Res 2005-035 - Laserfiche WebLink

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I I I The CIty agrees to expedIte the process for all hearmgs, reVIews, mspectIOns and contacts wIth CIty staff m order to ensure the tImely completIOn of the constructIOn process. 3 The CIty agrees to relocate at the CIty'S expense a utIhty pole at the front of the Property to allow for the constructIOn of a Jomt-access dnveway 4 The CIty agrees to conSIder any other reasonable requests made by the ASSOCiatIOn m order to aSSIst It m constructmg the Faclhty 2 PART 7. EFFECT OF SALE. ASSIGNMENT OR LEASE OF PROPERTY Section 7.01 The Tax Abatement wIll be assIgnable to each new owner of the Property, or to financmg entItIes m the event thIrd party financmg IS sought, for the balance of the term of thIS Agreement. Transfers WhICh result m a contmuatIOn ofthe busmess m the same general manner as operated under the ASSOCIatIOn are consented to and do not reqUIre further CIty CouncIl approval, m thIS case, the ASSOCIatIOn or ItS successor wIll gIve wrItten notIce to the CIty wlthm 10 days after the transactIOn, and the ASSOCIatIOn wIll be released of any further dutIes or obhgatIOns under thIS Agreement. Section 7 02. For transfers whIch wIll not result m a contmuatIOn of bus mess as described above, thIS Agreement may be assIgned to a new owner of the Property WIth the wntten consent of the CIty COunCIl. Section 7.03. The new owner wIll assume all the dutIes and obhgatIons ofthe ASSOCiatIOn upon the same terms and condItIOns as set out m thIS Agreement. Any asSIgnment oftms Agreement wIll be to an entIty that contemplates the same Improvements to the Property, except to the extent the Faclhty has been completed. No aSSIgnment wIll be approved If the aSSIgnor or the aSSIgnee IS mdebted to the CIty for ad valorem taxes or other obhgatIOns. PART 8. PROPERTY TAX APPRAISED VALUE Section 8.01 It IS understood and agreed between the partIes that the Property and the Improvements upon the Property WIll be appraIsed at market value for the purposes of property tax assessment throughout the term of thIS Agreement, and that thIS value may change durmg the term of thIS Agreement. The calculatIOn of abated taxes wIll make use of thIS appraised value as It IS determmed for each year of the Abatement Penod. 5