2007-09-04 Agenda - Laserfiche WebLink

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21. Relocation Benefits. Developer shall provide the relocation benefits in accordance with 523.206, R.S.Mo. 2000, to any person in the Redevelopment Area who is or shall be an eligible displaced person within the meaning of § 523.205, R.S.Mo, 2000, as it may be amended from time to time, in accordance with the Development Plan and in accordance with the requirements of § 523.205, R.S.Mo. 2000. J-3-aa 22. Modifications. The terms, conditions and provisions of this Agreement of the Development Plan can be neither substantially modified nor eliminated except by mutual agreement in writing between the City and Developer; provided, however, that this Agreement shall not be construed as an enlargement of the authority conferred upon the City by Chapter 353 of the Revised Statutes of Missouri, 2000, as amended. 23. Term of Use Limitation. Developer, for and on behalf of itself and its successors and assigns, covenants that the uses in the Redevelopment Area shall be limited to the uses described in the Development Plan for a period of ten (10)years from the effective date of the ordinance approving the Development Plan and of which this Agreement is a part. 24. Term of Agreement. This agreement shall remain in full force and effect for ten (10) tax years after Developer’s acquisition of the property with the Redevelopment Area, whereupon this Agreement shall terminate and become null and void, provided that all development as herein described has been completed and so certified by the City Council. The right and privileges given to Developer by this Agreement and the duties and obligations imposed on Developer shall apply only to the development project described in the Development Plan. Notwithstanding anything herein to the contrary, any liability of either party hereto to the other accruing prior to the termination of this Agreement and remaining unsatisfied at the time of such termination, shall continue and remain actionable beyond such date of termination subject to applicable statutes of limitations. 25. Invalidation or Cancellation of Agreement by Developer. In the event that Developer shall be prohibited from performing the covenants and agreements herein contained, or contained in the Development Plan by the order of any governmental agency or other authority of competent jurisdiction, or Court, or in the event that Chapter 353 of the Revised Statutes of Missouri, 2000, or the ordinance of which this Agreement is a part, shall be declared invalid in whole or in part, or shall be amended in whole or in part, and Developer determines, in its sole discretion, that the acquisition or redevelopment costs of the Redevelopment Area will render the Redevelopment Plan economically infeasible, then and in any such event, Developer may cancel or terminate this Agreement by giving written notice of its intention to do so to the City within the sixty (60) day period after the event giving rise to such right. September 4, 2007