prior to Completion of <br /> Construction..............................................................................................................................13 <br /> 9.1.1 Prohibitions. .........................................................................................................................................13 <br /> 9.1.2 Conditions for Approval.......................................................................................................................13 <br /> 9.2 Transfer of Project After Completion of Construction.........................................................15 <br /> 9.3 Status of Assignee.....................................................................................................................15 <br /> 9.4 Assignment to Affiliated Entity...............................................................................................15 <br /> 9.5 No Release of Redeveloper.......................................................................................................15 <br /> ARTICLE X: DEFAULT AND REMEDIES..................................................................................16 <br /> 10.1 Events of Default.......................................................................................................................16 <br /> 10.1.1 Misrepresentation.................................................................................................................................16 <br /> 10.1.2 Breach. .................................................................................................................................................16 <br /> 10.2 Remedies Upon Default............................................................................................................16 <br /> ARTICLE XI: TERMINATION OF AGREEMENT....................................................................16 <br /> 11.1 Termination by the City...........................................................................................................16 <br /> 11.2 Termination by the Redeveloper.............................................................................................16 <br /> ARTICLE XII: EQUAL EMPLOYMENT OPPORTUNITY.......................................................17 <br /> 12.1 Nondiscrimination....................................................................................................................17 <br /> 12.2 Advertising................................................................................................................................17 <br /> ARTICLE XIII: REPRESENTATIONS OF THE REDEVELOPER..........................................17 <br /> 13.1 Organization..............................................................................................................................17 <br /> 13.2 Authorization............................................................................................................................17 <br />
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