2018 010 Ordinance - Laserfiche WebLink

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b. The Village may require the posting of a bond for the Development in an amount deternuned to cover damage to adjacent roadways or Village property. 5. Miscellaneous. a. Contingency. Notwithstanding anything contained herein to the contrary, ARTIS shall have no obligation to perform any of the obligations set forth herein unless and until it shall have obtained final plan approval, and issuance of building permits by the Village. If pernuts are not issued or ARTIS does not commence development within one (1) year of final approval, and issuance of permits, unless extended by the provisions of this Agreement, either party shall have the right to terminate this Development Agreement by providing written notice to the other and thereafter, this Development Agreement shall temunate as of the date of such notice. In addition, notwithstanding anything contained herein to the conirary, ARTIS may only use that part of Permanent Parcel Number 831-_ 05-015 approved for the "Use" variance or commercial purposes compatible with the underlying zoning, and after all requisite deed restrictions and requirements set forth herein have been complied with and appropriately recorded as necessary. b. Village Council. This Development Agreement and a11 terms and provisions hereof are subject to and conditioned upon the approval or ratification by duly enacted ordinance or resolution of Mayfield Village Council. 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; 3