DELHI CENTER - DELHI PARK CONSTRUCTION AND FUNDING AGMT-2000

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In the event of termination of this Agreement by Delhi as provided in Section 507 herein, the City shall retain all revenues deposited therewith for completion of construction of the Community Center. Section 602. Limitations on Transactions A. It is stipulated and agreed by the parties hereto that the City has entered into this Agreement for the purpose of constructing the Community Center in accordance with the goals and objectives of this Agreement, that the qualifications, plans and grants submitted by Delhi in furtherance of this purpose were essential to City's agreement with Delhi for the development of the Property, and that Delhi is not entitled by this Agreement to obtain profit through speculation in developed or undeveloped land. The limitations of this section are imposed to promote the foregoing purposes. B. Except as otherwise provided in subsection C of this section, Delhi shall not do any of the following transactions or permit them to occur without the written consent of the City, which shall not be unreasonably withheld: I . Assign all or any part of this Agreement. 2. Allow any significant change in more than 50% of the membership, management, or control of Delhi (exclusive of the death or incapacitation of any person in such position). 1. 3. Make any total or partial sale, transfer, conveyance or assignment of the whole or any part of the Property. C. The prohibition contained in subsection B of this section shall not apply to, and the City hereby consents to, the following: Associations with other entities for the purpose of performing Delhi's obligations under this Agreement, provided Delhi retains operational and managerial control. 2. Easements or temporary permits to facilitate development of the Property. Leases of building space with other entities for the purpose of performing Delhi's obligations under this Agreement, provided Delhi retains operational and managerial control. 4. Grant applications or other financing documents executed for the purpose of securing loans to Delhi made to finance the acquisition and/or development of the Property.