8809-15 Authorizing agreement with Rockport Square LLC

Home Browse Search

requirements of applicable federal, state and local laws, including the ordinances and regulations of the City (as amended or modified by the City's review bodies, by variance or otherwise, to permit construction of the Public Improvements, as provided herein). It is acknowledged that the Additional Developer Improvements will be constructed on an as needed basis, in anticipation of lots to be sold to the Builder. (D) All of the following services shall be provided by the Developer promptly within the time periods as set forth below, or by later agreement of the parties, with the Developer employing reasonable efforts as determined in the Developer's and City's reasonable discretion, and, to the extent applicable, the same shall be the on -going obligations of the Developer throughout the construction phases of the Project: (1) On or before sixty (60) days after the-J✓ffective Date, the Developer shall provide to the City the following: (a) comprehensive demolition plans for the- demolition, razing and removing of currently remaining structures at c provements on the Additional Project Property (the "Demolition Plans");_ (b) the preparation of all site plans, surveys, maps, architectural plans, designs and speeifleations for the Additional Project, which comprise the Demolition Plans, Additional Public Improvement Plans and the Additional Developer 11 mprovements Plans, to be prepared by reputable architects and engineers, licensed - to do business in the State of Ohio (collectively, the "Plans and Specrfteations "); (c) copies of all inspections, permits and licenses previously obtained by the Developer for the kdditional Project, and the payment of all fees associated with such licenses permits and inspections as necessary to cause the Additional Project =fo comply with applicable laws and City ordinances, which obligation shall be an ongoing obligation of the Developer under the terms of this Development Agreement, and the Developer- shall continue to provide all additional inspections, permits and licenses, and the fees associated with each, as they become available; (d) A written affirmation of that certain Guaranty of Completion dated 2004, given by Forest City Enterprises, Inc., an Ohio corporation, in favor of the City (the "Original Completion Guaranty "), as to the completion of the Additional Project; (e) A Guaranty of Forest City Enterprises, Inc. (the "Replacement Guarantor ") in the form of Exhibit _ hereto (the "Replacement Guaranty "), replacing that certain Guaranty dated , 2004 given by Kenneth Lurie in favor of the City (the "Lurie Guaranty "), which Replacement Guaranty shall specifically guarantee the payment by the Replacement Guarantor of the difference between (i) the Debt Service due and payable on the Bonds and (ii) the Project Service (03163827.DOCX;6 ) 11727136.4 (2026928x2) 5