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Resolution 2013-38
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Resolution 2013-38
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Last modified
3/12/2021 3:11:34 PM
Creation date
7/17/2013 11:56:41 AM
Metadata
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Template:
City Council Records
Also Known As (aka)
Property Tax Increment Rebate Agreement Pursuant to LRC IGA
Doc Type
Resolution
Signed Date
7/16/2013
Ord/Res - Year
2013
Ord/Res - Number
38
Subdivision Name
Louisville North Filing 7
Original Hardcopy Storage
7D6
Record Series Code
45.160
Record Series Name
Resolutions
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RES 2013-38
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either Party may commence legal proceedings regarding the dispute. The venue for <br />any lawsuit concerning this Rebate Agreement shall be in the District Court for Boulder <br />County, Colorado. <br />7. Legal Challenge; Escrow. The LRC shall have no obligation to make any <br />payment hereunder during the pendency of any legal challenge to this Rebate <br />Agreement. The Parties covenant that neither will initiate any legal challenge to the <br />validity or enforceability of this Rebate Agreement, and the Parties will cooperate in <br />defending the validity or enforceability of this Rebate Agreement against any challenge <br />by any third Party. Any funds appropriated for payment under this Rebate Agreement <br />shall be escrowed in a separate LRC account in the event there is a legal challenge to <br />this Rebate Agreement. In the event performance of any material term of this Rebate <br />Agreement is rendered impossible as the result of any legal challenge, the LRC at its <br />option may terminate this Rebate Agreement, in which case the Parties' obligations <br />hereunder shall terminate; provided, however, that the LRC shall pay to Developer any <br />Pledged Revenues accrued and appropriated for payment under this Rebate <br />Agreement prior to such termination, to the extent permitted by law and any applicable <br />court order. <br />8. Assignment. This Rebate Agreement is personal to Developer and <br />Developer may not assign any of the obligations, benefits or provisions of the Rebate <br />Agreement in whole or in any part without the expressed written authorization of the <br />LRC. Any purported assignment, transfer, pledge, or encumbrance made without such <br />prior written authorization shall be void. <br />9. No Joint Venture. Nothing is this Rebate Agreement is intended or shall <br />be construed to create a joint venture between the LRC and Developer and the LRC <br />shall never be liable or responsible for any debt or obligation of Developer. <br />NEXT PAGE IS THE SIGNATURE PAGE <br />6 <br />
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