Interlocal Cooperative Agreement - Development of Real Property in Renewable Energy Drive Subdivision

Home Browse Search

Page 2 of 16 WHEREAS, the Parties agree that it is in their mutual interest that Mishawaka Unit Site be located on the Property, for the convenience and safety of the traveling public, and that they seek to cooperate in the improvement of the Property, with its infrastructure and future improvements; and WHEREAS, it is in the mutual interest of the Parties to have a contract outlining the express terms of their agreements; and NOW THEREFORE, in consideration of the premises and the mutually dependent covenants herein contained, the PARTIES hereto agree as follows: ARTICLE I. PURPOSE, TERM, AND DEFINITIONS 1.1. Recitals. The Recitals recorded above are incorporated by reference into this Agreement. All captions, section headings, paragraph titles and similar items are provided for the purpose of reference and convenience and are not intended to be inclusive, definitive or to affect the Interpretation of this Agreement. 1.2. Purpose. The purpose of this Agreement is to define the respective roles and responsibilities of the PARTIES for the construction, installation, funding, and maintenance of the proposed improvements described within this Agreement. 1.3. Term. This Agreement shall be effective beginning on the date approved as to form and legality by the Office of the Indiana Attorney General (the "Effective Date"). This Agreement shall expire five (5) years after the Effective Date. Sections 2.3, 2.4, and 3.21 of this Agreement shall survive the expiration of this Agreement. 1.4. Termination. This Agreement shall terminate if the following occur: 1.4.1. If INDOT does not acquire the Property, due to the Purchase Agreement between the Seller and INDOT being terminated, this Agreement will be terminated as of the termination date of the Purchase Agreement. 1.4.2. Either party may terminate this Agreement in the event that a party commits a material breach of this Agreement and such breach is not cured within thirty (30) days of written notice to the breaching party. 1.5. “INDOT” or “State.” Within this Agreement, when referring to INDOT or the State, it shall be understood that this includes contractors and professionals hired by INDOT or the State to perform the services contemplated within this Agreement unless otherwise specified herein. 1.6. Scope of Work. The scope of development work contemplated in this Agreement include additions to the CITY’s existing water system to serve the Property, and construction of a sidewalk along public right-of-way. The water main work shall hereafter be referred to as the “Dedicated Improvements.”