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MAIN STREET CONCOURSE 1 -2005
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MAIN STREET CONCOURSE 1 -2005
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Last modified
3/23/2017 12:02:30 PM
Creation date
10/25/2005 9:15:15 AM
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Contracts
Company Name
Main Street Concourse
Contract #
A-2005-052
Agency
Planning & Building
Council Approval Date
2/7/2005
Expiration Date
4/30/2013
Destruction Year
2018
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(b) The City shall be deemed to be in default under this <br />Agreement, upon the occurrence of one or more of the following <br />events: <br />(i) The imposition by the city upon Developer of <br />any ordinance, rule, regulation, policy or moratorium in <br />conflict with Existing Development Regulations or the terms of <br />this Development Agreement. The City shall not be deemed to be <br />in default by reason of subsequent change of laws, rules, <br />regulations, or policies of another local agency or governmen- <br />tal entity not created or controlled by City which prevents or <br />precludes compliance by City or Developer with this Develop- <br />ment Agreement; the City agrees not to initiate or promote any <br />such changes without Developer's express written consent. <br />(ii) The failure by the City to perform any covenant <br />or obligation required by this Development Agreement in the <br />time and manner set forth herein, including, without limita- <br />tion, completing the public improvements required to be <br />constructed by the City as set forth above in Section 11(a). <br />(c) Subject to extensions of time by mutual consent in <br />writing or as set forth in Section 18 above, if a default as <br />defined in subsection (a) or (b) ,above, As not cured by the <br />defaulting party within ninety (90) days of service of a notice of <br />default, or with respect to defaults which cannot be cured within <br />such period, the defaulting party. fails to commence to cure the <br />default within thirty (30) days after service of the notice of <br />default, or thereafter fails to diligently pursue the cure of such <br />default until completion, the non - defaulting party may terminate <br />the defaulting party's rights under this Development Agreement. In <br />the event of a default by either party which is not cured within <br />the time prescribed hereinabove, the non - defaulting party may <br />undertake one or more of the following remedies: <br />(i) Terminate this Development Agreement by written <br />notice stating the grounds for such action; or <br />(ii) Institute an action for specific performance of <br />this Development Agreement, it being expressly agreed that, in <br />the event of a breach of this Development Agreement, irrepara- <br />ble harm is likely to occur to the nonbreaching party and <br />damages are not an available remedy. <br />(d) In no event shall either party be entitled to <br />damages against the other party based on the other party's default <br />under this Agreement. <br />21. Estoppel Certificate. <br />Either party may, at any time, and from time to time, <br />deliver written notice to the other party requesting such party to <br />25 <br />
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