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Res 2010-170
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Res 2010-170
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Last modified
1/22/2015 4:24:33 PM
Creation date
11/26/2010 11:13:57 AM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Approving
Number
2010-170
Date
11/1/2010
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Agreement. To the extent reasonably possible, PrimeForm shall make all such records available <br />in electronic form or otherwise available to be accessed through the internet. <br />ARTICLE VIII <br />DEFAULT, TERMINATION AND REMEDIES <br />Section 8.01. Noncompliance with Jobs Obligations. If, at the end of any applicable <br />year during the Term, PrimeForm is not in compliance with the obligations to create Jobs as <br />provided in this Agreement, the City may, withhold Grant Payments that would otherwise be <br />due to PrimeForm for that year. If the City elects to withhold Grant Payments, the City will <br />resume Grant Payments for any subsequent years during the Term in which PrimeForm is in <br />compliance; however, any Grant Payments withheld by the City for any years during which <br />PrimeForm is not in compliance shall be deemed forfeited by PrimeForm and the City shall at no <br />time be liable for later payment of such Grant Payments. <br />Section 8.02. Failure to Operate Business. If PrimeForm fails to continuously operate <br />and carry on the Business on the Land or other location within the city limits of the City of San <br />Marcos until the end of the Term (subject, however, to any interruption for remodeling, repair, or <br />an event of force majeure (defined below), which interruption shall not count against this <br />operation obligation), then the City may give a notice of default under Section 8.03. <br />Section 8.03. Notice of Default. At any time during the Term of this Agreement that <br />PrimeForm is not in compliance with its obligations under this Agreement other than its <br />obligations to create Jobs, the City may send PrimeForm notice of such non - compliance. If such <br />non- compliance is not cured within 60 days after PrimeForm's receipt of such notice or, if non- <br />compliance is not reasonably susceptible to cure within 60 days, a cure is not begun within such <br />60 -day period and thereafter continuously and diligently pursued to completion (in either event, a <br />"Cure "), then the City may, at its option, terminate this Agreement or withhold Grant Payments <br />
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