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

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DocuSign Envelope ID: 92860B03-367C-49AA-BA95-OFDE6BFCF177 of the Development Site, with the intent that same shall be construed as covenants binding on the Parties and their successors -in -interest, and benefitting and running with the land, enforceable by the Parties hereto in accordance with the terms hereof. NOW, THEREFORE, in consideration of the premises and the mutual covenants and promises herein contained, the sufficiency of which are acknowledged by the Parties hereto, the City and the Developer hereby agree as follows: I. INCORPORATION OF RECITALS; INTERPRETATION A. The recitals and "Whereas" clauses set forth above are fully incorporated in this Agreement and specifically made a part hereof, as if fully restated here. B. Any reference herein to the City or the City Council, or to any officer thereof, includes entities or officials succeeding to their respective functions, duties or responsibilities pursuant to or by operation of law or lawfully performing their functions. C. Any reference to a section or provision of the Constitution of the State, or to a section, provision or chapter of the Ohio Revised Code, or to any statute of the United States of America, includes that section, provision or chapter as amended, modified, revised, supplemented or superseded from time to time; provided, that no amendment, modification, revision, supplement or superseding section, provision or chapter shall be applicable solely by reason of this paragraph, if it constitutes in any way an impairment of the rights or obligations of the City, the Developer, or any other party under this Agreement or any other instrument or document entered into in connection with any of the foregoing. D. Unless the context indicates otherwise, words importing the singular number include the plural number, and vice versa. The terms "hereof," "hereby," "herein," "hereto," "hereunder," "hereinafter" and similar terms refer to this Agreement; and the term "hereafter" means after, and the term "heretofore" means before, the date of this Agreement. Words of any gender include the correlative words of the other genders, unless the sense -indicates otherwise. II. DEVELOPER COVENANTS AND REPRESENTATIONS A. The Developer shall develop the Project in accordance with the plan and schedule set forth in the plan attached hereto as Exhibit C (the "Development Plan"), the material modification of which may be approved by the City consistent with and in compliance with the current rules and regulations of the City. Buildings constructed on the Development Site shall be of the general design as shown in the Development Plan. B. The Developer agrees that the Project will be constructed in a manner which is consistent with generally accepted construction industry standards and guidelines applicable to similar projects and in conformity with installation guidelines as may be recommended by various manufacturers of the building materials. If any portion of the C