Res 2007-112 - Laserfiche WebLink

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Section 5.05. The City Council reserves the sole discretion to choose among the remedies for default enumerated in Sections 5.01 through 5.03 above. These remedies may be used 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 SMVP will not waive the City=s ability to enforce the agreement after that time. PART 6. ECONOMIC INCENTIVES PROVIDED BY THE CITY Section 6.01. As partial consideration for the construction ofthe Facility and the achieving and maintaining of occupancy by SMVP described in Part 2 above, the City agrees to provide the following incentives and benefits to SMVP: 1. The City agrees to waive all City fees (the "Fee Waiver") associated with building permits and inspections associated with the construction of Phase One and Phase Two of the Facility. The Fee Waiver does not extend to water and wastewater impact fees charged by the City 2. The City agrees to expedite the process for all hearings, reviews, inspections and contacts with City staff in order to ensure the timely completion of the construction process, 3. The City agrees to consider any other reasonable requests made by SMVP in order to assist it in constructing Phase One and Phase Two of the Facility. 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 financing entities in the event third party financing is sought, for the balance of the term of this Agreement. Transfers which result in a continuation of the business in the same general manner as operated under SMVP are consented to and do not require further City Council approval; in this case, SMVP or its successor will give written notice to the City within 10 days after the transaction, and SMVP will be released of any further duties or obligations under this Agreement. Section 7.02. For transfers which will not result in a continuation of business as described above, this Agreement may be assigned to a new owner of the Property with the written consent of the City Council, which will not be unreasonably withheld. Section 7.03. The new owner will assume all the duties and obligations of SMVP upon the same terms and conditions as set out in this Agreement. Any assignment of this Agreement will be to 4