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06-26-14 Redevelopment Commission Meeting
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6/25/2014 12:07:49 PM
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1.01 Recitals Part of MOU. The G <br />are material to this MOU and are he <br />though they were fully set forth in this <br />ARTICLE II. <br />2.01 Mutual Assistance. The parties al <br />take such actions, including the execution <br />and certifications (and, in the case of tl <br />seeking any further approvals which ma <br />necessary or appropriate, from time to tin <br />MOU and to aid and assist each other in cA <br />ARTICLE III. <br />OF THE <br />3.01 Purchase of Equipment. The Con <br />the Equipment pursuant to the Act and thi <br />Company and subject to the terms of thi <br />shall be ordered as quickly as possible <br />Equipment shall be ordered within the <br />ordered within the 2016 calendar year. <br />expediently order the Equipment within <br />Indiana law. The Company shall provit <br />Commission in each period. The Commis <br />faith with regard to the selection and pric <br />Indiana law which the Commission is re( <br />price of the Equipment for the purposes c <br />includes the purchase price of the Equipmt <br />3.02 Equipment Lease Agreement. In <br />Equipment, the Commission shall undertal <br />the Company to enter into an equipmen <br />hereto at Exhibit C (the "Equipment Lease <br />the Equipment Lease upon the acquisition <br />Year 2 Equipment and Year 3 Equipment <br />such Year 2 Equipment and Year 3 Ec <br />Commission and the Company shall enter <br />and Year 3, respectively, to subject such ac <br />Equipment Lease. The Equipment Lease <br />Equipment by the Company from the Ci <br />payment amount of One Dollar ($1.00) pet <br />the Project, commences operations, achieve <br />I. RECITALS <br />and recitations set forth in the foregoing recitals <br />orporated into and made a part of this MOU as <br />1.01. <br />ASSISTANCE <br />c, subject to further proceedings required by law, to <br />id delivery of such documents, instruments, petitions <br />Commission, the adoption of such resolutions and <br />)e required, by the Act or Indiana law), as may be <br />to carry out the terms, provisions and intent of this <br />ying out said terms, provisions and intent. <br />.TIONS AND COVENANTS <br />AND THE COMPANY <br />scion shall use its best commercial efforts to acquire <br />quirements'ofIndiana law with the assistance of the <br />IOU. Year 1 Equipment (as defined in Exhibit B <br />llowing the execution of this Agreement; Year 2 <br />5 calendar year; and Year 3 Equipment shall be <br />Commission shall cooperate with the Company to <br />ch timeframe consistent with the requirements of <br />a specific list of equipment for purchase by the <br />n and the Company shall cooperate together in good <br />of the Equipment, subject to any requirements of <br />-ed to follow with respect to such acquisition. The <br />letermining the sum to be paid by the Commission <br />only (the "Purchase Price"). <br />tjunction with the Commission's acquisition of the <br />EL disposition process to permit the Commission and <br />mse agreement in substantially the form attached <br />The Commission and the Company shall enter into <br />'the Year I Equipment. Upon the purchase of the <br />the Commission and subsequent disposition of the <br />3ment by the Commission to the Company, the <br />'o an addendum to the Equipment Lease in Year 2 <br />iional Equipment to the terms and conditions of the <br />11, among other things, provide for the lease of the <br />mission for a term of ten (10) years, at a rental <br />= upon the condition that the Company completes <br />and maintains the desired employment levels as set <br />U&5420507.0e 3 <br />
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