Laserfiche WebLink
Cv � 8�4 <br /> Section 1. Incorporation o£ Recitals. The Agency <br /> and the Developer agree that the recitals set £orth above are true <br /> and correct and the same are hereby incorporated by this reference <br /> into the body of this Agreement. <br /> SeCtion 2. F.xclLSive Neaotlation. <br /> a. The Agency and the Developer hereby agree during <br /> the Term (as defined hereinafter) of this Agreement, and subject to <br /> the terms and conditions hereof, to negotiate in good faith a <br /> Disposition and Development Agreement ("DDA") for the development <br /> by the Developer of the Project on the First Community Parcel. The <br /> Agency agrees that it will not negotiate with any other developer <br /> for development of the First Community Parcel during the Term. The <br /> Agency will not solicit proposals from other developers with <br /> respect to the First Community Parcel during the Term. <br /> b. The exclusivity granted by the Agency in this <br /> Agreement is as to the �'irst Community Parcel, and the Agency <br /> reserves the right to engage in discussions or negotiations, or to <br /> finalize agreements, with other parties for projects, including <br /> similar or competing projects, on other sites. <br /> Section 3 Neaotiations <br /> The Agency ancl the Developer agree to negotiate during <br /> the Term in order to deter_mine the feasibility of the Project, and <br /> if the Project is initially determined to be feasible, to negotiate <br /> the terms of a DDA concerning the development of the Project on the <br /> Fi_st Community Parcel, subject to the approval of the Board of the <br /> yge::cy and to the rules, regulations and laws governing the <br /> accivities of the Agency. The parties to this Agreement <br /> a�knowledge and agree that (i) the Agency will be negotiating with <br /> :acitat for the development of the Habitat Parcel, which <br /> ::egotiations shall not be deemed to be prohibited by this <br /> �c_eemer.t, (ii) the Agency will not entez into a DDA with either <br /> the Develaoer or Habitat unless it reaches DDA's acceptable to the <br /> A�e.^.cy with both, and (iii) both DDAS will provide that the close <br /> �f escrow for the transfer of either parcel of the Property is <br /> conditioned on the simultaneous close of escrow for both parcels. <br /> �_ determination that either the Project or the Habitat Project is <br /> ::et feasible shall constitute a determination that both the Project <br /> a::d the Habitat Project are not feas=ble. <br /> 2 <br />