Laserfiche WebLink
<br />Doc Bk Vol Pg <br />00018331 OPR 1701 580 <br /> <br />Page 5 <br /> <br />wasi.ewater impact fees charged by the City. <br />2. The City agrees to expedite the process for all hearings, reviews, inspections and <br />contacts with City staff in order to ensure the timely completion of the construction <br /> <br />process. <br />3. The City agrees to consider any other reasonable requests made by the Developer in <br />order to assist it in constructing the Facilities. <br /> <br />PART 7. EFFECT OF SALE, ASSIGNMENT OR LEASE OF PROPERTY <br />Section 7.01. The Tax Abatement will be assignable to each new owner of the Property, or <br />to financing entities in the event third party financing is sought, for the balance of the term of this <br />Agreement. Tran2Iers which result in a continuation of the business in the same general manner as <br />operated under the Developer are consented to and do not require further City Council approval; in <br />this case, the Developer or its successor will give written notice to the City within 10 days after the <br />transaction, and the Developer will be released of any further duties or obligations under this <br />Agreement. <br />Section 7.02. For transfers which will not result in a continuation of business as described <br />above, this Agreement may be assigned to a new owner of the Property with the written consent of <br />the City Council, which will not be unreasonably withheld, and the Developer will be released of any <br />further duties or obligations under this Agreement. <br />Section 7.03. The new owner will assume all the duties and obligations of the Developer <br />upon the same ter~__:.c. and conditions as set out in this Agreement. Any assignment ofthis Agreement <br />will be to an entity that contemplates the same improvements to the Property, except to the extent <br />the Facilities have been completed. No assignment will be approved ifthe assignor or the assignee <br />is indebted to the City for ad valorem taxes or other obligations. <br /> <br />PART 8. PROPERTY TAX APPRAISED VALUE <br />Section 8.01. It is understood and agreed between the parties that the Property and the <br />improvements upon the Property will be appraised at market value for the purposes of property tax <br />assessment throughout the term of this Agreement, and that this value may change during the term <br />