Resolution 2010-21 - Laserfiche WebLink

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3. Use of Funds. Funds rebated pursuant to this Agreement shall be used by Main Street Drink and Dine LLC solely for obligations and /or improvements permitted under Louisville Municipal Code section 3.24.060 (as enacted by Ordinance No. 1507, Series 2007). 4. Entire Agreement. This instrument shall constitute the entire agreement between the City and Main Street Drink and Dine LLC and supersedes any prior agreements between the parties and their agents or representatives, all of which are merged into and revoked by this Agreement with respect to its subject matter. Contact information is as follows: Chad Sholders Main Street Drink and Dine LLC 701 Main Street Louisville, CO 80027 (303) 944 -1139 csholder mail co 5. Termination. This Agreement shall terminate and become void and of no force or effect upon the City if, by September 30, 2010, Main Street Drink and Dine LLC has not completed the project (as evidenced by the issuance of a certificate of occupancy for the full service Italian restaurant); or should fail to comply with any City code. 6. Business Termination. In the event that, within five (5) years of the commencement of the rebate term, the Latin "taco bar" ceases operations at 701 Main Street, Louisville, Main Street Drink and Dine LLC shall pay to the City the total amount of sales tax which were due and payable to the City but were rebated by the City to Main Street Drink and Dine LLC, as well as reimburse the City for any funds provided to Main Street Drink and Dine LLC pursuant to this Agreement. 7. Personal Guarantee. A personal guarantee in the form set forth on Exhibit A shall be executed by an individual acceptable to City and the original thereof shall be delivered to City prior to its execution of this Agreement. 8. Subordination. The City's obligations pursuant to this Agreement are subordinate to the City's obligations for the repayment of any current or future bonded indebtedness and are contingent upon the existence of a surplus in sales and use tax revenues in excess of the sales and use tax revenues necessary to meet such existing or future bond indebtedness. The City shall meet its obligations under this Agreement only after the City has satisfied all other obligations with respect to the use of sales tax revenues for bond repayment purposes. For the purposes of this Agreement, the terms "bonded indebtedness," "bonds," and similar terms describing the possible forms of indebtedness include all forms of indebtedness that may be incurred by the City,