2013 001 Ordinance - Laserfiche WebLink

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WITNESSETH: For and in consideration of the covenants herein contained, and upon the terms and conditions herein set forth, the Village and East Commons hereby agree as follows: 1. Construction of the Improvements. Construction of the Improvements,hereinafter referred to as, (the "Improvements") shall mean and include the private road, curbs, sidewalk, fire hydrants, street lighting, storm and sanitary sewers, gas, electrical and water utilities and mains; storm water detention areas; wetland work pursuant to the OEPA and Army Corps of Engineer permits and common area landscaping. Improvements shall not mean the buildings and their respective parking and landscaping areas. Construction of the Improvements are depicted on the Preliminary Development Plan SD-1, SD-2, and L-1 dated November 1, 2012 prepared by Cawrse & Associates and the Elevation dated October 24, 2012, all attached hereto as Exhibit "C" and approved by the Village's Planning Commission on December 3, 2012, the ("Preliminary Plan"). 2. Timing of the Improvements and Development. East Commons shall commence work upon Building 1 of the Development and the necessary Improvements to support Building 1 no later than twelve (12) months after the Permit Contingency and Rezoning Contingency have been fully satisfied, subject to appropriate weather conditions, and shall thereafter use its best efforts to diligently pursue completion of Building 1 and the necessary Improvements to support Building 1. It is anticipated that the Development will be constructed in 2 phases, each having multiple buildings. The Improvements necessary to support Buildings 1 and 2 in Phase I will be mutually determined by the Village and East Commons prior to East Commons commencing construction of the Development. Upon the completion of Building 1 in Phase 1, and each subsequent building thereafter, East Commons, will use its commercially reasonable best efforts to begin work on any building in the next Phase of the Development. East Commons agrees to provide the Village a written annual report detailing the status of the Improvements and the Development showing compliance with the terms that have been outlined herein. The first annual report shall be due 1 year from the effective date of this Agreement and each subsequent report due 1 year thereafter. In the event that East Commons is unable at any time to meet the Timing of the Improvements and Development set forth above, the parties shall meet to discuss an agreed upon extension to the Timing of the Improvements and/or Development. In the event East Commons is not in compliance with any other term, condition and/ or deed restriction, this Agreement shall automatically terminate in accordance with the provisions set forth in Paragraph 5(e). 3. Restoration. Upon completion any or all of the Improvements and/or Development, East Commons shall repair and restore, to at least the same or similar condition as existed prior to the Improvements and/or Development, any damage caused to any Village property as a result of such Improvements and/or Development being constructed and installed. 2