Res 1975-028 - Laserfiche WebLink

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r> '1 ~l f'1 ~ 'I 42. FIRST: The Grantee shall devote the property hereby conveyed to public and semi~public use only as defined in the approved Urban Renewal Plan, and agrees to construct the following improvements upon the said parcel~ for the estimated cost and by the dates indicated: (1) Construction of a Municipal Police Courts Building be completed by October 15, 1973 at an estimated cost of $239,149.32. Said improvements to be constructed upon disposition parcel lA~2. (2) Construction of a swimming pool and park complex to be completed by August 31, 1974, at an estimated cost of $579,876.55 to be funded in part by a grant by the Department of HUD. Said swimming pool and a portion of the park complex to be constructed upon disposition parcel II~lB. SECOND: The Grantee shall pay .real estate taxes or assess- ments on the property hereby conveyed or any part thereof when due and shall not place thereon any encumbrance or lien other than for temporary and permanent financing of construction of the Improvements on the property hereby conveyed as provided for in the Fourth Amended Cooperation Agreement dated the 6th day of May, 1974, between the parties hereto and as provided herein, and for additional funds, if any, in an amount not to exceed the consideration herein specified, and shall not suffer any levy or attachment to be made or any other encumbrance or lien to attach until the Grantor certifies that all building construction and other physical improvements specified to be done and made by the Grantee have .been completed; THIRD: The Grantee shall commence promptly the construction of the aforesaid Improvements on the property hereby conveyed in accordance with the said Fourth Amended Cooperation Agreement and as set forth herein and shall prosecute diligently the construction of said Improvements to completion, FOURTH: Until the Grantor certifies that all the aforesaid Improvements specified to be done and made by the Grantee have been completed, the Grantee shall have no power to convey the property hereby conveyed or any part thereof without the prior written con- sent of the Grantor except to a Mortgagee or Trustee under a Mortgage or Deed of Trust permitted by this Deed, and, except as security for obtaining financing permitted by this Deed, there shall be no trans- fer, and the Grantee shall not permit any transfer. FIFTH: The Grantee agrees for itself and any successor in interest not to discriminate upon the basis of race, color, or national origin in the sale, lease, or rental or in the use or occupancy of the property hereby conveyed or any part thereof or of any Improvements erected or to be erected thereon or any part thereof. The covenants and agreements contained in the covenant num- be.red FIRST shall run for a 25-year period from the date of this deed, or throughout the life of the Urban Renewal Plan and any extensions of time as covered in this Plan, whichever period is longer. The covena.nts and agreements contained in covenants num- bered SECOND, THIRD, and FOURTH shall terminate on the date the Grantor issues the Certificate of Completion as herein provided except only that the termination of the covenant numbered SECOND shall in no way be construed to release the Grantee from its obligation to pay real estate taxes or assessments on the property hereby conveyed or any part thereof. The covenant numbered FIFTH shall remain in effect without any limitation as to time. 3.