Laserfiche WebLink
WHEREFORE, in consideration of their mutual and respective <br />promises, and subject to the terms and conditions hereinafter set <br />forth, the parties hereto do hereby agree as follows: <br />ARTICLE 1 <br />DEFINITIONS <br />1.01. "City Loan" means a supplemental loan by the City to the <br />Developer pursuant to section 3.01 of this Agreement. <br />1.02. "City Note" means a promissory note evidencing <br />Developer's obligation to repay the. City Loan or any part thereof <br />in the form or forms prescribed by Section 3.02 of this Agreement. <br />1.03. "Development" means construction or rehabilitation or a <br />combination thereof. <br />1.04. "Lender" means the bank or other -lender that has issued <br />the loan commitment referenced in Attachment C of this Agreement. <br />1.05. "City Manager" means the City Manager of City or his or <br />her designated representative. <br />ARTICLE 2 <br />DEVELOPMENT OF THE PROPERTY <br />2.01 Work to be Performed <br />Developer agrees to develop the Project in accordance with <br />Attachment B and with plans approved by City consistent with said <br />Attachment B. <br />2.02 ADT)roval of Construction plans <br />Developer has submitted for City approval preliminary <br />construction drawings, elevations, and an estimate of construction <br />costs for the Project. Agency hereby approves the concept of the <br />Project's development as disclosed thereby, subject to approval of <br />final construction plans consistent. therewith by City's Planning <br />and Building Safety Agency. <br />2.03. Cost of'Construction <br />The cost of developing the Subject Property shall be borne by <br />Developer. <br />Page 2 of 10 Pages <br />EXHIBIT T <br />