2005 048 Ordinance - Laserfiche WebLink

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writing by the Director of Law of the Village. The Village will reimburse Mayfran for any costs associated with acquiring the title insurance policy. Section 6. Assignments. Prior to completion of Mayfran Project, Mayfran agrees not to assign this Agreement, or transfer the Property or any part thereof, without prior written notification to the Village. After completion of Mayfran Project and obtaining a Certificate of Occupancy therefor, Mayfran may transfer Mayfran Project and assign this AWent provided that the following conditions are met to the advance written satisfaction of the (a) That the Village be notified of any proposei transferee and assigneelVlayfran and that any such transferee shall have the qualifi?ons ancial responsibility, necessary and adequate to carry out Mayfran's obligation to . Se a nts'as provided in this Agreement, and necessary and ade t the ation and maintenance of Mayfran ' Project; and (b) The proposli trans??e and ' e strument in writing satisfactory to the Village and in form re3Wle inl,?uyafW County real estate records, shall for itself and its succe*sors and asans, an'%Wressly?or the benefit of the Village, have expressly assumed all" obligation • urer this Agreement Insurance; Damage or Destruction. that from and after the date of this Agreement and during the Exemption pe?Wd, it will, at its own cost and expense, provide and maintain on the Property, insurance against loss or damage by fire and those hazards ordinarily covered in all-risk property insurance policies in Mayfield Village, Ohio, in an amount not less than 100 percent (100%) of the replacement value of the Property. Such insurance shall be effected under standard form policies issued by insurers of recognized responsibility, authorized to do Draft of T.I.F. Agreement between Mayfield Village and MF Real Estate Partners, LLC , Page 7 of 18 As of 11/18/054:19 PM