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Res 2025-126 concerning Project Cat Tree and approving a Chapter 380 Economic Development Incentive Agreement with Midway Development, LLC, providing incentives in the form of partial rebates of hotel occupancy and sales taxes
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Res 2025-126 concerning Project Cat Tree and approving a Chapter 380 Economic Development Incentive Agreement with Midway Development, LLC, providing incentives in the form of partial rebates of hotel occupancy and sales taxes
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8/14/2025 3:34:20 PM
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City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2025-126
Date
8/5/2025
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its liability, contractual or otherwise, as granted by the Texas Constitution or applicable laws of <br /> the State of Texas. If any Chapter 380 Payments are made by the City before the City determines <br /> that Developer has breached the terms of this Agreement or misrepresented any facts relied upon <br /> by the City, Developer acknowledges and agrees that among the remedies available to the City <br /> hereunder is the right to recover any sums paid to Developer and Developer agrees that, in such <br /> event, it shall be liable to the City for reimbursement of any such sums. <br /> Section 8.04. Offset. Only after thirty (30) days' prior written notice to the Developer, <br /> the City may deduct from any Chapter 380 Payments, as an offset,any delinquent and unpaid fees, <br /> sums of money, or ad valorem, sales, or other taxes assessed and owed to or for the benefit of the <br /> City. <br /> 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, epidemic, mass casualty event, any <br /> limitation on travel, or the failure of any major supplier to perform its obligations. If a force <br /> majeure clause in a contract between the Developer and any other party engaged by the Developer <br /> to perform work associated with the Building Improvements or the Hotel contains language <br /> broader than what is included in this Section, such broader force majeure language shall apply as <br /> to the Developer. <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 <br /> 17 <br />
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