Res 1994-155 - Laserfiche WebLink

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G~ 4. rescinded and Mensor will pay such previous Abated Taxes to the City within 60 days of the termination date. C. If the City Council determines that Mensor has failed to create the full number of jobs described in Section 2 by the date specified, or to maintain the jobs for the duration specified, then this Agreement shall terminate, the Tax Abatement will be rescinded, and for each job required to be created or maintained .~- by the deadline which has not been created or maintained, Mensor shall pay the City an amount of money equal to 1/X of the previous Abated Taxes or within 60 days of the termination date, with "X" being the number of jobs to be created or maintained. D. If the City terminates this Agreement, in whole or in part, the City shall be entitled to collect from Mensor the full value of all fee waivers provided for in Section 6 below. The City shall be entitled to record a lien against the Property to secure the full value of the fees so waived. E. At such time as this Agreement is fully performed by Mensor, the City Manager will execute - a certificate in recordable form stating this Agreement has been performed, and Mensor shall be released of all further duties or obligations under this Agreement. F. The City Council reserves the sole and exclusive right to choose among the remedies for default enumerated in subsections A through D above. These alternate remedies may be used in conjunction with one another or exclusively, in the sole discretion of the City Council. - 6. ECONOMIC INCENTIVES PROVIDED BY THE CITY OF SAN MARCOS A. As partial consideration for the construction of the Improvements and installation of Equipment and the creation of the jobs described in Section 2 above, the City agrees to provide the following incentives and benefits to Mensor: I. The City agrees to waive all fees (the "Fee Waivers") associated with zoning, the subdivision process, utility connections, and building permits and inspections associated with the construction of the Improvements; provided, that this waiver shall not extend to 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.