|
Implementation Agreement acceptable to both parties, in their sole and respective discretion, in which case
<br />this Agreement will terminate on the effective date of such implementation Agreement.
<br />13. Restrictions Against Change ill Ownership Manyment and Control. The qualifications
<br />and identity of Petra and its principals are of particular concern to the City. it is because of these
<br />qualifications and identity that the City has entered into this Agreement with Petra. No voluntary or
<br />involuntary successor -in -interest of Petra shall acquire any rights at powers under this Agreement.
<br />14. Petra to Pay All Costs and Expenses. All fees or expenses of engineers, architects, financial
<br />consultants, legal, planning or other consultants or contractors, retained by Pertra for any study, analysis,
<br />evaluation, report, schedule, estimate, environmental review, planning and/or design activities, drawings,
<br />specifications or other activity or matter relating to the Property or the Project or the Implementation
<br />Agreement that may be undertaken by Petra, pursuant to or in reliance upon this Agreement or in Petri's
<br />discretion, regarding any matter relating to the Property or the Project or the Implementaion Agreement, if
<br />any, shall be the sole responsibility of and undertaken at the sole cost and expense of Petra, and no such
<br />activity or matter shall be deemed to be undertaken for the benefit of, at the expense of or in reliance upon
<br />the City. Petra shall also pay all fees, charges and costs, make all deposits and provide all bonds or other
<br />security associated with the submission to and processing by the City and all applications and other
<br />documents and information to be submitted to the City and by Petrapursuant to this Agreement or otherwise
<br />associated with the Project and the Implementation Agreement, if any. The City shall not be obligated to
<br />pay or reimburse any expenses, fees, charges or costs incurred by Petra in pursuit of any study, analysis,
<br />evaluation, report, schedule, estimate, environmental review, planning and/or design activities, drawings,
<br />specifications or other activity or matter relating to the Property or the Project or Implementation
<br />Agreement, if any, that may be undertaken by Petra under this Agreement, whether or not this Agreement
<br />is, eventually, terminated or extended or a subsequent agreement is entered into among the parties, in the
<br />future. Petra shall be soley responsible for all costs associated with the Project, including without limitation
<br />all installation, equipment, operating and maintence costs.
<br />13. Acknowledgments and Resevations.
<br />(a) The parties agree that, if this Agreement expires or is terminated for any reason, or an
<br />Implementation Agreement is not approved and executed by tine parties, for any reason,
<br />none of the parties shall be under any obligation, nor have any liability to each other or any
<br />other person whatsoever, except those obligations that may reasonably be construed to
<br />survive expiration or termination of this Agreement, including without litnitation Sections
<br />2, 4, and 8.
<br />(b) Petra acknowledges and agrees that no provision of this Agreement shall be deemed to be
<br />all offer by the City, nor an acceptance by the City of any offer or proposal from Petra for
<br />the City, to convey any estate or interest in the Property to Petra or for the City to provide
<br />any financial or other assistance to Petra for development of the Property or execution of
<br />the Project.
<br />(c) Petra acknowledges and agrees that Petra has not acquired, nor will acquire, by virtue of
<br />the terms of this Agreement, any legal or equitable interest in real or personal property
<br />from the City.
<br />(d) Certain development standards and design controls for the Project may be established
<br />among the parties, but it is understood and agreed annong the parties that any
<br />implementation of the Project must conform to all City, and other applicable governmental
<br />development, land use and architectural regulations and standards. Drawings, plans and
<br />Page 4 of 7
<br />
|