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R2016-04 AUTHORIZING REDEVELOPMENT AGREEMENT FIRSTECH
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R2016-04 AUTHORIZING REDEVELOPMENT AGREEMENT FIRSTECH
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2/18/2016 10:10:36 AM
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2/18/2016 10:10:34 AM
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Resolution/Ordinance
Res Ord Num
R2016-04
Res Ord Title
AUTHORIZING REDEVELOPMENT AGREEMENT FIRSTECH, INC
Approved Date
1/19/2016
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. �m ���� ����:m ��� <br /> specifically provided otherwise in this Agreement) no transfer of the <br /> Project or Project Site or any part thereof, or any interest therein, <br /> however consummated or occurring, and whether voluntary or <br /> involuntary, shall operate legally or practically, to deprive or limit the <br /> City of any rights or remedies or controls regarding the Project and <br /> the construction thereof that the City would have had, had there been <br /> no such transfer. <br /> (c) There shall be submitted to the City for review all instruments and <br /> other legal documents involved in effecting the transfer. <br /> (d) The Redeveloper and its transferee shall comply with such other <br /> reasonable conditions as the City may find desirable in order to <br /> achieve and safeguard the purposes of the Redevelopment Plan and <br /> this Agreement. <br /> 9.2 Transfer of Project After Completion of Construction. After Substantial <br /> Completion of construction of the Project as certified by the City (in accordance with <br /> Sections 2.9 and 2.10 hereo fl, the Redeveloper (and any subsequent owner) may <br /> transfer the Project (or any portion thereofl without the consent of the City by <br /> instrument in writing reasonably satisfactory to the City, and in a form recordable <br /> among the land records, pursuant to which the transferee shall expressly assume with <br /> regard to the Project(or any portion thereo fl all of the obligations of the Redeveloper <br /> under this Agreement and agree to be subject to all the conditions and restrictions to <br /> which the Redeveloper is subject with regard to the Project or any portion thereof. <br /> The fact that any transferee of, or any other successor in interest whatsoever to, the <br /> Project(or any portion thereo fl, shall not have assumed such obligations or so agreed, <br /> shall not (unless and only to the extent otherwise specifically provided in the <br /> Agreement or agreed to in writing by the City) relieve or except such transferee or <br /> successor of or from such obligations, agreements, conditions, or restrictions, or <br /> deprive or limit the City of or with respect to any rights or remedies or controls with <br /> respect to the Project or the construction thereof; it being the intent of this, together <br /> with other provisions of this Agreement, that (to the fullest extent permitted by law <br /> and equity and excepting only in the manner and to the extent specifically provided <br /> otherwise in this Agreement) no transfer of the Project (or any portion thereofl, or <br /> any interest therein, however consummated or occurring, and whether voluntary or <br /> involuntary, shall operate legally or practically, to deprive or limit the City of any <br /> rights or remedies or controls regarding the Project and the construction thereof that <br /> the City would have had, had there been no such transfer. No such transfer shall be <br /> deemed to transfer any rights of the Redeveloper to the reimbursements set forth <br /> under Article IV above, unless such rights are expressly set forth in the instrument of <br /> assignment. <br /> C1TY OF DECATUR/FirsTech Red.Agreement 13 <br /> Page 113 of 161 <br />
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