AgdaPkt 2003-09-22 - Laserfiche WebLink

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1'4 6- q Agreements 1. Acauisitio)n of Project Site: Ownership of Completed Public Parkina Facilitv: Notice to Proceed. A. The City has completed acquisition of, or holds order(s) of prejudgment possession for, the remainder of the Project Site. However, i is unable to relocate tenants from the Project Site in accordance with the Sch ede - wb f Performance attached to the DDA, this Agreement shall terminate and Citt�an� shall reimburse Developer for pre - construction design costs incuEced by Develi as of the date of termination in accordance with the Precons Agreement. n termination, Developer shall deliver all documents, plate drawings _re nderings, s studies and other papers, or copies thereof, including working papers, in hard copy and electronic format, prepared b or Consultants pursuant to the terms of the Preconstructiois ent as p%ided in the Preconstruction Agreement, and those materials shall2 and ti t he ps rty of City and Agency. B. Title and "" "" of the arkirtg�Eacility shall vest absolutely in City upon completi nd acce ce of soh improvements by City and Agency, and, prior thereto, title tgaA material ed in the of the improvements shall vest in the City upon pay' t er than Developer's fee) described in the Agreement. C. Develo ha begin excavation or other work on the Project Site under this Agreement unLWnd u s the City and Agency have issued a written Notice to Proceed:. The Notice t _ roceed will be issued, if at all, at the sole discretion of the City and Agen YDeveopper fore October 22, 2003 and only if the following events have occurred: i) thency determine that they can relocate all tenants in a timely manner, and iihas satisfied t he City and Agency of his ability to finance and complete the Retail /Cinema project, including but not limited to providing documents requested by City and Agency. If the parties agree to extend this Agreement as provided in Section 9(C), below, the parties will establish a new time limit for issuance of a Notice to Proceed.