2000 028 Ordinance - Laserfiche WebLink

Home Browse Search

of such insurance shall be used to pay the costs of repairing, restoring, or rebuilding the loss or damage to the Property occasioning the payment of such proceeds; and (b) The Company shall commence the repair, restoration or rebuilding of the Property within four (4) months after any damage or destruction, and diligently pursue the same to completion. Section 3. Representations of Company. The Company hereby represents, warrants and covenants to the Village that it has full power and authority to perform its obligations under this Agreement; and that the signing, delivery and performance of this Agreement and all documents contemplated hereby have been duly and effectively approved and authorized by all necessary action. The Company agrees that this Agreement is binding upon it, and its successors and assigns, in accordance with its terms, and that this Agreement upon its signing is a legal, valid and binding obligation of the Company. Section 9. Successors. This Agreement shall be binding upon the Company and its successors and assigns. No provision of this Agreement is intended to or shall be merged by reason of any deed transferring title to the Property or any part of the Property to any successor in interest of the Company, and any such deed shall not be deemed to affect or impair the provisions and covenants. of this Agreement. Section 10. Remedies. Except as otherwise provided in this Agreement, in the event of breach of this Agreement or .any of its terms by the Company, the Company shall upon written notice from the Village, proceed promptly to remedy such breach. In case such remedial action is not taken or not diligently pursued within thirty (30) days of such written notice, the Village may institute such proceedings at law or in equity as may be necessary or desirable in its opinion to remedy such breach. -7-