Resolution 2020-25 - Laserfiche WebLink

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If to LRC: Louisville Revitalization Commission Attn: Economic Vitality 749 Main Street Louisville, CO 80027 303.335.4531 mpierce@louisvilleco.gov If to City: City of Louisville Attn: City Manager 749 Main Street Louisville, CO 80027 Heatherb@Louisvilleco.gov 5. Termination. This Agreement shall terminate and become void and of no force or effect upon the LRC and City if, by December 31, 2020 Developer has not completed the Project Improvements (as evidenced by a successful final inspections and final acceptance of the Project Improvements), or should Developer fail to comply with any City code after proper notice and reasonable opportunity to cure the same. This Agreement shall automatically terminate upon expiration or termination of the Plan, and upon such expiration or termination, the Parties' obligations hereunder shall terminate, whether or not the full cost of the Project Improvements has been reimbursed to the Developer. 6. Governing Law: Venue. This Agreement shall be governed and construed in accordance with the laws of the State of Colorado. In the event of a dispute concerning any provision of this Agreement, the Parties agree that prior to commencing any litigation, they shall first engage in a good faith the services of a mutually acceptable, qualified, and experienced mediator, or panel of mediators for the purpose of resolving such dispute. In the event such dispute is not fully resolved by mediation or otherwise within 60 days of a request for mediation by any Party, then any Party may commence legal proceedings regarding the dispute. The venue for any lawsuit concerning this Agreement shall be in the District Court for Boulder County, Colorado. 7. Legal Challenge; Escrow. The LRC and City shall have no obligation to make any payment hereunder during the pendency of any legal challenge to this Agreement. The Parties covenant that neither will initiate any legal challenge to the validity or enforceability of this Agreement, and the Parties will cooperate in defending the validity or enforceability of this Agreement against any challenge by any third party. Any funds appropriated for payment under this Agreement shall be escrowed in a separate City account in the event there is a legal challenge to this Agreement. In the event performance of any material term of this Agreement is rendered impossible as the result of any legal challenge, the City or LRC may terminate this Agreement, in which case the