03-2024 - Authorize Development Agreement with LDC Warren LTD, LLC

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DocuSign Envelope ID: 92860B03-367C-49AA-BA95-OFDE6BFCF177 Two. At such time as Developer shall have obtained all building permits, zoning approvals, historic conservation approvals to the extent applicable, and other governmental approvals required for that phase of the Project, Developer shall promptly commence and thereafter complete the construction of the Project as reflected in the Project Plans, in material compliance with all applicable laws, and in accordance with the terms set forth in the applicable construction agreement(s). Developer shall be responsible for acquiring and paying for all State, local, or Federal permits required for the Project. The time for performance indicated above is subject to, without limitation, any approved extensions by the City for delays beyond the reasonable control of the Developer that prevent the Developer from timely performing its obligations under this Agreement, including, but not limited to, any statewide public health emergency, as formally declared by the State of Ohio. A request for extension must be in writing and will be granted, if, within the City's reasonable determination, delays are beyond the reasonable control of the Developer. At all times during construction of the Project, the Developer shall have available and made known to the City a competent representative who is knowledgeable and familiar with the Project. The representative shall be capable of reading plans and specifications and shall have the authority to address any questions raised by the City with respect to such plans and specifications. XIII. USE AND DESIGN RESTRICTIONS Developer, for itself and its successors and assigns, and every successor -in -interest to any portion of the Development Site, agrees and covenants that Developer and its successors and assigns shall not permit the use of any portion of the Development Site for any of the uses set forth on Exhibit D attached hereto and incorporated herein (collectively, the "Prohibited Uses"). In addition to the Prohibited Uses, the City's Fair Housing Marketing Policy shall apply, a copy of which is attached as Exhibit F. Without intending to restrict the provisions of this Section, it is intended and agreed that the City and its successors, shall be deemed beneficiaries of the agreements, covenants, and restrictions provided in this Section both for and in their own right and also for the purposes of protecting the interests of the community. Such agreements, covenants, and restrictions shall run in favor of the City and its successors for the entire period during which same remain in effect, without regard to whether the City and its successors have at any time been, remain, or are an owner of any portion of the Development Site or interest therein to or in favor of which such agreements, covenants, and restrictions relate, the City and its successors shall have the right, in the event of any breach of any such agreement, covenant, or restriction, to exercise all rights and remedies and to maintain any actions or suits at law or in equity or other proper proceedings to enforce such agreements, covenants, and restrictions and to enforce the curing of any breach thereof. 10