No. 2241 approving a development agreement with gameday centers Southeastern, LLC and related matters

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• 1.8 State State of Indiana 1.9 Term The Term of this Agreement commencing upon the Effective Date and shall continue as set forth in Section 2.2. SECTION 2.0 EFFECTIVE DATE AND TERM. 2.1 Effective Date. This Agreement shall become effective upon the date this Agreement is executed by the Commission or the Developer, whichever is later ( "Effective Date "). 2.2 Term. The term of this Agreement ( "Term ") shall commence upon the Effective Date and shall continue for a period of five (5) years. The terms of this Agreement as they relate to the Commission Purchase Option shall survive the expiration of the Agreement should the Developer exercise said Commission Purchase Option. SECTION 3.0 DEVELOPER'S OBLIGATIONS. 3.1 Generally. Developer acknowledges and agrees that Commission's agreement to perform and abide by the covenants and obligations set forth in this Agreement is material consideration of Developer's commitment to perform and abide by the covenants and obligations of Developer contained in the Agreement. 3.2 Project Development. The Developer shall construct, develop and equip a structure on the Site consisting of (i) a parking facility containing approximately three hundred fifty -nine (359) parking spaces (the "Parking Facility "); (ii) a condo and hotel development containing approximately one hundred fifty (150) condos and providing approximately one hundred (100) hotel spaces (assuming the condo owners make them available for such purpose) (the "Condo Development "); and (iii) ground floor retail shops and/or restaurants totaling approximately 12,000 square feet (the "Retail Shops" and with the Parking Facility and the Condo Development, the "Project"). 3.3 Project Requirements. In completing and operating the Project, the Developer hereby agrees to do the following: A. Provide the Commission the opportunity to approve the design work for the Project, including the structure's aesthetic presentation (including its initial color, texture and style), the Project's layout (including but not limited to the location of the entrance and exit of the Parking Facility), the Project's compatibility with neighboring structures and streets, and its general guidelines for signage; provided that such approval by the Commission shall not be unreasonably withheld. F:\ DATA \SHAREU.egal \Wpdata \SEP \Economic Development \Gameday \Gameday Development Agreement (version 4).doc 3