6A(2) - Laserfiche WebLink

Home Browse Search

1.9 Private Investment. Private Investment means the sum of the construction and improvement costs associated with the Project, including architectural, engineering and any other costs directly related to construction of the Project that are expected to contribute to increases in the Assessed Value of the improvements comprising the Hoffman Hotel Property. The Private Investment is described on Exhibit D attached hereto and incorporated herein. 1.10 Project Site and Project. Project Site means the Hoffman Hotel Property. Project means the development of the Hoffman Hotel Property contemplated by this Agreement. SECTION 2. EFFECTIVE DATE,INTERPRETATION,TERM AND RECITALS. 2.1 Effective Date. This Agreement shall be effective as of the date first written above(the "Effective Date"). 2.2 Interpretation. (a) The terms "herein", "hereto", "hereunder" and all terms of similar import shall be deemed to refer to this Agreement as a whole rather than to any Article, Section or Exhibit to this Agreement. (b) Unless otherwise specified, references in this Agreement to (i) "Section " or "Article " shall be deemed to refer to the Section or Article of this Agreement bearing the number so specified, (ii) "Exhibit " shall be deemed to refer to the Exhibit of this Agreement bearing the letter or number so specified, and (iii) references to this "Agreement" shall mean this Agreement and any exhibits and attachments hereto. (c) Captions used for or in Sections, Articles and Exhibits of this Agreement are for convenience of reference only and shall not affect the construction of this Agreement. (d) The terms "include", "including" and "such as" shall each be construed as if followed by the phrase "without being limited to". 2.3 Term. The "Term" of this Agreement shall commence upon the Effective Date and continue until the date on which the occupancy permits for the Project have been received. Notwithstanding the foregoing, those obligations which by the terms of this Agreement are to continue, shall survive beyond the termination date of this Agreement. 2.4 Recitals. The Recitals set forth above are a part of this Agreement for all purposes. SECTION 3. GRANT OF EASEMENT. 3.1 Grant of Easement. Developer shall grant to the Commission a temporary non- exclusive easement on, in, over and across the Hoffman Hotel Property to permit the Commission to fulfill its obligations under this Agreement, including, but not limited to the construction, equipping and delivery of the Local Public Improvements (the "Easement") in such form as mutually agreed to between the Parties. The Easement shall (a) run with and burden the (20142670.DOCX}