2013 001 Ordinance - Laserfiche WebLink

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c. Approvals of the Village. Any provision of this Development Agreement requiring the approval of the Village, the satisfaction or evidence of satisfaction from the Village, certificate or certification by the Village or the opinion of the Village, shall be interpreted as requiring action by the Mayor (or such other applicable official or Village Board or Commissioner as the Mayor may from time to time appoint or designate or as required by the Village Charter and codified ordinances) granting, authorizing or expressing such approval, satisfaction, certification or opinion, as the case may be, unless such provision or the administrative procedures applicable to the Village expressly provide otherwise. d. Estoppel Certificate. Each party agrees that within twenty (20) days after receipt of written request from the other party, it will issue to such party, or its prospective mortgagee or successor, an estoppel certificate stating to the best of such party's knowledge that as of such .date: i) whether it knows of any default under this Development Agreement by the requesting party, and if there are any known defaults, specifying the nature thereof; ii) whether this Development Agreement has been assigned, modified or amended in any way by it and if so, then stating the nature thereof; iii) whether this Development Agreement is in full force and effect; and iv) any other reasonable matters relating to this Development Agreement. e. Termination of Agreement. Upon completion of the Improvements and Development and acceptance thereof by the Village and all other obligations of East Commons hereunder or in the event of termination of this Development Agreement in connection with paragraph 5 (a) above, the parties agree to execute, in recordable form if requested by either party, a statement confirming that all of the terms, conditions and deed restrictions of this Development Agreement have been satisfied and the Agreement terminated. In the event, at any time, it is determined that the Improvements and/or Development have not been completed in accordance with the terms, conditions and deed restrictions of this Agreement, the Village must notify East Commons in writing of the specific default ("Default Notice"). Upon receiving the Default Notice from the Village, East Commons will have thirty (30) business days to cure the identified default(s) to this Agreement. If East Commons fails to work in good faith to correct the default(s) in accordance with the terms, conditions and deed restrictions of this Agreement then this Agreement maybe terminated by the Village and any approvals made as a condition to or hereof shall automatically terminate. It is also explicitly understood and agreed that in the event the Rezoned Property is NOT approved by the Probate Court, this Agreement shall automatically.terminate and any approvals made as a condition to or hereof shall also automatically terminate. f. Severability. If anyone or more of the provisions contained herein shall for any reason be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality 7