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City Draft
<br /> 6128113
<br /> 5.5 Obligation to Refrain from Discrimination. The Developer covenants
<br /> and agrees for itself, its successors, its assigns and every successor-in-
<br /> interest to all or any portion of the Site,that there shall be na
<br /> discrimination against or segregarion.of any Person, or group of Persons,
<br /> on account of gender, sexual orientation, marital status,race, color,
<br /> religion, creed,national origin or ancestry in the sale, lease, sublease,
<br /> transfer, use, occupancy, tenure or enjoyment of the Site nor shall the
<br /> Developer, itself or any Person claiming under or through it, establish or
<br /> permit any such practice or practices of discrimination or segregation with
<br /> reference to the selection, location,number, use or occupancy of
<br /> purchasers, tenants, lessees, sub-tenants, sub-lessees or vendees af the
<br /> Site. The covenant of this Section 5.5 shall be a covenant running with the
<br /> �and and binding on successive owners of a11 or any portion of the Site in
<br /> P�etaitY• ............................................................................................................ 41
<br /> 5.G Survival and Enforcement of Special Development Covenants. ...................41
<br /> .ARTICLE 6 DEVELOPER FINANCING OF PROJECT..........................................................42
<br /> 6.1 Developer's Financing for the Project. The Developer shall complete or
<br /> ca�se to be completed all actions necessary to secure and provide evide�nce
<br /> of adequate sufficient to complete development of the Project in
<br /> accordance with the Agreement. Funding rnay be in the form of equity
<br /> capital,preferred equity, debt,financing, including both secured and
<br /> unsecured debt(a"Loan"),disposition proceeds and cash flow from
<br /> apera�ions, in an amount sufficient to complete the acquisztion of the City
<br /> Property and construction of the Project on the Site, and to cornply with all
<br /> other requixements imposed upon Developer as provided herein. Within
<br /> the time established in the Performance Schedule (Exhibit D),the
<br /> Developer shall submit to the City evidence, in a form zeasonably
<br /> acceptable to the City, that it has the funds required to rneet cornmitrnents
<br /> to canstruct the Project in accordance with this Agreement. The evidence
<br /> provided m.ust demonstrate to the City's reasonable satisfaction that the
<br /> Developer's Equity Investment and Loar� (if applicable) secured by the
<br /> Developer are equal to or exceed the total costs of the acquisition of�he
<br /> City Property and development af the Project. City acknowledges that, as
<br /> of the Effective Date of this Agrcement, Developer has chosen to use J�
<br /> Morgan Chase as one of its primary Lender for the Project and that City
<br /> approves of this Len.der, or any private equity group,natianally chartered
<br /> ban�l�,nahonal association, federal association bank, savings and loan
<br /> associatian, investment bank, state chartered bank, lending institution or
<br /> other�institutional lender which has a net worth of Five Billion Dollars
<br /> ($5,000,000,000}ar more. Any encumbrance associated with financing of
<br /> the Project that is approved by the City under this Agreement shall be
<br /> deerned a Permitted Encumbrance.......................................................................42
<br /> 82�83.0000917571312.10 ix
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