Res 2005-187 - Laserfiche WebLink

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I I I charged by the CIty The CIty agrees to expedIte the process for all hearmgs, reVIews, mspectIOns and contacts wIth CIty staff m order to ensure the tlmely completIOn of the constructIOn process. 3 The CIty agrees to consIder any other reasonable requests made by CF AN m order to assIst It m the mstallatIOn of the EqUIpment and the capItal mvestments m the FacIhty PART 7 EFFECT OF SALE, ASSIGNMENT OR LEASE OF PROPERTY 2. Section 7.01 The Tax Abatement wIll be aSSIgnable to each new owner of the Property, or to finanCIng entltles m the event thud 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 CF AN are consented to and do not requue further CIty CouncIl approval, m thIS case, CF AN or ItS successor will gIve wntten notIce to the CIty wIthm 10 days after the transactIOn, and CF AN wIll be released of any further dutIes or obhgatIOns under thIS Agreement. Section 7.02. For transfers whIch wIll not result m a contInUatIOn of busIness as described above, thIS Agreement may be aSSIgned to a new owner of the Property WIth the wntten consent of the CIty CouncIl, whIch wIll not be unreasonably WIthheld, and CF AN wIll be released of any further dutles or obhgatIOns under thIS Agreement. Section 7.03. The new owner wIll assume all the dutles and obhgatIOns of CF AN upon the same terms and condItIOns as set out In thIS Agreement. Any aSSIgnment OfthIS Agreement wIll be to an entlty that contemplates the same Improvements to the Property, except to the extent the InstallatIOn of the EqUIpment and the capItal Investments In the FaCIlIty have 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 dunng 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