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2024-021 Ordinance
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2024-021 Ordinance
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4/10/2024 12:32:46 PM
Creation date
4/10/2024 12:31:13 PM
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North Olmsted Legislation
Legislation Number
2024-021
Legislation Date
4/9/2024
Year
2024
Legislation Title
Star West Great Northern TIF
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Section 8. Amendment. This Agreement may be amended or modified by the parties <br />only in writing, signed by both parties to the Agreement. Any purported amendment made in <br />violation of this Section shall be void. <br />Section 9. Entire Agreement. This Agreement sets forth the entire agreement and <br />understanding between the parties as to the subject matter hereof and merges and supersedes all prior <br />discussions, agreements, and undertakings of every kind and nature between the parties with respect <br />to the subject matter of this Agreement. The parties hereto acknowledge and agree that this <br />Agreement is the product of an extensive and thorough, arm's length negotiation and that each party <br />has been given the opportunity to independently review the Agreement with legal counsel, and that <br />each party has the requisite experience and sophistication to negotiate, understand, interpret and agree <br />to the particular language of the provisions of this Agreement. Accordingly, in the event of an <br />ambiguity in or dispute regarding the interpretation of this Agreement, this Agreement may not be <br />interpreted or construed against the party preparing it, and instead other rules of interpretation and <br />construction must be utilized. <br />Section 10. Notices. All payments and notices under this Agreement must be hand - <br />delivered (with receipt acknowledged) or sent by the first class U.S. mail, postage prepaid, and are <br />deemed delivered when so delivered or mailed to the respective addresses first set forth above. Either <br />party may change its address for receiving payments or notices by giving written notice of such <br />change to the other party. <br />Section ll. Severability of Provisions. The invalidity of any provision of this Agreement <br />does not affect the other provisions of this Agreement, and this Agreement is to be construed in all <br />respects as if any invalid portions were omitted. <br />Section 12. Liability Limitations: No Debt. No member, official, or employee of the <br />City or any of the City's boards or commissions shall be personally liable to Company or any <br />successor in interest, in the event of any default or breach by the City or for any amount which <br />may become due to Company or successor or on any obligation under the terms of this Agreement. <br />The City's obligations under this Agreement do not constitute debt of the City within the meaning <br />of the Ohio Constitution, and the Company and any of its successors or assigns have no right to <br />have taxes levied by the City or a claim on the City's general fund to satisfy any claims against <br />the City under this Agreement. Any claims against or liabilities on the part of the City under this <br />Agreement shall be satisfied solely from Net TIF Revenues. In no case shall the City be liable for <br />any consequential, indirect or punitive damages, or lost profits. <br />Section 13. No Partnership. This Agreement does not and may not be construed to <br />create a partnership orjoint venture betwcen the City and Company. <br />Section 14. Governing Law. This Agreement shall be governed by the laws of the State <br />of Ohio. <br />Section 15. Counterparts. This Agreement may be executed in two or more <br />counterparts, each of which shall be deemed to be an original, but all of which together shall <br />constitute one and the same Agreement. Counterparts executed or transmitted by facsimile or <br />-4- <br />
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