6810 - Laserfiche WebLink

Home Browse Search

King's Day Care Property and that it expects to acquire the King's Day Care Property by June 30, 2010. 3. Project Construction Schedule. Section 3.3.1 of the Redevelopment Agreement is hereby deleted in its entirety and the following inserted in its place: 3.3.1 Project Construction Schedule. The Developer shall commence and complete each of its obligations under this Agreement with respect to the Redevelopment Project in accordance with the following schedule, unless such date for performance of an activity is delayed by reason offorce majeure, as provided in Section 7.6: Activi RPA-1 Time for Performance RPA-2 Time for Performance Acquire all Property and close on June 30, 2010. 2 years from the date of the private financing ordinance approving the First Amendment to Redevelopment Agreement. Secure demolition permits and Within 90 days after Kings Day N/A commence demolition of existing Care has vacated its property buildings Commence construction (as Within 210 days after Kings Within 60 days after closing on evidenced by expenditure of at Day Care has vacated its private financing least $250,000 of hard property construction costs) Substantially complete Within 24 months following Within 24 months following construction (as evidenced by commencement of construction commencement of construction City's acceptance of Certificate of Substantial Completion) 4. Ratification and Approval. Except as amended hereby, the Redevelopment Agreement is and shall remain in full force and effect in accordance with the provisions thereof. 5. Counterparts. This First Amendment may be executed in multiple counterparts, each of which shall constitute one and the same instrument. 6. Conflicting Provisions. In the event of any inconsistency between the terms and provisions of the Redevelopment Agreement and this First Amendment, the terms and provisions of this First Amendment shall prevail. [Remainder of page intentionally blank. Signature pages follow.] -2-