Res 2011-142 - Laserfiche WebLink

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SECTION 4. TERM AND TERMINATION. A. Agreement Term. This Agreement will take effect only upon designation of the Reinvestment Zone by ordinance of the City and will be in effect for the earlier of 1) thirty (30) years from the date of the designation of the Reinvestment Zone or 2) the date the Developer is reimbursed the Project Costs, unless earlier terminated by the parties hereto. Nothing in this Agreement limits the authority of the County or City to extend the term of this Agreement. Upon termination of this Agreement, the obligation of the County to make payments to the City shall end; however, any refund obligations of the City shall survive the termination. B. Early Termination of Reinvestment Zone. The City may terminate the Reinvestment Zone pursuant to the provisions of Section 311.017 of the Texas Tax Code. C. Early Termination of County Obligation. If, without prior written consent of the County, the City modifies or further amends the Paso Robles PDD from the amendment that was approved by the City on or about the 2" `t day of August 2011 (Ref. Ordinance No. 2011 -39), and if such modification or further amendment provides for any street or roadway, other than Centerpoint Road, to connect to property outside the Paso Robles Development, then, effective on the date of that modification or further amendment, the County shall no longer have an obligation to make payments under Section 2(A), above. All payments made prior to that date shall be considered valid contract obligations of the County under this Agreement. SECTION 5. MISCELLANEOUS. A. Cooperation. This City and the County agree to cooperate with each other, in good faith, at all times during the term hereof in order to achieve the purposes and intent of this Agreement. B. Entire Agreement; Amendments. This Agreement contains the entire agreement between the parties respecting the subject matter hereof, and supersedes all prior understandings and agreements between the parties regarding such matters. This Agreement may not be modified or amended except by written agreement duly executed by the parties and Developer. C. Interpretation. The parties acknowledge and confirm that this Agreement has been entered into pursuant to the authority granted under the Interlocal Cooperation Act, Chapter 791 of the Texas Government Code. All terms and provisions hereof are to be construed and interpreted consistently with that Act. D. Invalid Provisions. Any clause, sentence, paragraph or article of this Agreement which is determined by a court of competent jurisdiction to be invalid, illegal, or unenforceable in any respect shall not be deemed to impair, invalidate, or nullify the remainder of this Agreement if the Agreement can be given effect without the invalid portion. 6