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5781
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1990
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5781
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Last modified
12/6/2004 2:48:05 PM
Creation date
11/5/2014 12:19:24 PM
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City Ordinances
Passed
12/10/1990
Ordinance Number
5781
Bill Number
7991
Introdate
11/19/1990
Description
Adopting TIF funding for financing improvements within Olive Boulevard central tax increment finance district, approving the financing, providing for a subaccount to finance improvements in Westover,
Introduced By
Schoomer
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which affect his personal interests or the interests of any <br />corporation or partnership in which he is directly or indirectly <br />interested. Any person having such interest shall immediately, <br />upon knowledge of such possible conflict, disclose, in writing, <br />to the City Council. the nature of such interest and seek a <br />determination with respect to such interest by the City Council <br />and, in the meantime, shall not participate in any actions or <br />discussions relating to the activities herein proscribed. <br /> <br /> Section 22. Representatives not Personally Liable. No <br />member, official or employee of the City or the Commission shall <br />be personally liable to the other parties in the event of any <br />default or breach by the City or the COmmission, as the case may <br />be, under this Agreement, or for any amount which may become due <br />to the other party or on any obligations under the terms of this <br />Agreement. <br /> <br /> Section 23. Indemnification. Developer agrees to d~fend, <br />indemnify and hold the Commission and the City harmless from any <br />and all claims, litigation, or action of any sort, including, <br />without limitation, governmental or administrative proceedings, <br />made by any person or entity relating to or resulting from <br />(a) the Developer's, the Commission's and/or the City's <br />performance of this Agreement, or (b) the Developer's failure to <br />perform its obligations hereunder, or (c).any condition act or <br />occurrence on the Property and/or the Acquired Property, or <br />(d) any representation or warranty made herein not being true in <br />any material respect when made, or (e) any condition (including <br />any environmental condition) of the Property and/or the Acquired <br />Property. This indemnification shall include, without <br />limitation, any and all legal fees and expenses, and experts fees <br />and expenses whether or not litigation is commenced. This <br />indemnification obligation shall also include, without limiting <br />the generality of the foregoing, the defense of any claim, suit, <br />action, proceeding or investigation made by any third party or <br />any governmental agency relating to any Environmental Law. <br /> <br /> Section 24. Reac~uisition. Developer hereby agrees that <br />within three months after repayment in full of the Note or, if <br />earlier, the expiration of such Note, if the Commission so <br />requests, Developer will reacquire the Acquired Property from the <br />Commission at an amount not less than such Acquired Property's <br />fair market value, subject to the Commission's obtaining any <br />required public approvals for such sale by the Commission. <br /> <br />STL-6313 <br /> <br />-- 14 -- <br /> <br /> <br />
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