2026-014 Ordinance - Laserfiche WebLink

Home Browse Search

ARTICLE VIII ASSIGNMENT OR TRANSFER Section 8.1 Assignment by Developer. Notwithstanding the foregoing, Developer may assign this Agreement to any of the following without the consent of the City: (a) any lender providing construction, permanent, or mezzanine financing relating to the development of any portion of the Development Site; and (b) an Affiliate of any Developer. Developer shall provide written notice to the City of any such assignment. Section 8.2 Transfers of Development Site. Developer shall have the right to sell, assign, convey, transfer, pledge, mortgage, encumber or ground lease all or any portion of the Development Site owned by Developer (the "Transfer"), without the prior consent or approval of the City. In connection with any such Transfer, Developer shall have the right to assign rights to any payments under Section 5.6 above to a transferee of such Transfer ARTICLE IX MISCELLANEOUS Section 9.1 Notices. Any notice or communication between the parties required or permitted to be given under this Agreement shall be deemed sufficiently given if delivered personally, if mailed by U.S. registered or certified mail or if by Federal Express or other overnight courier service, and addressed as follows: If to the City: If to the Developer: Any notices and other communications to be delivered by either party to the other pursuant to this Agreement shall be in writing and shall be deemed delivered as follows, except as otherwise specifically provided in this Agreement: (a) when hand delivered; (b) one (1) Business Day after mailing by Federal Express or other overnight courier service; or (c) three (3) Business Days after deposit in the United States mail by registered or certified mail, postage prepaid, return receipt requested, addressed to the party to be charged with notice at the above -recited address or such other address as either party from time to time may designate by notice delivered to the other; provided, however, that no notice of change of address shall be deemed given until received by the party to be notified. Notwithstanding anything contained herein to the contrary, a notice given by either party's attorney shall be deemed to be properly delivered by a party under the provisions of this Section 9.1. Section 9.2 Term. Unless earlier terminated in accordance with the terms of this Agreement, this Agreement shall terminate upon the expiration of the Exemption Period. Notwithstanding the termination of this Agreement upon the expiration of the Exemption Period, any Service Payments received by the City shall continue to be applied in accordance with the terms of Section 5.6 of this Agreement. Section 9.3 Entire Agreement. This Agreement and the exhibits referred to herein, all of which are attached hereto and made a part hereof, embody and constitute the entire -11- 19575939-4