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5455
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1984
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5455
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Last modified
12/30/2011 11:23:18 AM
Creation date
11/5/2014 12:17:17 PM
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City Ordinances
Passed
11/12/1984
Ordinance Number
5455
Bill Number
7659
Description
Approval of Renaissance I Redevelopment Corp to development Trinity Delmar Redevelopment area which was blighted.
Introduced By
Councilmember Adams
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I <br /> s <br /> . S <br /> Y <br /> e <br /> z <br /> 1 <br /> enable it to be recorded in the Office of the Recorder of Deeds <br /> of the County, and the Redeveloper, without cost or expense to <br /> the Authority, may so record such certification. <br /> Section 11 . Non-performance Due to Causes Beyond <br /> Control of Parties. In the event performance of any of the <br /> respective covenants or obligations under this Agreement by the E <br /> Authority or the Redeveloper is prevented, interrupted or <br /> delayed by causes beyond its control, including but not <br /> restricted to strike, riot, storm, flood, acts of God or of the <br /> public enemy, acts of government, acts of the other party, <br /> fires, epidemics, quarantine, restrictions, freight embargoes <br /> and unusually severe weather , or delays of subcontractors due <br /> to such causes, and not caused by any act or failure of the t <br /> party delayed in performance as the case may be, the date or <br /> time or times for the performance of such covenant or obli- <br /> gation by the Authority or the Redeveloper shall be extended f` <br /> for a period of time equal to the number of days the per- <br /> formance of such covenant or obligation by the Authority or the <br /> Redeveloper is so prevented, interrupted or delayed and, in <br /> such case, neither the Authority nor the Redeveloper shall be <br /> liable for any cost, losses, damages, injuries for liabilities <br /> caused to or suffered or incurred by the Authority or the <br /> Redeveloper or any other legal entity in connection with, or as <br /> the result of, any such delay in or non-performance of, such <br /> covenant or obligation. In the event that the Authority or the <br /> Redeveloper intends to avail itself of the provisions of this f <br /> Section, the Authority or the Redeveloper shall give written <br /> notice of such intent to the other ; such notice to be given <br /> within fifteen ( 15 ) days from the date performance of such <br /> covenant or obligation was so prevented, interrupted or delayed. <br /> Section 12. Termination. <br /> (a) In the event : <br /> ( i ) At any time the Redeveloper shall have been <br /> unable, after diligent effort to obtain bond financing, or <br /> mortgage financing commitments and equity commitments within <br /> time for the construction, improvement and redevelopment of the <br /> Project Area on a basis and on terms satisfactory to the <br /> Redeveloper for the improvements of the nature and type pro- <br /> vided in the Plan and this Agreement and shall notify the <br /> Authority thereof in writing; or <br /> ( ii ) There shall have been a default in or breach <br /> of this Agreement or any of its terms or conditions by the w <br /> Authority and such default or breach has not been cured after <br /> notice is given as provided herein; or <br /> k <br /> -5- <br />
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