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Area to determine whether the rehabilitation plans submitted for <br /> the properties comply with the Redevelopment Plan; and <br /> <br /> WHEREAS, the Authority has heretofore approved the <br /> Developer's plans for the redevelopment, rehabilitation and <br /> improvement of the Property, as referred to in a resolution of <br /> the Authority adopted on the 28th day of June, 1995, which plans <br /> and specifications are hereby incorporated herein by reference <br /> (the "Plans and Specifications"); and <br /> <br /> WHEREAS, the Authority recommended to the City Council and <br /> the City Council approved the Plans and Specifications and the <br /> Developer's request for tax abatement of the Property. <br /> <br /> NOW, THEREFORE, in consideration of the premises and the <br /> covenants, agreements and stipulations herein contained, and to <br /> be kept, observed, executed and performed by the parties hereto, <br /> it is hereby agreed by the UCRC and the Developer, for themselves <br /> and on behalf of their successors, grantees and assigns as <br /> follows: <br /> <br /> 1. Adherence to the Redevelopment Plan and the Plans and <br />Specifications. Developer agrees that it will redevelop, <br />rehabilitate and improve the Property in accordance with the <br />Redevelopment Plan and the Plans and Specifications, and <br />Developer further agrees that it will use and maintain the <br />P~operty in accordance with the Redevelopment Plan and all <br />applicable ordinances of the City of University city, Missouri. <br /> <br /> 2. Term of Aqreement. The term of this Agreement shall be <br />fifteen (15) years commencing on the date hereof. <br />STL-34~ <br /> <br /> <br />