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Res 2021-157/approving a Chapter 380 Economic Development Incentive Agreement with Project Robot, providing incentives in the form of refunds of a percentage of real property taxes
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Res 2021-157/approving a Chapter 380 Economic Development Incentive Agreement with Project Robot, providing incentives in the form of refunds of a percentage of real property taxes
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10/13/2021 11:39:23 AM
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9/1/2021 8:19:51 AM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2021-157
Date
8/17/2021
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<br /> Section 8.02. Termination for Misrepresentation. Notwithstanding any <br />provision for notice of default and any opportunity to cure under Section 8.01, the City <br />may terminate the Agreement immediately by providing written notice to Company if <br />Company or Tenant, their officers or signatories to this Agreement misrepresented or <br />misrepresents any material fact or information: (i) upon which the City relied in entering <br />into this Agreement; (ii) upon which the City relies in making a Grant Payment to <br />Company; or (iii) as an inducement for the City to make a Grant Payment to Company. <br />Section 8.03. Other Remedies and Clawback. <br />a. Generally. Upon breach of any obligation under this Agreement, in <br />addition to any other remedies expressly set forth in this Agreement with respect to <br />such breach, the City may pursue such remedies as are available at law or in equity <br />for breach of contract. <br />b. Clawback. Notwithstanding any other provision to the contrary in <br />this Agreement, if Tenant fails to maintain the TRSA Clean Green certification for <br />at least a period of 10 years from the date of obtaining the certification, Tenant shall <br />repay to the City the total amount of all Grant Payments received by Company <br />within 60 days following receipt of a written request from the City for such <br />repayment. The City may pursue all remedies available at law or in equity for <br />failure of Tenant to repay the City under this section, including the recovery from <br />Tenant of reasonable attorney fees and costs of court and litigation. Applicable law <br />and venue for purposes of this section shall be as provided in Section 9.06. <br /> <br /> <br />
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