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R2003-138 AUTHORIZING EXECUTION OF TERMINATION AGREEMENT
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R2003-138 AUTHORIZING EXECUTION OF TERMINATION AGREEMENT
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1/12/2016 4:40:28 PM
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1/12/2016 4:40:26 PM
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Resolution/Ordinance
Res Ord Num
R2003-138
Res Ord Title
AUTHORIZING EXECUTION OF TERMINATION AGREEMENT - INCUBATOR CARVEOUT AREA
Approved Date
9/15/2003
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ARTICLE 2: FINAL DECISION ON ALLOCATION OF COSTS <br /> 2.1 Final Decision on Costs under Article 8. The Parties agree that they have <br /> conferred and reached a decision on the final allocation of costs with respect to the Carveout <br /> Area in accordance with Article 8 of the Site Participation Agreement. Those costs included: <br /> (1) all costs and expenses to be paid by the Parties to the Project Manager for actions under the <br /> Site Participation Agreement with respect to the Carveout Area ("Shared Costs"); and (2) costs <br /> incurred by the City and BorgWarner in connection with the Carveout Area prior to the Site <br /> Participation Agreement and identified at Article 3 of the Site Participation Agreement in the <br /> total amount of$111,846.07 ("Past Costs"). The Parties agree that the final decision concerning <br /> these costs is by unanimous agreement and is binding on all Parties. <br /> 2.2 Final Payment of Shared Costs. The Parties agree that Shared Costs have been <br /> paid in full by the Parties using the Interim Allocation of Costs procedure provided at Article 7 <br /> of that agreement and that such allocation corstitutes the final allocation of Shared Costs under <br /> Article 8 of the Site Participation Agreement. <br /> 2.3 Past Costs For�iven. The Parties agree to forgive the Past Costs with respect to <br /> the Carveout Area for a total amount of $111,846.07, and the Parties agree that no other final <br /> allocation decision is required to address those Past Costs now or in the future. <br /> ARTICLE 3: COVENANTS NOT TO SUE AND RELEASES <br /> 3.1 Covenant Not to Sue. Each Party forever agrees not to bring a judicial action <br /> against any other Party, whether under contract, statute or common law, for the recovery of any <br /> Shared Costs, Past Costs, or any costs assumed under .Section 4.4 of the Site Participation <br /> Agreement in connection with the Carveout Area. <br /> 3 <br />
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