Res13 15289 - Laserfiche WebLink

Browse Search

_.� _ � a _ __ . _ _. � 1.1.30 "Critical Path Mana�;ement Schedule" means the schedule to be prepazed by Developer and submitted to the City during the period of construction, as provided in Section 4.6.4. 1.1.31 "Default"means any Monetary,Default or Non-Monetazy Default. 1.1.32 "Deposit"means the initial amount of Five Hundred Thousand Dollars ($500,000) paid in immediately available funds, to be deposited by the Developer pursuant to Section 1.2. 1.1.33 "Developer Equitv Investment" means the commitment of funds by the Developer, in the form of funds that are not required to be repaid or funds loaned to the Developer, repayment of which is not secured by the Site, in an amount sufficient, when combined with the funds available to the Developer from the proceeds of the Loan, to pay one , hundred five percent (1�5%) of the aggregate costs of construction and installation of the Project,pursuant to the Construction Contract. ' 1.1.34 "Developer Event of DefaulY' shall have the meaning set forth in Section 7.4.1 of this Agreement. 1.1.35 "Developer Parties" means, collectively, the directors, officers, employees and agents of the Developer. 1.1.36 "Developer Party" means, individually, the directors, officers, employees or agents of the Developer. 1.1.37 "Developer's Proposal" means the proposal submitted by Developer for acquisition of the City Property and development of the Site, on or about Mazch 30, 2012, which proposals was submitted in response to a Request for Qualifications, dated August 30, 2011,prepared and circulated by City to parties interested in developing Block 2. 1.1.38 "Developer's Title Notice"means a written Notice from the Developer to both the City and the Escrow Agent indicating the Developer's acceptance of the state of the title to the City Property, as described in the Preliminary Report, or the Developer's disapproval of specific matters shown in Schedule B of the Preliminary Report, as exceptions to coverage under. the proposed Title Policy, describing in suitable detail the actions that the Developer reasonably believes are indicated to obtain the Developer's approval of the state of the title to the City Property. 1.1.39 "Developer's Title Notice Waiver" means a written Notice from the Developer to both the City and the Escrow Agent waiving the Developer's previous disapproval in the Developer's Title Notice of specific matters shown in Schedule B of the Preliminazy Report, as exceptions to coverage under the proposed Title Policy. 1.1.40 "Due Dili�ence Completion Notice" means a written Notice of the Developer delivered to both the City and the Escrow Agent,prior to the end of the Due Diligence Period, indicating the Developer's unconditional acceptance of the condition of the City Property or indicating the Developer's rejection or conditional acceptance of the condition of the City s 2013.118/BIOCK 2 HUNTER STORM REV:07-26-13 PT