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Res 2013-172/Approving a 380 Economic Development Incentive Agreement w/Clovis Barker Business Park L.P
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Res 2013-172/Approving a 380 Economic Development Incentive Agreement w/Clovis Barker Business Park L.P
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11/22/2013 12:28:44 PM
Creation date
11/22/2013 11:34:26 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2013-172
Date
11/19/2013
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Payments. <br />Section 8.02. Developer's Option to Terminate. If the City fails to budget and <br />appropriate funds for Grant Payments under this Agreement for reasons other than the <br />Developer's non - compliance with this Agreement during any fiscal year of the City during the <br />Term, the Developer, at its option, may terminate this Agreement by providing written notice <br />thereof to the City. If the Developer elects to terminate the Agreement under this Section, the <br />Developer and the City shall each be released of all further obligations under this Agreement, <br />except that the City shall pay to the Developer any outstanding and unpaid Grant Payments <br />properly due to the Developer prior to the date of termination for which the City has budgeted <br />and appropriated funds during any previous fiscal year. <br />Section 8.03. Remedies. Upon breach of any obligation or misrepresentation of facts <br />under this Agreement, in addition to any other remedies expressly set forth in this Agreement <br />with respect to such breach or misrepresentation, the aggrieved party shall have such remedies as <br />are available in law or equity for breach of contract; provided, however, that no party shall be <br />liable to any other party for incidental or consequential damages. Notwithstanding the <br />foregoing, the City, in entering into this Agreement does not waive its immunity from suit or any <br />other limitations on its liability, contractual or otherwise, as granted by the Texas Constitution or <br />applicable laws of the State of Texas. If any Grant Payments are made by the City before the <br />City determines that Developer has breached the terms of this Agreement or misrepresented any <br />facts relied upon by the City, Developer acknowledges and agrees that among the remedies <br />available to the City is the right to recover any sums paid to Developer and Developer agrees <br />that, in such event, it shall be liable to the City for reimbursement of any such sums. <br />Section 8.04. Offset. The City may deduct from any Grant Payments, as an offset, any <br />
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