75A - CREVIER DEVELOPMENT AGMT. - Laserfiche WebLink

Home Browse Search

Developer of each and all of the conditions precedent (I) through (9), inclusive, described below ("Developer's Conditions Precedent"), which are solely for the benefit of Developer, and which shall be fulfilled or waived by the time periods provided for herein: (I) No Default. Prior to the Close of Escrow, Agency shall not be in Default in any of its obligations under the tenns of this DDA and all representations and warranties of Agency contained herein shall be true and correct in all material respects. (2) Execution of Documents. The Agency shall have executed the Grant Deed and Quit Claim Deed and any other documents required hereunder, and delivered such documents into Escrow. (3) Review and Approval of Title. The Developer shall have reviewed and approved the condition oftitle of the Property, and the Agency shall be prepared to deliver marketable title to the Property to Developer in accordance with the approved condition oftitle, as provided in Section 407 ofthis DDA. (4) Title Policy. The Title Company shall, upon payment of Title Company's regularly scheduled premium, have agreed to provide to the Developer the Title Policy for the Property upon the Close of Escrow, in accordance with Section 408 of this DDA. (5) Discretionary Approvals. Prior to the Closing, the Agency and the Developer shall have obtained all City "Discretionary Approvals," thirty (30) days have passed since the posting ofthe Notice of Detennination for the Project, and no legal challenges shall have been filed against the Project, and if such challenge has been filed that it has been resolved to the satisfaction of both Agency and Developer, and the Agency shall have used its best efforts in cooperating with the City to obtain all other applicable pennits and approvals that must be issued by governmental units other than the City and the Agency. (6) Condition of the Property Acceptable. The Developer shall not have disapproved the environmental, soils and geotechnical condition of the Property within thirty (30) days of the Date of this DDA. (7) Acquisition of Property. The Agency shall have acquired clear, marketable title to for Parcel A ofthe Property. (8) Adverse Conditions. No lawsuit, moratoria, statute, rule, regulation, or similar judicial or administrative proceeding or governmental action shall exist which would materially delay or significantly increase the cost of the Project, or prevent Developer, as det€rn1ined in Developer's reasonable discretion, ITom constructing the Project in accordance with the Scope of Development. (9) Availability of Financing. The construction financing necessary to develop the Project is then available. 17