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Resolution 2019-10
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Resolution 2019-10
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Last modified
5/30/2024 11:34:51 AM
Creation date
11/5/2019 12:40:34 PM
Metadata
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Template:
City Council Records
Doc Type
Resolution
Ord/Res - Year
2019
Ord/Res - Number
10
Property Address Number
712 & 722
Property Address Street Name
Main
Original Hardcopy Storage
9C5
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resolving such dispute. In the event such dispute is not fully resolved by mediation or <br />otherwise within 60 days a request for mediation by either Party, then either Party may <br />commence legal proceedings regarding the dispute. The venue for any lawsuit <br />concerning this Rebate Agreement shall be in the District Court for Boulder County, <br />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 Agreement <br />prior to such termination, to the extent permitted by law and any applicable 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 LRC, <br />which consent shall not be unreasonably withheld; provided, that an assignment shall be <br />permitted (i) to any entity who is an affiliate of the Developer provided such assignment <br />is of the Agreement in its entirety to a single entity; (ii) to a successor in title to 100% of <br />the Developer's ownership interest in the Project; and (iii) to a lender to the Developer <br />provided such assignment is limited to a collateral assignment or pledge of the amounts <br />payable to the Developer hereunder. Any purported assignment, transfer, pledge, or <br />encumbrance made without such prior written authorization shall be void. <br />9. No Joint Venture. Nothing is this Rebate Agreement is intended or shall be <br />construed to create a joint venture between the LRC and Developer and the LRC shall <br />never be liable or responsible for any debt or obligation of Developer. <br />NEXT PAGE IS THE SIGNATURE PAGE <br />This Rebate Agreement is executed this day of , 20_. <br />6 <br />
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