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6088
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6088
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Last modified
12/6/2004 2:47:24 PM
Creation date
11/5/2014 12:21:22 PM
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City Ordinances
Passed
12/16/1996
Ordinance Number
6088
Bill Number
8306
Introdate
11/18/1996
Description
Approving redevelopment agreement & issuance of T.I.F. (Scnucks)
Introduced By
Munkel
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canceled. <br /> <br /> 7.3 Assignment. Developer may not assign its rights, <br />duties and obligations under this Agreement without the prior <br />written consent of the City, which the City may exercise in its <br />sole discretion; provided that Developer may without obtaining <br />such prior City consent assign its rights, duties, and <br />obligations under this Agreement to an affiliate or entity wholly <br />owned or controlled by Developer. <br /> <br /> 7.4 Remedies. Except as otherwise provided in this <br />Agreement and subject to Developer's right of termination, in the <br />event of any default in or breach'of any term or conditions of <br />this Agreement by either party, or any successor, the defaulting <br />or breaching party (or successor) shall, upon written notice from <br />the other party, proceed immediately to cure or remedy such <br />default or breach, and, shall, in any event, within thirty (30) <br />days after receipt of notice, commence to cure or remedy such <br />default. In case such cure or remedy is not taken or not <br />diligently pursued, or the default or breach shall not be cured <br />or remedied within a reasonable time, the aggrieved party may <br />institute such proceedings as may be necessary or desirable in <br />its opinion to cure and remedy such default or breach, including, <br />but not limited to proceedings to compel specific performance by <br />the defaulting or breaching party. <br /> <br /> 7.5 Force Majeure. Neither the City nor Developer nor any <br />successor in interest shall be considered in breach or default of <br />their respective obligations under this Agreement, and times for <br />performance of obligations hereunder shall be extended, in the <br />event of any delay caused for force majeure, including, without <br />limitation, damage or destruction by fire or other casualty; <br />condemnation; strike; lockout; civil disorder; war; restrictive <br />government regulations; issuance of any permits and/or legal <br />authorization by any governmental entity (other than the City) <br />necessary for Developer to proceed with construction of the Work <br />or any portion thereof; shortage or delay in shipment of material <br />or fuel; acts of God; unusually adverse weather or wet soil <br />conditions; or other causes beyond the parties' reasonable <br />control, including but not limited to, any court order or <br />judgment resulting from any litigation affecting the validity of <br />the Redevelopment Plan, the Redevelopment Project, or the TIF <br />Notes. <br /> <br /> 7.6 Notices. Any notice, demand, or other communication <br />required by this Agreement to be given by either party hereto to <br />the other shall be in writing and shall be sufficiently given or <br />delivered if dispatched by certified United States First Class <br />Mail, postage prepaid, or delivered personally, <br /> <br />- 13- <br /> <br />STL-535046 <br /> <br /> <br />
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