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Res 2024-093 approving a Chapter 380 Economic Development Incentive Agreement with BRE Group 500 Wonder World 2022 LP, also known as project Snapdragon
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Res 2024-093 approving a Chapter 380 Economic Development Incentive Agreement with BRE Group 500 Wonder World 2022 LP, also known as project Snapdragon
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7/15/2024 4:04:50 PM
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7/15/2024 4:04:22 PM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2024-93
Date
7/2/2024
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Section 8.05. Force Majeure. As used in this Agreement, the term `force majeure" <br /> means an event beyond the reasonable control of a party obligated to perform an act or take some <br /> action under this Agreement including, but not limited to, acts of God,pandemic, earthquake, fire, <br /> explosion, war, civil insurrection, acts of the public enemy, act of civil or military authority, <br /> sabotage, terrorism, floods, lightning, hurricanes, tornadoes, severe snow storms or utility <br /> disruption, strikes, lockouts, major equipment failure or the failure of any major supplier to <br /> perform its obligations. <br /> Section 8.06. Indemnification. Developer hereby agrees to indemnify and hold the <br /> City, and the City's elected officials and employees, harmless from and against any <br /> indebtedness, loss, claim, demand, liability or lawsuit arising from any obligation of the <br /> Developer under this Agreement or breach of any representation, warranty, covenant or <br /> agreement of the Developer contained in this Agreement, without regard to any notice or <br /> cure provisions. The Developer's indemnification obligation hereunder shall include <br /> payment of the City's reasonable attorneys' fees, costs and expenses with respect thereto. <br /> ARTICLE IX <br /> MISCELLANEOUS <br /> Section 9.01. Entire Agreement. This Agreement, including any exhibits hereto, <br /> contains the entire agreement between the parties with respect to the transactions contemplated <br /> herein. <br /> Section 9.02. Further Actions. The City and the Developer will do all things reasonably <br /> necessary or appropriate to carry out the objectives, terms and provisions of this Agreement and <br /> to aid and assist each other in carrying out such objectives,terms and provisions,provided that the <br /> City shall not be required to spend any money or have further obligations other than to reimburse <br /> the Developer pursuant to the terms of this Agreement. <br /> 11 <br />
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