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03-2024 - Authorize Development Agreement with LDC Warren LTD, LLC
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03-2024 - Authorize Development Agreement with LDC Warren LTD, LLC
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4/4/2024 4:01:58 PM
Creation date
4/3/2024 3:36:36 PM
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Office Of Council
Document Type
Ordinance
Number
03-2024
Date Adopted
4/1/2024
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DocuSign Envelope ID: 92860B03-367C-49AA-BA95-OFDE6BFCF177 <br />(2) Notice to Developer: <br />LDC Warren LTD, LLC <br />Attn: Tom Kuluris / Dru Siley <br />28045 Ranney Parkway, Unit E <br />Westlake, OH 44145 <br />with a copy to: <br />Matthew J. McCracken, Esq. <br />Kaufman, Drozdowski & Grendell, LLC <br />29525 Chagrin Blvd., Ste. 250 <br />Pepper Pike, OH 44122 <br />Either Party may change its address for notice purposes by providing written notice of such <br />change to the other Party. <br />B. Entire Agreement/No Third -Party Beneficiary. This Agreement supersedes any <br />and all other agreements, either oral or in writing, between the Parties hereto with respect <br />to the Project and the Development Site to be completed in connection therewith, and <br />contains all of the covenants, agreements, and other terms and conditions between the <br />Parties hereto with respect to the same. No waivers, alterations or modifications of this <br />Agreement or any agreements in connection therewith shall be valid unless in writing and <br />duly executed by all Parties hereto. <br />Nothing contained in this Agreement shall be construed so as to confer upon any other <br />person the rights of a third -party beneficiary. <br />C . Amendment. <br />1. Recognizing the likelihood of changing conditions (such as demand and <br />supply factors; changes in tenants that are in (or likely to be in) the <br />northeastern Ohio regional market area; and other needs and concerns of the <br />City and the Developer), the Parties agree to review and consider <br />amendments to this Agreement, as necessary. Any amendments to this <br />Agreement shall be valid and enforceable only if in writing and executed by <br />the Parties. <br />2. The City and the Developer acknowledge and agree that in the event either <br />Party requests further amendment and/or modification of this Agreement, <br />the affected Parties shall thereafter engage in good -faith discussion and <br />negotiation, undertaking all efforts to resolve and address such issues as the <br />Parties may then raise in connection with this Agreement and such further <br />amendment and modification thereof. <br />22 <br />
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