1992 035 Resolution - Laserfiche WebLink

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4. The Village agrees that, if sewers are constructed along S.O.M. Center Road in front of the golf course property and if any of the cost of said sewers are assessed against abutting property owners, the LaContes will not be immediately assessed the total assessable amount, but only an amount equal to two '(2) comparable single-family uses within one half (1/2) mile of the subject property. The balance of the total assessment will be financed by the Village within the Village portion of the project costs. The Village will be reimbursed by the LaContes for the difference between the initial assessment and the total assessment, plus interest, pursuant to a Restricted Main Agreement to be entered into at the time assessable amounts are finalized, the terms of which will require total payment plus interest to the Village (either in lump sum or spread out over the life of the bonds, notes or other means of f inancing used for other aspects of the proj ect' s costs) upon the occurrence of any one of the following events: 1. Permit application for development of the property for any use other than a golf course use; or 2'. Execution of a sale any portion thereof lage of Mayfield; or agreement of the property or to anyone other than the Vil- 3. Termination of this Agreement. Plaintiffs retain their right to examine any proposed assessment and appeal to the assessment equalization Board of the Village in a manner equal to any other property owner. 5. During the term of this agreement nor for five (5) years after its expiration, the Village agrees that the Village shall not attempt and shall not purchase or acquire the Property through eminent domain proceedings. The Village further agrees that it shall not modify, remove or revoke the special use permit regarding the Property. The Village acknowledges that the items set forth in this Agreement constitute substantial consideration which have induced the individual Defendants to enter into this Settlement Agreement, and attached option and agreement of sale. By reciting these items in this paragraph, this Council intends the provisions of this paragraph to be part of the contract and specifically binding upon future Councils of the Village. 6. The Village will repeal Ordinance 91-35 as soon as practicable, and any resolutions of Council to appropriate the Property by eminent domain proceeding. The Village acknowledges that upon filing of an Agreed Journal Entry with the Court in the Federal litigation, Ordinance 91-35 and any resolutions of Council to appropriate the Property by eminent domain proceedings shall be deemed void. 7. This Agreement shall be construed under and in accordance with the internal laws of the State of Ohio. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective heirs, executors, administrators, legal represen- -3-