Res 1993-169 - Laserfiche WebLink

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, !b3 f+ 2. 1030 402 F. This Agreement is entered into subject to the rights of the holders of outstanding bonds of the City. G. The Property is not owned or leased by any member of the San Marcos City Councilor any ,..-. ~ f ! member of the City Planning Commission or any member of the City Zoning Commission. H. All proposed improvements, as described in Section 2 below shall conform to all applicable City ordinances and regulations, including but not limited to the City's Construction Codes, Master Plan, Subdivision Ordinance and Zoning Ordinance. 2. PROPERTY IMPROVEMENTS AND JOB CREATION A. The Tenant agrees to construct improvements (the "I mprovements") on the Property, consisting of renovation and remodeling of an existing 88,440 square foot building, the total estimated cost of which . is approximately $2.4 million, and to install equipment (the "Equipment") on the Property, the total estimated cost of which is approximately $10 million, for the operation of a state-of-the-art research and development and manufacturing facility for batteries for electric vehicles. The Tenant shall complete the construction of the Improvements and the installation of the Equipment by December 1, 1994. l B. The Tenant agrees to create, and to have on the payroll the following numbers of full-time jobs at the facilities described above no later than the respective deadlines specified: - , Date New Jobs Cumul?tive Jobs December 31, 1994 50 50 December 31, 1995 30 80 December 31, 1996 40 120 Persons tiling these jobs may be employees or leased employees of the Tenant or of the Tenant's parent companies, 8DM International, Inc. and Electrosource, Inc. C. Notwithstanding the fact that the Owner's obligations under this Agreement are to be accomplished through the Tenant, the Owner shall remain subject to the City's remedies for default to the