6B(3) Dev Agr LaSalle Hotel - Laserfiche WebLink

Home Browse Search

i the Assessed Value of the improvements comprising the LaSalle Property. The Private Investment is described on Exhibit D attached hereto and incorporated herein. 1.10 Project Site. Project Site means the LaSalle Property and Support Parcel,together. 1.11 Substantial Completion. Substantial Completion means, with respect to the Project,the Developer's receipt of a certificate of occupancy or its local equivalent issued by the local governmental authority. 1.12 Support Parcel. Support Parcel means the property immediately adjacent to the LaSalle Property, as more particularly described in Exhibit A-1, together with all improvements thereon and all easements, rights, licenses and other interests appurtenant thereto. SECTION 2. EFFECTIVE DATE, INTERPRETATION,TERM AND RECITALS. 1 2.1 Effective Date. This Agreement shall be effective as of the date first written above (the "Effective Date"). y. 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 j " or "Article " shall be deemed to refer to the Section or Article of this Agreement 1 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. 1 (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 tins 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. c. 2.4 Recitals. The Recitals set forth above are a part of this Agreement for all purposes. SECTION 3. PURCHASE OF LASALLE PROPERTY AND GRANT OF EASEMENT. 3.1 Purchase. Subject to all of the terms,covenants and conditions of this Agreement, at Closing(as defined below)the Commission shall convey to Developer the LaSalle Property for - 3 - dins.us.5263741108