04 - JOINT PH - Habitat DDA - Laserfiche WebLink

Home Browse Search

Requirement of the 1986 Tax Reform Act as may be required by Escrow Agent, on the form to be supplied by Escrow Agent. g. Prepare and file with all appropriate governmental or taxing authorities a uniform settlement statement, closing statement, tax withholding fot~rns including an IRS 1099-5 form, and be responsible for withholding taxes, if any such forms are provided for or required by law. 202.5 Closing. The Closing of each Phase of this transaction shall occur within ten (10) days of the parties' satisfaction of all Conditions Precedent to Closing as set forth in Section 205 hereof, and only after issuance of building permits and adequate approved proof of financing. The Closing of each Phase shall occur at the offices of Escrow Agent at a time and place reasonably agreed on by the parties 202.6 Termination. A. Termination by the Developer. In the event that: (i) The Developer is unable to obtain financing necessary for the construction of the Improvements, or (ii) The Agency is in default of the Agreement and has not cured or commenced to cure such default within the time period set forth herein. Then, subject to any applicable cure provisions contained in this Agreement, at the option of the Developer, thirty (30) days after written notice thereof is delivered to the Agency, all provisions of this Agreement regarding the future purchase of Phases shall terminate and be of no further force and effect. Thereafter, neither the Agency nor the Developer shall have any further rights against or liability to the other with respect to this Agreement and any Phase not previously purchased. B. Termination by the Agency. In the event that: (i) The Developer (or any successor in interest) assigns or attempts to assign this Agreement or any rights therein or in the improved parcels in violation of this Agreement; or (ii) The Developer fails to proceed with or suspends work on any Project; or (iii) The Developer does not submit certificates of insurance, construction plans, drawings and related documents as required by this Agreement, in the manner and by the dates respectively provided in this Agreement and such default or failure shall not be cured within thirty (30) days after the date of written demand therefor by the Agency; or (iv) The Developer does not satisfy the Agency's Conditions to the Conveyance of the corresponding Houses and corresponding Parcels by the time established therefor in the Schedule of Performance; or 11 EXHIBIT 4