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75E - PH 2525 MAIN ST
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75E - PH 2525 MAIN ST
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Last modified
2/1/2019 4:04:49 PM
Creation date
2/1/2019 3:58:07 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Planning & Building
Item #
75E
Date
2/5/2019
Destruction Year
2024
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(e) The Executive Director for the Planting and Building Agency shall have <br />the administrative authority to determine that OWNER has complied with the above conditions. Such <br />determination shall not be unreasonably withheld or delayed. <br />2.5.2 Release of Transferrins Owner. Notwithstanding any sale, transfer <br />or assignment, a transferring OWNER shall continue to be obligated under this Agreement <br />with respect to the transferred Property or any transferred portion thereof, unless such <br />transferring OWNER is given a release in writing by CITY, which release shall be provided <br />by CITY upon the full satisfaction by such transferring OWNER of the following <br />conditions: <br />(a) OWNER no longer has a legal or equitable interest in all or any part of <br />the Property subject to the transfer. <br />(b) OWNER is not then in default under this Agreement. <br />(c) OWNER has provided CITY with the notice and executed agreement <br />required under Paragraph (b) of Subsection 2.5.1 above. <br />(d) The purchaser, transferee or assignee provides CITY with security <br />equivalent to any security previously provided by OWNER to secure performance of its obligations <br />hereunder. <br />2.5.3 Subsequent Assignment. Any subsequent sale, transfer or <br />assignment after an initial sale, transfer or assignment shall be made only in accordance with <br />and subject to the terms and conditions of this Section. <br />2.5.4 Utilities. The Project shall be connected to all utilities necessary to <br />provide adequate water, sewer, gas, electric, and other utility service to the Project, prior to <br />the issuance of final approval for occupancy or the certificate of occupancy for any portion <br />of the Project. <br />2.5.5 Sale to Public and Completion of Construction. The provisions of <br />Subsection 2.5.1 shall not apply to the sale or lease (for a period longer than one year) of <br />any lot that has been finally subdivided and is individually (and not in "bulk") sold or leased <br />to a member of the public or other ultimate user. This Agreement shall terminate with <br />respect to any lot and such lot shall be released and no longer be subject to this Agreement <br />without the execution or recordation of any further document upon satisfaction of both of the <br />following conditions: <br />(a) The lot has been finally subdivided and individually (and not in "bulls") <br />sold or leased (for a period longer than one year) to a member of the public or other ultimate user; and <br />(b) City final approval for occupancy or the certificate of occupancy has <br />been issued for a building on the lot, and the fees for such lot set forth in this Agreement have been <br />paid. <br />55393.0000201553187.10 <br />2.6 Amendment or Cancellation of Agreement. This Agreement may be <br />amended or canceled in whole or in part only by written consent of all parties in the <br />75E-133 <br />
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