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Res 2007-150
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Res 2007-150
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Last modified
11/15/2007 4:25:18 PM
Creation date
8/23/2007 11:40:43 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2007-150
Date
8/21/2007
Volume Book
172
Document Relationships
Res 2008-140
(Supersedes)
Path:
\City Clerk\03 Resolutions\2000 s\2008
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<br />I <br /> <br />City's discretion to allocate to the Project in order to achieve the same economic benefits to both <br />Parties, which would have resulted if the law had not changed. <br /> <br />12.2 Complete Aereement/Amendment. This Agreement represents a complete <br />agreement of the parties and supersedes all prior written and oral matters related to this <br />Agreement. This Agreement may be canceled, changed, modified or amended, in whole or in <br />part, only by the written and recorded agreement by the City and the then current owner of the <br />Property. In the event that the Property shall be owned by more than one owner, then this <br />Agreement may be canceled, changed, modified or amended, in whole or in part, only by the <br />written and recorded agreement by the City and the owners of sixty percent (60%) of the land <br />area of the Property; provided, however, that so long as Owner or its Designated Successors and <br />Assigns have at least a ten percent (10%) ownership interest in the Property, it shall be required <br />to join in any cancellation, change, amendment or modification of this Agreement. <br /> <br />12.3 Mutual Assistance/Good Faith. The City and the Owner each agree to act in <br />Good Faith and to do all things reasonably necessary or appropriate to carry out the terms and <br />provisions of this Agreement, and to aid and assist the other in carrying out such terms and <br />provisions in order to put the other in the same economic condition contemplated by this <br />Agreement, regardless of any changes in public policy, the law or taxes or assessments <br />attributable to the Property. <br /> <br />I <br /> <br />12.4 Representations and Warranties. The Parties represent and warrant to one <br />another that the Program and this Agreement are within their authority, and that they are duly <br />authorized and empowered to enter into this Agreement, unless otherwise ordered by a court of <br />competent jurisdiction. <br /> <br />12.5 Attorney's Fees. If any legal action or proceeding is commenced between the <br />City and the owner to enforce the provisions of this Agreement or to recover damages for its <br />breach, the prevailing Party in the legal action will be entitled to recover its reasonable attorney's <br />fees and expenses incurred by reason of such action, to the extent allowed by law. <br /> <br />12.6 Bindine Effect. This Agreement will be binding on and inure to the benefit of <br />the Parties and their respective successors and assigns. <br /> <br />12.7 Termination. If the Owner elects not to proceed with the acquisition of the <br />Property or the development of the Project as contemplated by this Agreement, the Owner will <br />notify the City in writing, and this Agreement and the obligations of all Parties will be deemed <br />terminated and of no further force or effect as of the date of such notice. <br /> <br />I <br /> <br />12.8 Notice. Any notice or other communication ("Notice") given under this <br />Agreement must be in writing, and may be given: (i) by depositing the Notice in the United <br />States Mail, postage paid, certified, and addressed to the Party to be notified with return receipt <br />requested; (ii) by personal delivery of the Notice to the Party, or an agent of the Party; or (iii) by <br />confirmed facsimile, provided that a copy of the Notice is also given in one of the manners <br />specified in (i) or (ii). Notice deposited in the mail in the manner specified will be effective two <br />(2) days after deposit. Notice given in any other manner will be effective only if and when <br /> <br />9 <br />
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