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R2002-192 AUTHORIZING DEVELOPMENT AGREEMENT
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R2002-192 AUTHORIZING DEVELOPMENT AGREEMENT
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Last modified
1/14/2016 2:24:48 PM
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1/14/2016 2:24:37 PM
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Resolution/Ordinance
Res Ord Num
R2002-192
Res Ord Title
AUTHORIZING DEVELOPMENT AGREEMENT NEAR NORTH REDEVELOPMENT PROJECT AREA - HOPE VI
Approved Date
10/7/2002
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. . ..... ... -•----- <br /> (b) The Developer fails to complete any Performance Milestone by the applicable <br /> Milestone Deadline as provided for herein; or <br /> (c) The Developer becomes insolvent, is adjudged a bankrupt, makes a general <br /> assigrunent for the benefit of creditors, or becomes a subject of any proceeding <br /> commenced under any statute or law for the relief of debtors; provided that the <br /> Developer, as the case may be shall have 90 days to effect the dismissal of any <br /> such involuntary proceeding; or <br /> (d) A receiver,trustee.or liquidator of any of the property or income of the Developer <br /> or any guarantor of the Developer's performance hereunder shall be appointed;or <br /> (e) The Developer unilaterally withdraws from the Revitalization project except as <br /> expressly allowed by the terms of the Agreement; or <br /> (fl The Developer fails to enforce any material terms, provisions, conditions, <br /> covenants or agreements in the Construction Documents,and Proj ect Documents <br /> to be observed andlor performed on the part of the General Contractor or other <br /> Contractors, if such failure materially and adversely affects the DHA's or the <br /> City's interest hereunder; or <br /> (g) Any action or omission by the Developer or its Third Party Contractors that(1) <br /> causes a default by the DHA under (i) the Annual Contributions Contract, <br /> including all amendments thereto,or(ii)Development regulations,Capital Fund <br /> regulations or Public Housing Requirements, or (2) is the sole cause of or <br /> otherwise results in the revocation of a funding commitment from a third party <br /> funding source; or <br /> (h) The Developer fails to make payment to a Third Party Contractor when due and <br /> funds for such payment have been received from the DHA,unless said payment <br /> is source of dispute by Developer and/or Third Party Contractor and Developer <br /> has returned to DHA the disputed amount pending resolution of said dispute; or <br /> (i) The Developer fails to obtain and maintain the insurance coverage required <br /> herein; or <br /> (j) The Developer fails to enforce the insurance obligations described hereunder on <br /> Third Party Contractors; or <br /> (k) The Developer fails to take appropriate efforts or use due diligence to ensure that <br /> Third Party Contractors possess the requisite licenses and qualifications <br /> necessary for work contracted to them; or <br /> (1) The Developer materially breaches any representation,warranties,covenants,or <br /> certifications made in this Agreement; or <br /> Decatur Housing Authority Near North Impact Area Development Agreement <br /> Page 34 <br />
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