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Reso 2011-1749
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Reso 2011-1749
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Last modified
8/19/2013 2:24:28 PM
Creation date
7/22/2011 3:25:33 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2011-1749
Date (mm/dd/yyyy)
07/21/2011
Description
Approving a Ground Lease and Dev. Agreement w/4M Investors, LLC
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<br />APPLICANT AND ANY MEMBER OF THE PUBLIC. NOTHING CONTAINED IN THIS <br />LEASE SHALL ENTITLE THE TENANT TO COMPEL THE CITY TO TAKE ANY SUCH <br />ACTIONS, SA VE AND EXCEPT THE CONSENTS TO THE FILING OF SUCH <br />APPLICATIONS FOR LAND USE APPROVALS, REZONINGS, COMPREHENSIVE PLAN <br />AMENDMENTS OR OTHER REQUIRED APPROVALS, AS MORE FULLY SET FORTH <br />HEREIN, AND TO TIMELY PROCESS SUCH APPLICATIONS. <br /> <br />Section 6. Approval Period. The Tenant shall use its good faith and diligent efforts to obtain <br />the Final Approvals and otherwise timely obtain the Final Approvals. For the purpose of this <br />Lease, Final Approvals mean the approval of all site plans and permit applications filed with the <br />appropriate governmental agencies for the construction of Tenant's Improvements. The Tenant <br />shall obtain Final Approvals for Tenant's Improvements on or before one hundred eighty (180) <br />days after selection of Acceptable Vendor (the "Approval Period"). The Tenant shall have the <br />right to request the City to extend the Approval Period for an additional three (3) months to the <br />extent the Final Approvals have not been obtained. In the event the Final Approvals have not <br />been obtained on or before the expiration of the Approval Period (as the same may be extended <br />as provided above), or in the event prior thereto, any of the required Development Approvals <br />have been denied by the City (or, with respect to any Development Approval which is denied by <br />a governmental entity other than the City, not refiled or appealed within thirty (30) days after <br />such denial, to the extent such refiling or appeal is permitted by law; however, nothing set forth <br />herein shall obligate the Tenant to file any appeal), then Tenant may, at its sole option, (i) <br />terminate this Lease as hereinafter provided, or (ii) waive the condition precedent as hereinafter <br />provided. Notice of termination shall be given in writing to the Landlord no later than the <br />expiration of the applicable Approval Period (as the same may be extended). If Tenant <br />terminates this Lease prior to the expiration of the Approval Period, then this Lease shall <br />terminate as to all provisions except those specifically provided herein to survive termination and <br />all of the other provisions and obligations of the parties under this Lease shall fully terminate and <br />be null and void and Tenant shall immediately surrender possession of the Premises to Landlord. <br />If the Final Approvals are obtained prior to the delivery of a written notice of termination, then <br />there shall be no further right of termination hereunder. In the event all of the Development <br />Approvals have been timely obtained, but some or all of them are being challenged by third <br />parties or appeal periods have not expired so that they have not become Final Approvals at a <br />time when the Approval Period (as the same may have been extended) is expiring, the Landlord <br />and Tenant agree to consider the desirability and advisability of further extending the Approval <br />Period(s), provided that such consideration and the determination thereof shall be in the sole and <br />exclusive discretion of each of such respective parties, and must be separately agreed by the <br />Landlord and Tenant in order to be binding. <br /> <br />ARTICLE VI <br />Design and Construction of Improvements. <br /> <br />Section 1. Tenant' s ~onstruction Obligation. The Tenant hereby agrees to construct on the <br />Premises, at its sole cost and expense, the Tenant's Improvements in accordance with the Final <br />Approvals. <br /> <br />9 <br /> <br />...Y <br />
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