Resolution 2011-42 - Laserfiche WebLink

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prior to payment to Rocky Mountain Natural Labs. ofanv rebate pursuant to this Agreement. l uttrt, {,_cress Elie rebates pro\ iclt,d for under this Agreencn' are solely for the initial construction on the project, \n■ subsequent construction activities shall he subject to payment without reh;ate of all applicable- budding permit fees and construction use taxes. 7. Lutire '\crcelllent. This instrumeni ,hull constitute the entire agreement het∎veen the (t■ and Rocky \fountain Natural i.iab.s, l:I C, and supersedes 1.n\` prior agreements her\\cen the parties and their agents or representatives. :ill of` \\hleh are tnerge(i into and reVoked hV' this Agrcc'rnent \vith respect to its subject hatter. S. 'Telminalion. fhis Agreement shall terminate anal become vmid and ni no force or effect upon the Cit■ I1 I' e1 y ylountain Natural t.ah t.l..(. has not completed the project and moved into its ne\\ facility at 833 West Boutin Boulder Road by Uceember 31, 2011: or should Rocky .Mountain "natural Labs, 1 1_(1 fail to comply vv itlr <uty city code, ca Business termination, In the event Rocky 1iountain Natural Labs, .eases business' operations \tit }till the t4 \vithin live (5) years after the Ile\ operations commence. then in such ev ent Rocky Mountain Natural Lab;. 1 [C. shall pay to the City- the total amount of fees and use taxes which were due and payable by Rocky \lot,mtain Natural labs, L.I.C, to the City but were rebated by the City, as tv-ell as reimburse the City for any funds provided to Rocky Mountain Natural labs. lnl_.C. pursuant to this Agreement. 10. Subordination, The City's obligations pursuant to this \nrccntent are subordinite to the C`it\'s obligations for the rcpay'lent of any current or future bonded indebtedness and are contingent upon the existence of a surplus in sales and use tax re%enucs in excess of the sales and use tax revenues necessary to meet such existing or future bond indebtedness, "lite City shall meet its iohligations under this Agreement only alter the Cit\ has satisfied all other obligations with respect to rite: use of sales tax revenues for bond repav►ncnt purposes. For the purposes of this Agreement. the terns "bonded indebtedness." "bond,," and similar terms describing the possible forms of indebtedness include all forms of indebtedness that n►a\ be incurred h\ the (it\ including. but not limited to, general obligation bonds, revenue bonds, revenue anticipation note;. tax increine notes, tax increment bonds, and all other Corms of contractual inlehtcdness r, \whatsoever nature that is in any way secured or collateralized by sales and use tax revenues of the City, 11. Annual =Apprgpriation. Nothing in this ,Agreement shall he deemed or construed as creating a multiple fiscal year obligation on the pail of the City yt ithin the ►neanin of Colorado Constitution Article K. Section 21) or atn■ other constitutional or statutory pro ision, and the C'it\'s obligations hereunder are expressly conditional upon annual appropriation by the ('itv Council, in its sole discretion. Rocky Mountain Natural labs. _.[C. understands and agrees that any decision of ('itv (ounci1 to nOt appropriate funds tear payment shall he vv ithout penalty or recourse to the City and, further, shall not affect, impair. or invalidate any of the remaining terms or provisions of this Agreetntent,