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97-19 AUTHORIZING REDEVELOPMENT AGREEMENT Southeast Plaza
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97-19 AUTHORIZING REDEVELOPMENT AGREEMENT Southeast Plaza
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3/21/2016 10:32:39 AM
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3/21/2016 10:32:37 AM
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Resolution/Ordinance
Res Ord Num
97-19
Res Ord Title
AUTHORIZING REDEVELOPMENT AGREEMENT - SOUTHEAST PLAZA
Approved Date
3/31/1997
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. i <br /> • �1 { <br /> '� ' '�Act of God, acts caused directly or indirectly by the other party (or the other party's <br /> � � agents, employees or invitees) or third parties, or any other cause beyond the reasonable <br /> � control of Developer or the City. <br /> 9. AMENDMENT <br /> This Agreement, and any exhibits attached hereto, may be amended only by the <br /> mutual consent of the Parties evidenced by a written amendment, by the adoprion of an <br /> ordinance or resolution of the City approving said written amendment, as provided by <br /> law, and by the execution of said written amendment by the Parties or their successors in <br /> interest. <br /> 10. ASSIGNMENT <br /> Except for the initial assignment of this Redevelopment Agreement as collateral, <br /> the Developer shall not assign any of the rights in this Agreement without first obtaining <br /> written consent of the City. However, the City agrees that consent sha11 not be <br /> unreasonably withheld provided the nature and fmancial status of the project are not <br /> substantially changed, and that nothing contained herein is intended to restrict the transfer <br /> of interest in this agreement as a result of the death of any of the Developers. <br /> 11. PREPAYMENTS <br /> Should the annual incremental tax revenue generated by the Project be sufficient to <br /> pay all cost eligible expenses, except mortgage interest buy-down, prior to the expiration <br /> of the term of this Agreement, City may, in its sole discretion, elect to pay a11 then <br /> remaining payments (except mortgage interest buy-down) in a single lump sum payment. <br /> 12. WAIVER <br /> Any parly to this Agreement may elect to waive any remedy it may enjoy <br /> hereunder, provided that no such waiver shall be deemed to exist unless the party waivi.ng <br /> such right or remedy does so in writing. No such waiver shall obligate such party to <br /> waive any right or remedy hereunder, or shall be deemed to constitute a waiver of other <br /> rights and remedies provided said party pursuant to this Agreement. <br /> 13. SEVERABILITY <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 said section, subsection, term or provision of this Agreement or the <br /> application of same to parties or circumstances other than those to which it is held invalid <br /> 15 <br />
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