Resolution 1996-39 - Laserfiche WebLink

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successors, and assigns hereof, and shall constitute covenants running with the land. This Agreement shall be recorded with the County Clerk of Boulder County, Colorado, at the City's expense. Venue for any action related to this Agreement shall be in the District Court in Boulder County, Colorado. 18. Legislative Discretion. The parties acknowledge that the annexation, zoning, and subdivision of the Property are subject to the legislative discretion of the City Council of the City of Louisville. No guarantee of annexation, zoning, or subdivision has been made by the City. In the event that, in the exercise of its legislative discretion, any action with respect to the Property herein contemplated is not taken by the City, then the sole and exclusive remedy for the breach hereof shall be the withdrawal of the petition for annexation of the Property by the School District, or disconnection of the Property from the City in accordance with state law, as may be appropriate. 19. Term. a. The term of this Agreement as it relates to the Development Parcels shall be twenty (20) years from date of final approval by the parties in interest as indicated by the date of this Agreement. The Agreement shall be automatically renewed thereafter on an annual basis except that either party may terminate the Agreement as to the Development Parcels by providing written notice of termination at least ninety (90) days prior to the end of any renewal term. After termination, the uses of the Development Parcels shall continue to be consistent with Exhibit D until changed in the manner which fully complies with City processes at the time an application to change is made. b. The provisions of this Agreement relating to the School Campus Parcel shall continue in effect until modified by the agreement of the parties. 20. Annual Appropriation. Any financial obligation of a party'pursuant to this Agreement shall be subject to annual appropriation by the governing body of the party. It is the intent of the parties that this Agreement shall not create a multiple -fiscal year financial obligation pursuant to the Colorado Constitution, Article X, Section 20 (TABOR) for any party. June 27, 1996 BVSD\GEN\BVSD2.RAE 6