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6A(1) First Amendment to Development Agreement with WNIT Public Broadcasting
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6A(1) First Amendment to Development Agreement with WNIT Public Broadcasting
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providing WHIT notice of the Commission's intent to renew fifteen (15) days prior to <br />the expiration of the original six (6) month term or any subsequent thirty (30) day <br />renewal. In any event, the Easement shall expire two (2) years from the date of the <br />Easement unless the parties agree, in writing, to an extension. <br />2. Paragraph 5 of the Agreement is modified to read as follows (modifications <br />italicized): <br />The Project is scheduled to be completed by October 1, 2010. If WNIT fails <br />to substantially complete its renovation plans to the Property within a reasonable <br />time, the Commission may terminate the Easement and WNIT will pay to the <br />Commission all documented expenses incurred for the Donated Property, less any <br />expenses reimbursed by the title insurance policy, if partial rehabilitation is due to <br />any title defects or newly discovered encumbrances. WHIT will also pay all <br />expenses incurred if the overall building project is not finished and open for service <br />within eighteen (18) months after the expiration of the Easement to the Donated <br />Property. <br />3. Each and every other provision contained in the Agreement and the Easement is <br />hereby ratified, approved and affirmed by the Parties. <br />4. The Parties acknowledge and agree that this Amendment shall relate back to the date <br />of the execution of the Agreement and that all remaining terms and conditions, as set forth in the <br />Agreement shall remain in full force and effect. <br />This Amendment may be executed in counterparts, all of which shall be deemed <br />originals. <br />6. The undersigned persons executing and delivering this Amendment on behalf of the <br />Tenant represent and certify that they are the duly elected officers of Tenant and have been fully <br />empowered, by proper resolution of the Board of Directors to execute and deliver this Amendment <br />and that all necessary corporate action has been taken and done. <br />[SIGNATURE PAGE ATTACHED] <br />
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