Res 2007-020 - Laserfiche WebLink

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PART 2. ECONOMIC INCENTIVES PROVIDED BY THE CITY Section 2.01 The City agrees to grant to Kula funds in the following manner; 1. F or a period of time not to exceed one year the City will pay to Kula the sum of $4,471.00 to cover the monthly rent at their present location. These funds will be paid within ten days after receipt of invoice from Kula. 2. Upon Kula's move into the Steward building, the City will pay the invoiced rent, not to exceed $12,500 per month. These funds will be paid within ten days after receipt of invoice from Kula. Should the Steward Building be unavailable this Agreement may be applied to another location with consent of the City Council. 3. To the extent that this Agreement pertains to multiple budget years the Agreement is subject to funds appropriated by the City Council for economic development incentive grants for each year that this Agreement remains in effect. PART 3. DEFAULT Section 3.01. The City Manager may declare a default under this Agreement if Kula: 1. fails to lease and move into the Steward Building by the deadline in Section 1.02 above (which may be extended if renovation is not completed on time); 2. alternatively, should the Steward Building not be available, fails to comply with Section 1.05, above; 3. refuses, fails or neglects to comply with any of the terms of this Agreement, including the provision for maintaining a minimal level of business in Section 2.01 above; 4. made any representation in this Agreement or in the application to the City for development incentives that is false or misleading in any material respect; Section 3.02. Should the Steward Building bum down or otherwise become inhabitable due to a natural disaster, or other Act of God, a default will not automatically occur; and, the terms of this Agreement may be met by Kula's occupation of a mutually agreeable building. Section 3.02. If the City Manager determines that Kula is in default of this Agreement the City Manager will notify Kula in writing, and if the default is not cured within 30 days from the date of the notice, then the City Manager may terminate this Agreement. If the City Manager determines that Kula is in default of this Agreement on the basis of Kula's no longer being located in San Marcos, the City Manager may terminate this Agreement without allowing Kula to cure the default. Section 3.03. The City may exercise its remedies for default in conjunction with one another or separately, and together with any other statutory or common law remedies available to the City. Any failure by the City to enforce this Agreement with respect to one or more defaults by Kula will not waive the City's ability to enforce the Agreement after that time.