Laserfiche WebLink
<br /> ({ltG 2' ') <br /> (" ' " .it t, <br /> ,J ~l <br /> -9- <br /> to and shall not resul t in a forfeiture of the <br /> Tax Abatement provided for herein; however, in such case <br /> CTMC agrees to give written notice thereof to the City <br /> within ten (10) days of such transaction. <br /> B. Upon the request of CTMC, when CTMC has arranged a <br /> party to finance the project herein contemplated, the City <br /> will enter a three-party transfer agreement under which all of <br /> the rights and obligations of the parties hereunder will be <br /> preserved, although the named parties to this Agreement may be <br /> amended to include the financing party. <br /> C. In addition to the aforesaid permitted assignments, this <br /> Agreement may be assigned to a new owner or lessee of the <br /> facility with the written consent of the City Council, which <br /> consent shall not be unreasonably withheld. Any assignment <br /> shall provide that the assignee shall irrevocably and <br /> unconditionally assume all the duties and obligations of <br /> the assignor upon the same terms and conditions as set out in <br /> this Agreement. Any assignment of this Agreement shall be to <br /> an entity that contemplates the same improvements to the <br /> property, except to the extent such improvements have been <br /> completed. No assignment shall be approved if CTMC or the <br /> assignee are indebted to the City for ad valorem taxes or <br /> other obligations. <br />