2005 048 Ordinance - Laserfiche WebLink

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any acts or circumstances that may constitute failure of c,onsideration, destruction of or damage to Mayfran Project, commercial frustration of purpose, any change in the tax or other laws or administrative rulings of or administration actions by or under authority of the United States of America or of the State, or any failure by the Village to perform or observe any obligation, or covenant, whether express or implied, arising out of or connection with this Agreement. Mayfran hereby agrees that in the event of a failure by Mayfran for anson to make any Service . Payment when due, which failure shall occur and continue for a period If thrWndred sixty (360) days, the Village, at its option shall have the right to terminated. The Village shall accomplish such written request for such tertnination to the Cuyahoga together with the Village's certification ? of delinquency, together with a co' termination of the tax examntion shall be default in making service the real property tax'Wption to be the tax exemption by submitting its xdit d_t]&State Tax Commissioner, 11?qnt"7ervice payrnents and the period A copy of such Village request for If MayFran has not fully cured the days from receipt of such Village request for termination<hi Mayfran agre that t ountyTuditor and State Tax Commissioner and the Village shall te aid rea ex mption, retroactively to the tax exemption year for which Mayfrmaketh ervice payments. Mayfran also agrees to be obligated for and agrees to pay any inte d2&y that would be due and owing with respect to the real property tax payments due and retroactively terminated. for such tax exemption year or years to which the tax exemption has been Mayfran further agrees for itself and its successors and assigns to prepare and file in cooperation with the Village all necessary applications and supporting documents to obtain the Draft of T.I.F. Agreement between Mayfield Village and MF Real Estate Partners, LLC Page 4 of 18 As of 11/18/05 4:19 PM