6A1 MOU - Laserfiche WebLink

Home Browse Search

1) General. (a) The representations, covenants, and recitations set forth in the foregoing recitals are material to this Agreement and are hereby incorporated into and made part of this Agreement as though they were fully set forth in this Section. (b) The Parties agree, subject to the further proceedings required by law, to take such actions, including the execution and delivery of such documents, instruments, petitions and certifications (and in case of the Park Board, the Commission and the Board of Public Works, the consideration of the adoption of such resolutions), as may be necessary or appropriate, from time to time, to carry out the terms, provisions, and intent of this Agreement and to aid and assist each other in carrying out said terms, provisions, and intent. 2) Project Completion. The Company agrees that it will undertake the Project, and that the Project will result in a private investment of approximately $ The Project shall be constructed consistent with the elevation drawings at Exhibit B attached hereto and made a part hereof. The Company desires to begin construction on or about October 1, 2014, to provide for completion in time for the Project to be available for use by the Team at or prior to the start of the 2015 baseball season. The Company shall cause the Project to be completed in compliance will all zoning and land use laws and ordinances in all material respects. Upon completion of the Project,the Company expects to make the Project available for public use at commercially reasonable rates, subject to the priority access of the Team. 3) Property Transfers. In order to provide for the completion of the Project by the Company as set forth in.Section 2 hereof, the Park Board, the Board of Works and the Commission agree to undertake the following transfers: (a) Subject to all of the terms, covenants and conditions of this Agreement, including without limitation the reconveyance obligation set forth herein, the Park Board and the Board of Works agree to adopt substantially identical resolutions pursuant to Indiana Code 36-1-11-8 for the purpose of agreeing to the Park Board conveying its interest in the Park Parcel to the Board of Works, acting for and on behalf of the City. Such transfer shall be completed as soon as reasonably possible following the approval and execution of this Agreement. (b) The Redevelopment Commission agrees to undertake such actions as may be necessary to amend the Plan to add the Project Parcel to the property acquisition list set forth in the Plan which actions are subject to approval by the Area Plan Commission and the South Bend Common Council. (c) Once the Commission has completed the actions necessary to amend the Plan to add the Project Parcel to the acquisition list in the Plan, the Commission and the Board of Works agree to adopt substantially identical resolutions pursuant to Indiana Code 36-1-11-8 for the purpose of agreeing to the Board of Works, acting for and on behalf of the City, conveying its interest in the Project Parcel to the Commission. -3 - US.54748561.02