Res 1989-034 - Laserfiche WebLink

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-3- 7P8 87fl . i ~ u 'J agreement. The City shall evaluate the information furnished, shall have the right to request and receive from Rohr additional relevant information needed to help the City determine Rohr's compliance with this Agreement. B. At all times until the City's rights to default Rohr have expired, the City shall have access to the property and facilities of Rohr for the purpose of inspecting same to ensure that the improvements are constructed, maintained and used in accordance with the conditions of this Agreement. V. DEFAULT A. From and after the date hereof, and during the Abatement Period covered by this Agreement and for one hundred eighty (180) days thereafter, the City Council may declare a default hereunder by Rohr if Rohr fails to commence construction of the improvements described in part II, above (other than the optional Additional Facilities), within the time frames set out in this Agreement; fails to construct the improvements described in part II, above; refuses, fails or neglects to comply with any of the terms of this Agreement, including the provision for the creation of jobs within a certain time period; or, if any representation made by Rohr in this Agreement or in its application to the City for Tax Abatement is false or misleading in any material respect. Should the City Council determine Rohr to be in default of this Agreement under this subsection, the City Council shall notify Rohr in writing prior to one hundred eighty (180) days after the end of the Abatement Period, and if such default is not cured within sixty (60) days from the date of such notice ("Cure Period"), then this Agreement may be terminated; provided, however, that in the case of a default, other than the creation of jobs, for causes beyond Rohr's reasonable control which Rohr cannot with due diligence cure within the sixty (60) day period, the Cure Period shall be extended if Rohr shall immediately upon receipt of such notice, advise the City of Rohr's intention to institute all steps necessary to cure such default and Rohr shall institute and thereafter prosecute to completion with reasonable dispatch all steps necessary to cure same. B. In the event that Rohr allows its ad valorem taxes to the City which may be owed on the property at Exhibit A (exclusive of the Rohr Portion) and improvements listed in Part II to become delinquent and fails to timely and properly follow the legal procedures for their protest and/or contest, or if Rohr violates any of the terms and conditions of this Agreement and fails to cure them during the Cure Period, this Agreement may then be terminated and all Abated Taxes previously abated by virtue of this Agreement will be recaptured, the Tax Abatement will be rescinded and such previously Abated Taxes will be paid within sixty (60) days of the termination. C. In the event the improvements (excluding. the Additional Facilities) are completed and Rohr begins to "produce product and service but subsequently ceases to produce such product or service for any reason except in case of fire, explosion or other casualty, accident or natural disaster, for a period of one (1) year during the abatement period, then this Agreement shall terminate. In the event of termination pursuant to the provisions of this paragraph, the Tax Abatement for the calendar year during which the facility no longer produces shall terminate but there shall be no recapture of prior years' Abated Taxes abated by virture of this Agreement. The Abated Taxes otherwise abated for the calendar year during which the facility no longer produces shall be paid to the City prior to the delinquency date for such year; provided, however, that in no event shall owner be required to pay such taxes within less than sixty ( 60) days of the termination.