Resolution 2016-73 - Laserfiche WebLink

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30. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original and all of which shall constitute one and the same agreement. 31. The validity and effect of this Agreement shall be determined in accordance with the laws of the State of Colorado. 32. City's obligations hereunder are expressly conditioned upon adoption by the City Council of the City of Louisville of an ordinance authorizing the purchase of the Property. In the event such ordinance is not adopted and effective prior to closing, this Contract shall terminate, all earnest money shall be returned to City, and both parties shall be released from all liability and further obligations hereunder. 33. The undersigned signatory of 608 Studios represents and warrants that it has been duly authorized to execute this Agreement on behalf of 608 Studios and has full power and authority to bind 608 Studios to the provisions hereof. 34. This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado. The parties agree that venue for any action concerning or relating to this Agreement shall be the Boulder County District Court. 35. Special Taxing Districts Disclosure SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND EXCESSIVE TAX BURDENS TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. CITY AND 608 STUDIOS SHOULD INVESTIGATE THE DEBT FINANCING REQUIREMENTS OF THE AUTHORIZED GENERAL OBLIGATION INDEBTEDNESS OF SUCH DISTRICTS, EXISTING MILL LEVIES OF SUCH DISTRICT SERVICING SUCH INDEBTEDNESS, AND THE POTENTIAL FOR AN INCREASE IN SUCH MILL LEVIES. NEXT PAGE IS THE SIGNATURE PAGE 11