Resolution 2015-77 - Laserfiche WebLink

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rehabilitation of historic structure in accordance with the Department Standards, and the City Manager shall have the right to approve or disapprove the contractors proposed for the work based on the City Manager's review of such qualifications. The Purchaser shall complete the stabilization Scope of Work and receive written City approval thereof by December 31, 2015. In the event Purchaser does not complete the stabilization Scope of Work and receive written City approval thereof by December 31, 2015, Seller shall have the right to require Purchaser re- convey to Seller by special warranty deed title to Lot 2, together with rights of access over Outlot A and the right to not less than six parking spaces within Outlot A. The City's rights under this Section may, at the City's option, be set forth in the special warranty deed conveying Lot 2 to Purchaser. Such remedies are in addition to the provisions of this Agreement providing that title to Lot 3 shall not be transferred to Purchaser until Purchaser has completed the stabilization Scope of Work and received written City approval thereof. In the event Purchaser cannot complete the stabilization Scope of Work by December 31, 2015 solely due to acts of God or other circumstances constituting force majeure beyond the control of Purchaser, then such completion deadline shall be extended by that number of days that is equal to the number of days of the existence of such acts of God or other circumstance constituting force majeure. 3. Section 9.21 is hereby replaced with the following language: 9.21 Building Permit Fee Rebates. The City shall rebate to Purchaser 50% of the planning and building related permit and application fees for any rehabilitation, modification or new construction project on the Land that commences prior to 676 days from Closing, required under Louisville Municipal Code, section 15.04.050 and section 108.2 of the International Building Code as adopted by the City. 4. Section 9.22 is hereby replaced with the following language: 9.22 Use Tax Rebate - Construction. The City shall rebate to Purchaser 50% of the Construction Use Tax on the building materials for any rehabilitation, modification or new construction project on the Land or South Parcel that receives approval and commences after the Effective Date and prior to 676 days from closing, required under Louisville Municipal Code, section 3.20.300, excluding all revenues from the open space tax and historic preservation tax. 5. Section 9.23 is hereby replaced with the following language: 9.23 Plan Review Fee Rebates. The City shall rebate to Purchaser 50% of the application and plan review fees for any Planned Unit Development, Subdivision Plat, Floodplain Development Permit, Landmark Designation or Alteration Certificates, rehabilitation, modification or new construction project on the Land or South Parcel that receives approval and commences after the Effective Date and prior to 676 days from closing. 6. Effect of this Amendment. As amended by the terms hereof, the Agreement is in full force and effect and is hereby ratified by the parties, with both parties acknowledging that no defaults exist under the Agreement by the other party.