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�p wit� xame i�n��ro�vsmea� w tbc ary� dr�t vi tht kuer <br /> af a�nuae�a t�b�►t woak! en�noe tl�c pTOtactiva at tbe City'� <br /> iute.rest� I aoquirod tJ�t �istsn�a o� Harb� B�t1�t � rcal <br /> �stirte �►ttaney. Bubu�a has rcvitw�d ths ktter of �r�; <br /> aad ch�a� to tbe �wbdivi�ioe a,�resmen,t She h�ut bcco 00 <br /> t�kphoae na�vers�tic� I ha� had witb botb xhe ckvetvper <br /> and wicb tl�e b�nk tryia� to rcio� thrac canctra�. Banks bas <br /> m�e � ouml�r of sug�c,s#io�as th�t h�ve en�harnad t� qualily <br /> of �e protcc�ioa that would b� afford�sl i�c City, Under�ir� <br /> �11 t6u, ��iia, ao mattcr haw lon� we drsflt tbcsc documeat� <br /> tbc b�ic u�adertyi.ug conc�pa will uot be as protectivc � the <br /> Ciry a� wawld a lettcr of �:�edit ar es�. What y�w an b►eia� <br /> a�kcd to do tc�ight i� to �pp�avc a�erie� of sm�uc�m�an to <br /> thc stuud�rd wbdivi�ion e�reemer�t, vr�hich wouki �p�ply anh► <br /> to tLe Lou�svilk �'laz�, (nc. <br /> Gr�tttt rcvi�wed the rccomme�tiomr of hcrw tht City �ouk� procced if i� wi�e� to ttave <br /> �a �Jt�ern�tive to th� ca�h ar kttet o# crr.dit, Ttr� aaac�usion b thut the ktter uf uwr+� <br /> d od a pnrotectiv� of the Gry �u c�ab or � le�ter or credit Howevcr, pven � vuietp ot' <br /> Eircwr: w�ich #re m�auoacd in tbe mcmo, it �t the �►qorney'a coQClur�a� tLst tbis opprc�ch <br /> will prwi� � �eaianablc �wrwa. Apprwtl of �hiz agrccment will not be harmfut to the <br /> �ity'� iatcre�t. Tbe kve� af �u�eraAtee ufldeE thca�e documsna ic #�r kss thaa the ktter oE <br /> ctedit, but w�e think th�re �u+e soate re�scwsb}e �ssursnce t�t tht Gry': i�ttr�st woA't be <br /> su�bs4u�tia�l�y har�med if it fallaw: thu► appro#c�. Some vf' t�e rr�awr�xblG assurmnce�t ue; <br /> �ding of the Ctty Audiwr re�,udin,z the finaacisl st�bifiry o! the pers�on�►I gua�anWr� af <br /> t� 1o�a a�tcm��t �tl�e loaw betwce� Louisvitk Pl�►�,�, Inc. �nd th� bsnk}. Hawsver, �t alsa <br /> p�rsoaall� gr�ransccd by iaur ind►.�dux1�. T�e City Aaditur reviewed the 5nancia! <br /> st�tca�eot� o� tiw� fa�r i�dividy� �nd cam�e to Gert�i�t coaclus�ionx whic� is i� thc l�ttter <br /> from 8ondi � Co, {Attub►mtnt A}; �t�ocond�y t6�t pubti� impr�rvements �re site speci�c. t1�t <br /> it,, they r�latie principaltp ta tl�at onc �rr,�. Failurc to compktc thasG improvcmc�t� witb,� <br /> tbat ax uea would aat tsave a sub:t�wti�rtly dctrimcnt#1 �ffect on aay othcr poriiaa af the <br /> Cit�►. Tbey uc �etseed�kd to bc compfetrd in the earfy part af tL� projoct. T1�e la�n it�elf <br /> u a portioa of wh�t is b�it� set �side under the ktt�er a[ as:ur�. Th� ]ctt�er itr�elf dae; <br /> not come dwe uaul Ju�, 1992. 73ese imprw+�me�ut: ue t�o bc complcted on Acct�b�er 24� <br /> 1941. Wc have amcndad tbe wbdivisioA a�r�em�qt to state t�ut it � tx c�o�mpletcd br <br /> D�ectmbrr 24, l991 cx tbere will br a dcfault i�n the s�►Udivision �,rccmcax '1'Lc City can <br /> t.b�n panue the varic� re�nedie� thi►t it �s undtr the kttcr of usursn�x �nd atber <br /> documcnts, Thc�e arc �riu af tlniug� thxt �hauki bc dra#ttd in the iAiti� dowmcnts to <br /> t�ke tbast uuon,w in tie� c� tbe lcacr af arrdit or ca:L; ,�ubdivider would prwide thc Ciry <br /> Si5,000 of the auu�at�ee ia c�sh (the tatxl pe�b3ic impravements ta bc �u�rsnt�ced �re <br /> sstiui�ted to be sppraxim�k�y t350,QU0); :ll tha� impravcm�nts with tbe ea�+cepuv� of <br /> s1�.OQ4 i� l�ud�c��ac improvcracat�, ar�c ta be co+an�f�tt�ed culy i� t�� projcct and certxinl�► <br /> by M3�ocewb�r 24. 199], le�vin� thc Liwdscapiu� imprarcmant�, wme a�' ww.ich wi�ht be <br /> cvanpkted ncxi �pric�. 'I]k 51�.0(IO in cx�h wouk� c�o�vcr tbo�e txud�c�pe imprcwtm�at�. <br /> 'Thc �rctasc�t w�s to bc �mcnd�d i� tbe fdk�win,6 rt���r; any it�tete�t ��ut b� rcp�id <br /> w tbe �ity it it i� rcyuur.� to �dva�ce t5c ccxt of complcti.r� sny of the impravcmcnt�. The <br />