Common use of Additional Obligations Clause in Contracts

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Planned Development Agreement

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Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii11(e) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. way The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. . In the event the Township determines that the Improvementsdetention/retention basins Improvements are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basinsImprovements, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basinsImprovements, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins Improvements if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basinsImprovements, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins Improvements in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- one-half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Planned Development Agreement

Additional Obligations. i. Except The Sublease is hereby amended to provide ---------------------- that, subject to the provisions of this Section 2 and Section 3 hereof, in addition to the rents and obligations of Lessee under the Sublease, the Lessee shall also assume all of the rents and obligations of the Lessor, in its capacity as a lessee, under the terms of the Base Lease (except as further provided in this Section 2 and except that for so long as the Base Lease is in effect, the Lessee's obligation to make the rental and other payments provided for in the Base Lease shall be in lieu of Lessee's obligations to reimburse Lessor for real and personal property taxes paid by Lessor, as provided in subparagraph 11(ec)(ii) below, Developer shall be responsible for the repair/maintenance Section 4.2 of the all Improvements within Sublease) without diminishing the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements other rental obligations in the event DeveloperSublease. These assumed obligations shall include, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins but are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen limited to: (15a) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement all Basic Rent under Section 4.01(2) of the work. In any eventBase Lease, (b) payment of all maintenance assessments shall be due ad valorem taxes and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, payments in lieu of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery taxes described in Article IV and VI of the invoice shall bear interest at the rate Base Lease, (c) payment of one and one- half (1 ½%) percent per month until paid. If such all costs and expenses have not been paid within thirty (30) days of a billing required under the Base Lease to exercise the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as option to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and purchase contained in the event Base Lease (including the Township prevails in such suitOption Price of One Thousand Dollars, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs recording expenses for a quit claim deed and reasonable attorney fees incurred of counsel for Lessor and the IDB but --- excluding the payment of the principal and accrued interest then due and owing under the Note (as defined in the Base Lease) which shall be paid by Lessor), and (d) all indemnification and reimbursement due from Lessor to the IDB under the Base Lease including, but not limited to, Sections 5.03, 6.01 and 6.02 of the Base Lease, except to the extent the same are attributable to the acts or omissions of the Lessor. Such assumed obligations shall be subject to the following provisions: (i) The Base Lease obligations so assumed by the Township Lessee shall be in connection with such suit. The Township the nature of Additional Rent under the Sublease, payable as the same become due under the Base Lease, and discharged by direct remittance to, or performance for the benefit of the IDB. (ii) Such assumed obligations shall also have not xxxxx, notwithstanding the enforcement rights otherwise terms of the Sublease, unless (and only to the extent that) an abatement is expressly provided under the terms of the Base Lease. (iii) Lessee shall at all times throughout the term of the Base Lease maintain and cause the Project to constitute a "Project" within the meaning of Section 7-53-101 of the Tennessee Code Annotated. (iv) Notwithstanding any other provision contained herein or in applicable Township Ordinances and the Development Documents. This paragraph Sublease or Base Lease, Lessee shall not be deleted liable or revised without responsible under this Amendment for (i) any obligations or liabilities of Lessor contained in the approval Base Lease which are also the obligations or liabilities of Lessor under the Sublease (collectively, the "Lessor Sublease Obligations"); or (ii) payment of Basic Rent payable by lessee under Section 4.01(1) of the TownshipBase Lease. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Lease Agreement (Genesis Direct Inc)

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii11(e) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. way The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins Improvements are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basinsImprovements, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basinsImprovements, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins Improvements if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basinsImprovements, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins Improvements in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Planned Development Agreement

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall attached Schedule 4 does not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within of land described on the Projectattached Schedule 8 ( Xxxx 00, 00, 00 xxx 00 ), xxxxx owners have the right to use the one or more of the Roadways pursuant to separate agreements that do not contain express provisions regarding the collection of maintenance expenses (each an, Excluded User, and together the, Excluded Users ). The Township will Managing Owner shall have the right, but not take action the obligation, to enter seek to obtain reimbursement from the Excluded Users of their respective shares of maintenance and repair expenses for the Roadways, either by having the Excluded Users execute joinders to this Declaration or pursuant to the provisions of ORS 105.170 to ORS 105.185; provided however, that the Managing Owner shall have no obligation to institute litigation to collect maintenance and repair expenses from the Excluded Users. To the extent an Excluded User agrees to be obligated to pay its share of maintenance and repair expenses under this Declaration, the Managing Owner shall revise Schedule 4 (without the need for a formal amendment to this Declaration) to proportionately reduce the percentage for which each Owner of the Benefited Property is responsible for maintenance and repair expenses under this Declaration based upon such new allocation. To the extent an Excluded User agrees to pay its share of a maintenance and repair expense but does not agree to do so under this Declaration then, upon the Property and repair/maintain Managing Owner s actual receipt of payment from an Excluded User, each Owner s maintenance or repair payment shall be reduced (or refunded if payment has previously been made) by an amount equal to the Improvementsdetention/retention basins ifproduct of (i) the amount paid by an Excluded User, within less the fifteen reasonable costs of collection incurred by the Managing Owner (15) days following the Township’s noticeincluding, without limitation, the developercosts of its in-house personnel), multiplied by (ii) such Owner s Maintenance and Approval Percentage. If the Managing Owner incurs costs (including, without limitation, the property owner(scosts of its in-house personnel) in pursuing reimbursement or joinders from the AssociationExcluded Users, as applicablethen, has taken appropriate steps to repair/maintain regardless whether the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins Managing Owner is successful in accordance with this sectionobtaining reimbursement or joinder, the Township may add to costs of pursuing reimbursement or joinder shall be included in the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement Roadways for which each Owner of the work. In any event, all maintenance assessments Benefited Property shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery pay such Owner s share of the invoice shall bear interest at the rate of one collection costs in proportion to such Owner s Maintenance and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the TownshipApproval Percentage. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Schnitzer Steel Industries Inc)

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii10(e) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. way The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins Improvements are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basinsImprovements, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basinsImprovements, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins Improvements if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basinsImprovements, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins Improvements in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Planned Development Agreement

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall attached Schedule 4 does not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within of land described on the Projectattached Schedule 8 ( Xxxx 00, 00 xxx 00 ), xxxxx owners have the right to use Tract A pursuant to separate agreements that do not contain express provisions regarding the collection of maintenance expenses (each an, Excluded User, and together the, Excluded Users ). The Township will Managing Owner shall have the right, but not take action the obligation, to enter seek to obtain reimbursement from the Excluded Users of their respective shares of maintenance and repair expenses for the Roadway and the Storm Water System, either by having the Excluded Users execute joinders to this Declaration or pursuant to the provisions of ORS 105.170 to ORS 105.185; provided however, that the Managing Owner shall have no obligation to institute litigation to collect maintenance and repair expenses from the Excluded Users. To the extent an Excluded User agrees to be obligated to pay its share of maintenance and repair expenses under this Declaration, the Managing Owner shall revise Schedule 4 (without the need for a formal amendment to this Declaration) to proportionately reduce the percentage for which each Owner of the Benefited Property is responsible for maintenance and repair expenses under this Declaration based upon such new allocation. To the extent an Excluded User agrees to pay its share of a maintenance and repair expense but does not agree to do so under this Declaration then, upon the Property and repair/maintain Managing Owner s actual receipt of payment from an Excluded User, each Owner s maintenance or repair payment shall be reduced (or refunded if payment has previously been made) by an amount equal to the Improvementsdetention/retention basins ifproduct of (i) the amount paid by an Excluded User, within less the fifteen reasonable costs of collection incurred by the Managing Owner (15) days following the Township’s noticeincluding, without limitation, the developercosts of its in-house personnel), multiplied by (ii) such Owner s Maintenance and Approval Percentage. If the Managing Owner incurs costs (including, without limitation, the property owner(scosts of its in-house personnel) in pursuing reimbursement or joinders from the AssociationExcluded Users, as applicablethen, has taken appropriate steps to repair/maintain regardless whether the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins Managing Owner is successful in accordance with this sectionobtaining reimbursement or joinder, the Township may add to costs of pursuing reimbursement or joinder shall be included in the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by Roadway and the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement Storm Water System for which each Owner of the work. In any event, all maintenance assessments Benefited Property shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery pay such Owner s share of the invoice shall bear interest at the rate of one collection costs in proportion to such Owner s Maintenance and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the TownshipApproval Percentage. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Schnitzer Steel Industries Inc)

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii(a) below, Developer shall be responsible for the repair/maintenance The obligation of the all Improvements within the Project, at no cost Seller to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township make available Net Energy pursuant to this Agreementagreement is on an as-generated, including without limitation unit contingent basis, and Seller’s failure to make available Net Energy will not give Buyer the right to complete and/or maintain any damages, other than as specifically set forth in section 6.4. Without limiting the Improvements foregoing: (i) Seller shall provide Buyer with reasonable advance Notice of project maintenance that will reduce delivered Net Energy; and (ii) Seller shall provide Notice of any reduction in delivery of Net Energy due to a forced outage or based on any other transmission provider or MISO notice to reduce or discontinue deliveries from the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys Project pursuant to the Township a right and easement over terms of the common areas and open spaces LGIA or applicable tariff that will reduce the output of the Project and other elements necessary by more than 25%. Seller’s Notice shall include the expected duration, if known, of such reduction or termination of deliveries. (b) Notwithstanding anything to provide for maintenancethe contrary in this agreement, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township Seller shall have a continuing right no obligation to enter onto the Project and the Property make Net Energy available for the foregoing purposes any period: (i) in connection with the Improvements incorporated into the Project. Developer shall provide individual easements which Seller’s obligation to make Net Energy available is suspended pursuant to section 16.4; or (ii) in recordable form for each infrastructure component of the Improvementswhich either Party’s obligations are suspended due to Force Majeure. iii. The Improvements as constructed shall (c) If Buyer is an Electric Utility, then not be altered in any material way. The repair and maintenance of later than [6] Months before the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced Commercial Operation Date expected by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basinsSeller, and thereafter diligently pursues completion 30 Days before the start of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this sectioneach Contract Year, the Township may add Buyer shall provide to the actual cost of maintenance and repair Seller a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice Forecasted Total Retail Load for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty next Contract Year. (30d) days following the delivery of the invoice Seller shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing make Commercially Reasonable Efforts to sell Other Products, except to the developer, the property owner(s) extent that such sale efforts conflict with Seller’s obligation to deliver Net Energy under this agreement; any other obligation of Seller under this agreement; Seller’s Cooperative Agreement; or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the TownshipApplicable Law. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Power Purchase Agreement

Additional Obligations. i. Except Tenant further agrees, at all times during the Term, that: (a) Tenant may promote its operations at the Hotel using only such trade name and such trade marks and logos and other brand identifiers as provided are designated by Landlord in subparagraph 11(ec)(iiLandlord’s sole, absolute and subjective discretion and will abide by all licensing agreements related to the use of any such trade names, trade marks, logos and other brand identifiers; (b) belowTenant shall not conduct any auction, Developer fire, distress or bankruptcy sales within the Leased Property; (c) Tenant shall not use or permit the use of any portion of the Leased Property for any unlawful purpose; (d) Tenant shall not perform any act or carry on any practice which may injure the Leased Property, cause any offensive odors or loud noise, constitute a nuisance or a menace, obstruct or materially interfere with the rights of Landlord, or commit or suffer any immoral or illegal act to be responsible committed thereon; (e) unless otherwise consented to by Landlord, which consent may be withheld in Landlord’s sole discretion, Tenant shall conduct the Gaming Operations on a twenty four (24) hour-a-day, seven (7) day-a-week basis; (f) Tenant shall not, without Landlord’s prior written consent, operate or permit to be operated on the Leased Property any coin or token-operated vending machines or similar devices for the repair/maintenance of the all Improvements within the Project, at no cost sale or leasing to the Townshippublic of any goods, until such time as the Association is formed wares, merchandise, food, beverages, and/or service, excluding any and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, all vending machines (including without limitation the right to complete and/or maintain the Improvements automated teller machines) constituting Gaming Assets and located in the event Developer, the property owner or the Association fail to do so Leased Property as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of ImprovementsCommencement Date, and Developer hereby covenants for itself, its successors, heirs and assigns, provided that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township Tenant shall have the right to take immediate corrective action operate Gaming Assets having capabilities similar to automated teller machines subject to Gaming Approval by the Nevada Gaming Authorities, if required; (g) without limiting the provisions of Article I hereof, Tenant shall, at all times during the Term, comply with all Applicable Laws and summarily xxxxx such danger. The Township will make its best effort to communicate shall also comply with the developerterms and conditions of any policies of insurance now or hereafter in effect pertaining to the Leased Property or the Hotel, except that matters relating to fire, building or other code deficiencies requiring alterations or improvements to the Hotel shall be abated by Landlord as an Operating Expense; and (h) Tenant shall not, without prior express written consent of Landlord, which may be withheld in Landlord’s sole, absolute and subjective discretion, keep, use or store or allow to be kept, used or stored, upon or about the Leased Property any Hazardous Materials. Notwithstanding Section 7.4 or any contrary provision of this Lease, Tenant will remain the owner of all Hazardous Materials installed or permitted to be installed by Tenant or any of Tenant’s agents, contractors, licensees, invitees, or employees upon or within the Leased Property. “Hazardous Materials” means and includes any substance, material, waste, pollutant, or contaminant that is or could be regulated under any Environmental Requirement or that may adversely affect human health or the environment, including, without limitation, any solid or hazardous waste, hazardous substance, asbestos, petroleum (including crude oil or any fraction thereof, natural gas, synthetic gas, polychlorinated biphenyls (PCBs), and radioactive material). “Environmental Laws” means all applicable present and future statutes, regulations, ordinances, rules, codes, judgments, permits, authorizations, orders, policies or requirements of any governmental or quasi-governmental authority, agency or court or of any insurer of Landlord or Tenant regulating or relating to health, safety, or environmental conditions on, under, or about the Leased Property or the environment, including without limitation, the applicable property owner(s) or following: the AssociationToxic Substances Control Act, as applicable, by telephone at the number to be provided by Developer15 U.S.C. Sec. 2601 et seq., the applicable property owner(s) Comprehensive Environmental Response, Compensation, and Liability Act of 1980, 42 U.S.C. Sec. 9601 et seq, the Association before taking such actionResource Conservation and Recovery Act of 1976, but 42 U.S.C. Sec. 5901 et seq., the Township will not be required Federal Hazardous Substances Act, 15 U.S.C. Sec. 1261 et seq., the Federal Water Pollution Control Act, 33 U.S.C. Sec. 1251 et seq., the Clean Air Act, 42 U.S.C. Sec. 7401, et seq., the Federal Insecticide, Fungicide, and Rodenticide Act, 7 U.S.C. Sec. 136 et seq., the Emergency Planning and Community Right to delay any action Know Act of 1986, 42 U.S.C. Sec. 11001 et seq., the Occupational Safety and Health Act of 1970, 29 U.S.C. Sec. 651 et seq., the Hazardous Materials Transportation Act, 49 U.S.C. Sec. 1801 et seq., the statutes of the State of Nevada found currently at Chs. 444, 445A, 445B, 445C, 459, 477, 590, 618 or in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the actionUniform Fire Code, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public common or private civil law obligations including, without limitation, nuisance, the same may be abated pursuant to Township ordinancestrespass or strict liability. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Asset Purchase Agreement (155 East Tropicana Finance Corp.)

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii11(e) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins Improvements are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basinsImprovements, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basinsImprovements, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins Improvements if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basinsImprovements, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins Improvements in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Planned Development Agreement

Additional Obligations. i. Except as provided 23.1 In case any claim is made, or any suit or action is commenced, against a Party (the “Indemnified Party”) in subparagraph 11(ec)(iirespect of which indemnification may be sought by it under Article 22 and this Article 23, the Indemnified Party shall promptly give the other Party (the “Indemnifying Party”) below, Developer notice thereof and the Indemnifying Party shall be responsible for entitled to participate in the repair/maintenance defense thereof and, with prior written notice to the Indemnified Party given not later than twenty (20) days after the delivery of the all Improvements within applicable notice from the ProjectIndemnified Party, to assume, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event DeveloperIndemnifying Party’s expense, the property owner defense thereof, with counsel reasonably satisfactory to such Indemnified Party. After notice from the Indemnifying Party to such Indemnified Party of its election so to assume the defense thereof, the Indemnifying Party shall not be liable to such Indemnified Party under this Article 23 for any attorneys’ fees or the Association fail to do so as required other expenses subsequently incurred by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes such Indemnified Party in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component defense thereof, other than reasonable costs of the Improvements. iii. The Improvements investigation and other than as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the TownshipSection 23.2. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township 23.2 The Indemnified Party shall have the right to employ its own counsel if the Indemnifying Party elects to assume such defense, but the fees and expenses of such counsel shall be at the Indemnified Party’s expense, unless (i) the employment of such counsel at the Indemnifying Party’s expense has been authorized in writing by the Indemnifying Party, (ii) the Indemnifying Party has not employed counsel to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with charge of the developer, defense within twenty (20) days after delivery of the applicable property owner(s) or the Associationnotice or, as applicablehaving elected to assume such defense, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking thereafter ceases its defense of such action, or (iii) the Indemnified Party has reasonably concluded that there may be defenses available to it which are different from or additional to those available to the Indemnifying Party (in which case the Indemnifying Party shall not have the right to direct the defense of such action on behalf of the Indemnified Party), in any of which events the attorneys’ fees and expenses of counsel to the Indemnified Party shall be borne by the Indemnifying Party. 23.3 The Indemnified Party or Indemnifying Party may at any time notify the other of its intention to settle or compromise any claim, suit or action against the Indemnified Party in respect of which payments may be sought by the Indemnified Party hereunder, and (i) the Indemnifying Party may settle or compromise any such claim, suit or action solely for the payment of money damages for which the Indemnified Party will be released and fully indemnified hereunder, but shall not agree to any other settlement or compromise without the Township will prior written consent of the Indemnified Party, which consent shall not be required unreasonably withheld (it being agreed that any failure of an Indemnified Party to delay consent to any settlement or compromise involving relief other than monetary damages shall not be deemed to be unreasonably withheld), and (ii) the Indemnified Party may not settle or compromise any such claim, suit or action without the prior written consent of the Indemnifying Party, which consent shall not be unreasonably withheld. 23.4 The Indemnifying Party shall promptly notify the Indemnified Party if the Indemnifying Party desires not to assume, or participate in the event defense of, any third party claim, suit or action. 23.5 If an Indemnified Party fails to give prompt notice of an impending any claim being made or any suit or action being commenced in respect of which indemnification under Article 22 and immediate danger if it is unable this Article 23 may be sought, such failure shall not limit the liability of the Indemnifying Party to make contact with Developerthe extent the Indemnifying Party’s ability to defend the matter was not actually prejudiced by such failure to give prompt notice. 23.6 Notwithstanding anything to the contrary in this Agreement, no Party shall be liable to the applicable property owner(s) other for consequential, punitive or exemplary damages relating to or arising out of Article 22 and this Article 23, unless the AssociationIndemnified Party shall have become liable to a third party for such consequential, punitive or exemplary damages, in which event case the Township will provide notice Indemnifying Party shall be liable, subject to and in accordance with the terms of Article 22 and this Article 23 for reimbursement of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking amounts so paid to such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinancesthird party. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Consumer Financing Services Agreement (APX Group Holdings, Inc.)

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Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii11(c)(ii) below, Developer shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetentiondetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetentiondetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetentiondetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetentiondetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetentiondetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetentiondetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- one-half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Planned Development Agreement

Additional Obligations. i. Except 6.1 As of the effective date, the Buyer shall enter into all warranties, guaranties, and sureties of any kind (including back-to-back warranties and back-to-back guaranties toward banks or third parties), which are enumerated in Appendix 6.1 under the heading "Group Guaranties" and under the heading "Bank Guaranties," as provided well as the economic risk related to the business activities set forth in subparagraph 11(ec)(ii) belowAppendix 6.1 which were taken on by MDKM or one of its affiliates on behalf of the CBL Group companies. Without assuming additional financial obligations, Developer the Buyer shall endeavor, to the best of its ability, to ensure that the aforementioned guaranties are released immediately. In case guaranties are not released, the Buyer shall hold MDKM and its affiliates harmless from any of the warranties, guaranties, and sureties enumerated in Appendix 6. 1. If the Buyer has not, within 30 days of the closing date, caused the aforementioned guaranties to be released, it shall submit to MDKM, for the purpose of securing such claim for release, an unlimited guaranty, payable upon first demand, issued by a major German bank for an amount that equals the sum total of all guaranties, sureties, etc. enumerated in Appendix 6.1, however, not to exceed DEM 6,500,000. The amount of such bank guaranty shall be responsible for the repair/maintenance of the all Improvements within the Project, at no cost to the Township, until such time reduced successively as the Association is formed guaranties enumerated in Appendix 6.1 are released. If warranties, guaranties, and the appropriate Declaration of Restrictions and/or Master Deed has been recordedother sureties, which sets forth were assumed by MDKM or one of its affiliates on behalf of CBL Group companies, were inadvertently not included in Appendix 6.1, the rightsparties shall agree, powersin economic terms, privileges, responsibilities and duties so assigned and conveyed, and which makes that the Association responsible for risks secured thereby shall finally remain with the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsibleCBL Group companies. ii. To 6.2 The Buyer shall ensure that the extent necessary to permit CBL Group companies cease, no later than six months from the Township to perform any right granted to or obligation assumed by the Township pursuant to date of this Agreement, including without limitation to use prospectuses, brochures, or other documents that contain the right names "Mannesmann," "Demag," "Xxxxxx-Xxxxxx," or any other designations capable of being confused with the aforementioned names. 6.3 MDKM undertakes hereby, subject to complete and/or maintain the Improvements conditions precedent set forth in Article 1.3, to transfer its rights and duties under the event DeveloperOption Agreement to the Buyer in a separate contract, with the effect of being released from its obligations. The Buyer undertakes to conclude such a contract and to accept such transfer. MDKM warrants that the aforementioned contract shall be concluded no later than June 15, 2000. In terms of the internal relationship between the Buyer and MDKM, as of the date on which this Agreement is notarized, the property owner Buyer shall hold MDKM harmless from all claims under or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component exercise of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associationsoptions, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, well as under or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have contractual violations on the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval part of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) Buyer (or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect third parties to which the assessment is made, andBuyer has transferred the Option Agreement). Specifically, if Xx. Xxxxxx exercises his option to sell before the assessments are not timely paid by the DeveloperOption Agreement is transferred, the applicable property ownersBuyer shall reimburse to MDKM the purchase price for the equity stakes held by Xx. Xxxxxx, or in return for the Association, as applicabletransfer to the Buyer of these equity stakes. Further, the liens may be enforced by Buyer shall ensure that the Township guaranty stipulated in the same manner as enforcement of liens for delinquent real property taxesss.

Appears in 1 contract

Samples: Acquisition Agreement (Rofin Sinar Technologies Inc)

Additional Obligations. i. Except OF BUYER AND ACQUIRED CORPORATION RELATING TO THE COMMUNITY BANCSHARES, INC. EMPLOYEE STOCK OWNERSHIP PLAN. Buyer and Acquired Corporation will cooperate to terminate the Community Bancshares, Inc. Employee Stock Ownership Plan (the "ESOP"), subject to receipt of a favorable private letter ruling from the IRS. Acquired Corporation, as provided in subparagraph 11(ec)(ii) below, Developer shall be responsible for the repair/maintenance sponsor of the all Improvements within ESOP, agrees that as soon as administratively feasible following the Project, at no cost to the Township, until such time as the Association is formed and the appropriate Declaration execution of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation independent legal counsel ("ESOP Counsel") will be appointed to advise the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys ESOP's Administrative Committee with regard to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenanceexercise, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into proposed Merger, of their power and responsibility to vote unallocated shares of Acquired Corporation Stock held by the Projecttrust associated with the ESOP (the "ESOP Trust"). Developer shall provide individual easements in recordable form for each infrastructure component The parties also agree that, following the termination of the Improvements. iii. The Improvements ESOP and receipt of a favorable determination letter from the IRS relating to such termination, Buyer shall take appropriate steps as constructed shall not be altered in any material way. The repair and maintenance soon as administratively practicable to distribute the assets of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins ESOP Trust in accordance with this sectionthe terms of the ESOP and applicable Law. The parties further agree that as soon as practicable following the Effective Date of the Merger, by means of a process conducted in a manner consistent with the Township may add requirements of the Code, ERISA, other applicable law and the terms of the ESOP, any existing liability of the ESOP collateralized on the Effective Date of the Merger with employer stock (currently Acquired Corporation Stock) shall be fully paid off by the ESOP through the application of the proceeds from the sale of a sufficient number of shares of Buyer's Common Stock which, incident to the actual cost of maintenance Merger, is issued to the ESOP and repair a sum equal substituted as the collateral for such liabilities; the parties further agree that subject to twenty-five (25%) percent the requirements of the costs incurred by Code, ERISA, other applicable law and the Township in completing terms of the same ESOP, that any residual sale proceeds and any residual shares of Buyer's Common Stock pledged with respect to cover the costs of servicing this Agreement. The Township may require liabilities satisfied incident to such sale shall be allocated after the payment of such monies prior permissible administrative expenses (which shall include, but not be limited to, the reasonable expenses associated with ESOP Counsel) as earnings to commencement the account balances of the workESOP participants, alternate payees and beneficiaries. In any eventNotwithstanding the foregoing, all maintenance assessments shall Buyer agrees that no such termination will be due required if and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) extent that it would have a Material Adverse Effect on Acquired Corporation or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect litigation to which the assessment ESOP is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxesa party.

Appears in 1 contract

Samples: Merger Agreement (Banc Corp)

Additional Obligations. i. Except (a) The obligation of Seller to make available Net Energy pursuant to this agreement is on an as-generated, unit contingent basis, and Seller’s failure to make available Net Energy will not give Buyer the right to any damages, other than as provided specifically set forth in subparagraph 11(ec)(iisection 6.4. Without limiting the foregoing: (i) belowSeller shall provide Buyer with reasonable advance Notice of project maintenance that will reduce delivered Net Energy; and (ii) Seller shall provide Notice of any reduction in delivery of Net Energy due to a forced outage or based on any other transmission provider or MISO notice to reduce or discontinue deliveries from the Project pursuant to the terms of the LGIA or applicable tariff that will reduce the output of the Project by more than 25%. Seller’s Notice shall include the expected duration, Developer if known, of such reduction or termination of deliveries. (b) Notwithstanding anything to the contrary in this agreement, Seller shall be responsible have no obligation to make Net Energy available for any period: (i) in which Seller’s obligation to make Net Energy available is suspended pursuant to section 16.4; or (ii) in which either Party’s obligations are suspended due to Force Majeure. (c) If Buyer is an Electric Utility, then not later than [6] Months before the Commercial Operation Date expected by Seller, and thereafter [10130 Days]102 before the start of each Contract Year, Buyer shall provide to the Seller a Forecasted Total Retail Load for the repair/maintenance next Contract Year. (d) Seller 103shall make104will retain and use105 Commercially Reasonable Efforts to sell 106Other Products, except to the extent that such sale efforts conflict with Seller’s obligation to deliver Net Energy under this agreement; any other obligation of the Seller under this agreement; Seller’s Cooperative Agreement; or Applicable Law107Capacity Attributes, Ancillary Services, Environmental Attributes (not required by Buyer to satisfy its Clean Coal Portfolio Standard requirement), and all Improvements within other attributes, products or services of the Project, at no cost and Seller shall apply the proceeds of any sales thereof to reduce the Township, until such time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection Contract Price due from Buyer pro rata with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same “Buyers” purchasing Net Energy from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.Project108.109

Appears in 1 contract

Samples: Unit Contingent Power Purchase Agreement

Additional Obligations. i. Except as provided in subparagraph 11(ec)(ii) below, Developer shall be responsible for In addition to the repair/maintenance payment of the amounts set forth in Sections 4.3 and 4.4 hereof, the Buyer agrees to: (A) assume responsibility for all Improvements within the Project, at no cost Liabilities relating to the Township, until such time as the Association is formed System that occur post- Closing; (B) assume and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyed, and which makes the Association responsible for the repair/maintenance meet all contractual commitments of the Improvements. At that time Borough on and after the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes Closing Date in connection with the Improvements incorporated into contracts set forth in Exhibit E (collectively, (A) and (B) constitute the Project. Developer shall “Assumed Liabilities”); (C) comply with the Rate Stabilization Covenant set forth in Section 8.3; (D) provide individual easements in recordable form for each infrastructure component the customers of the ImprovementsSystem with continuous, safe and reliable service in accordance with applicable laws and regulations, and the Buyer’s tariff as approved by the BPU; (E) maintain or expand the System in conformance with existing Borough land use and zoning ordinances, master plan, and historic district standards, as applicable; (F) make the required capital improvements pursuant to Section 8.4; and (G) make application for the transfer, effective at the Closing, of all System permits and approvals issued to the Borough prior to Closing by the NJDEP or any other local, State or federal agency. iii(H) offer to the Borough a right of first refusal, to buy at fair market value, any real property, and the facilities located thereon, that comprises the System in the event that the Buyer ceases to utilize same for potable water distribution to the Borough and its residents and business; provided that if Borough exercises the right of first refusal, the Borough and Buyer shall determine the fair market value of the real property via an appraisal, and the facilities located thereon that comprise the System. The Improvements For the avoidance of all doubt, the fair market value of the property shall reflect the value of the property taking into consideration the deed restriction applicable thereto. (I) transition Borough residents to monthly billing within the first 18 months of date of acquisition in conjunction with the installation of Advanced Meter Infrastructure (AMI), as constructed referenced in the capital improvements plan (Exhibit K). Notwithstanding the foregoing, Buyer shall not assume and shall not be altered in responsible to pay, perform or discharge any material way. The repair and maintenance other Liabilities or obligations of the Improvements shall not be deemed a material alteration. iv. Easements for Borough (the repair/maintenance “Excluded Liabilities”), which include without limitation: (i) any Liabilities or obligations of the Improvements are acknowledged and reserved as shown on Borough not arising out of or relating to the approved final utility plan. No structure, landscaping, planting, fill Borough’s ownership or other material shall be placed which may interfere with, impede, obstruct or change the direction operation of the water flow within the easements for the SystemBusiness or Purchased Assets, Project drainage areas(ii) any Liability, obligation or commitment arising out of any Contract not expressly assumed by Buyer, and utility easement areas(iii) any Liability, obligation or commitment of the Borough to the extent relating to, or which otherwise interferes with the use arising out of, any Excluded Asset, and maintenance (iv) any Liabilities related to any of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsibleforegoing. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney fees, to the owners of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins if, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Township. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Agreement of Sale

Additional Obligations. i. Except (a) The obligation of Seller to make available Net Energy pursuant to this agreement is on an as-generated, unit contingent basis, and Seller’s failure to make available Net Energy will not give Buyer the right to any damages, other than as specifically set forth in section 6.4. Without limiting the foregoing: (i) Seller shall provide Buyer with reasonable advance Notice of Project maintenance that will reduce delivered Net Energy; and (ii) Seller shall provide Notice of any reduction in delivery of Net Energy due to a forced outage or based on any other transmission provider or MISO notice to reduce or discontinue deliveries from the Project pursuant to the terms of the LGIA or applicable tariff that will reduce the output of the Project by more than 25%. Seller’s Notice shall include the expected duration, if known, of such reduction or termination of deliveries. (b) Notwithstanding anything to the contrary in this agreement, Seller shall have no obligation to make Net Energy available for any period: (i) in which Seller’s obligation to make Net Energy available is suspended pursuant to section 16.4; or (ii) in which either Party’s obligations are suspended due to Force Majeure. (c) If Buyer is an Electric Utility, then notNot later than 9 Months before the Commercial Operation Date expected by Seller, and thereafter 120 Days before the start of each Contract Year, Buyer shall provide to the Seller ais portion of the Forecasted Total Retail Load for the next Contract Year. (d) Seller shall use Commercially Reasonable Efforts to sell Capacity Attributes, Ancillary Services, Environmental Attributes (not required by Buyer to satisfy its Clean Coal Portfolio Standard requirement), and all other attributes, products or services of the Project, and Seller shall apply the proceeds of any sales thereof to reduce the Contract Price as provided in subparagraph 11(ec)(iisection 5.2(d), except to the extent that such sale efforts conflict with Seller’s obligation to deliver Net Energy under this agreement; any other obligation of Seller under this agreement; Seller’s Cooperative Agreement; or Applicable Law. (e) below, Developer shall be responsible for Buyer will have the repair/maintenance of the all Improvements within the Projectright, at no cost to the Townshipits sole expense, until such after Notice given a reasonable time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyedin advance, and which makes during normal business hours of Seller, to examine and audit the Association responsible for the repair/maintenance books and records of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary Seller related to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to Buyer’s transactions under this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney feesagreement, to the owners extent reasonably necessary to verify the accuracy of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins ifany statement, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) charge or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws computation made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Townshiphereunder. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Unit Contingent Power Purchase Agreement

Additional Obligations. i. Except (a) The obligation of Seller to make available Net Energy pursuant to this agreement is on an as-generated, unit contingent basis, and Seller’s failure to make available Net Energy will not give Buyer the right to any damages, other than as specifically set forth in section 6.4. Without limiting the foregoing: (i) Seller shall provide Buyer with reasonable advance Notice of Project maintenance that will reduce delivered Net Energy; and (ii) Seller shall provide Notice of any reduction in delivery of Net Energy due to a forced outage or based on any other transmission provider or MISO notice to reduce or discontinue deliveries from the Project pursuant to the terms of the LGIA or applicable tariff that will reduce the output of the Project by more than 25%. Seller’s Notice shall include the expected duration, if known, of such reduction or termination of deliveries. (b) Notwithstanding anything to the contrary in this agreement, Seller shall have no obligation to make Net Energy available for any period: (i) in which Seller’s obligation to make Net Energy available is suspended pursuant to section 16.4; or (ii) in which either Party’s obligations are suspended due to Force Majeure. (c) If Buyer is an Electric Utility, then nNot later than 9 Months before the Commercial Operation Date expected by Seller, and thereafter 120 Days before the start of each Contract Year, Buyer shall provide to the Seller a Forecasted Total Retail Load for the next Contract Year. (d) Seller shall use Commercially Reasonable Efforts to sell Capacity Attributes, Ancillary Services, Environmental Attributes, and all other attributes, products or services of the Project, and Seller shall apply the proceeds of any sales thereof to reduce the Contract Price as provided in subparagraph 11(ec)(iisection 5.2(d), except to the extent that such sale efforts conflict with Seller’s obligation to deliver Net Energy under this agreement; any other obligation of Seller under this agreement; Seller’s Cooperative Agreement; or Applicable Law. (e) below, Developer shall be responsible for Buyer will have the repair/maintenance of the all Improvements within the Projectright, at no cost to the Townshipits sole expense, until such after Notice given a reasonable time as the Association is formed and the appropriate Declaration of Restrictions and/or Master Deed has been recorded, which sets forth the rights, powers, privileges, responsibilities and duties so assigned and conveyedin advance, and which makes during normal business hours of Seller, to examine and audit the Association responsible for the repair/maintenance books and records of the Improvements. At that time the Association shall become responsible for the same and Developer shall no longer be so responsible. ii. To the extent necessary Seller related to permit the Township to perform any right granted to or obligation assumed by the Township pursuant to Buyer’s transactions under this Agreement, including without limitation the right to complete and/or maintain the Improvements in the event Developer, the property owner or the Association fail to do so as required by this Agreement, Developer hereby grants and conveys to the Township a right and easement over the common areas and open spaces of the Project and other elements necessary to provide for maintenance, operation and repair of Improvements, and Developer hereby covenants for itself, its successors, heirs and assigns, that the Township shall have a continuing right to enter onto the Project and the Property for the foregoing purposes in connection with the Improvements incorporated into the Project. Developer shall provide individual easements in recordable form for each infrastructure component of the Improvements. iii. The Improvements as constructed shall not be altered in any material way. The repair and maintenance of the Improvements shall not be deemed a material alteration. iv. Easements for the repair/maintenance of the Improvements are acknowledged and reserved as shown on the approved final utility plan. No structure, landscaping, planting, fill or other material shall be placed which may interfere with, impede, obstruct or change the direction of the water flow within the easements for the System, Project drainage areas, and utility easement areas, or which otherwise interferes with the use and maintenance of the Improvements. The repair/maintenance of all of the aforementioned easement areas shall be the responsibility of and enforced by Developer until formation of the Association, at which time the Association shall be responsible for the same and the Developer shall no longer be so responsible. v. In the event the Township determines that the Improvementsdetention/retention basins are not being properly repaired/maintained, the Township shall serve written notice upon the developer and/or the Associations, as appropriate, setting forth the manner in which they have failed to repair/maintain the Improvementsdetention/retention basins, in reasonable condition and order. Written notice required in this Development Agreement may be provided by mail, or by electronic means or facsimile with a hard copy by mail. The notice shall include a demand that deficiencies in the repair/maintenance be cured within fifteen (15) days. If the deficiencies set forth in the notice are not cured within said fifteen (15) day period, the Township may enter upon the Property to repair/maintain the Improvementsdetention/retention basins, and assess the cost of such repair/maintenance, including any related administrative expense including reasonable engineering fees and reasonable attorney feesagreement, to the owners extent reasonably necessary to verify the accuracy of the parcels within the Project. The Township will not take action to enter upon the Property and repair/maintain the Improvementsdetention/retention basins ifany statement, within the fifteen (15) days following the Township’s notice, the developer, the property owner(s) charge or the Association, as applicable, has taken appropriate steps to repair/maintain the Improvementsdetention/retention basins, and thereafter diligently pursues completion of the required repair/maintenance work. In the event the Township enters upon the Property to repair/maintain the Improvementsdetention/retention basins in accordance with this section, the Township may add to the actual cost of maintenance and repair a sum equal to twenty-five (25%) percent of the costs incurred by the Township in completing the same to cover the costs of servicing this Agreement. The Township may require the payment of such monies prior to commencement of the work. In any event, all maintenance assessments shall be due and payable upon receipt by the developer, the applicable property owner(s) or the Association, as applicable, of a written invoice for the same from the Township with appropriate supporting documentation. Any assessment not paid within thirty (30) days following the delivery of the invoice shall bear interest at the rate of one and one- half (1 ½%) percent per month until paid. If such costs and expenses have not been paid within thirty (30) days of a billing to the developer, the property owner(s) or the Association, as applicable, all unpaid amounts may be placed on the delinquent tax roll of the Township, as to the applicable component of that particular parcel of Property, and shall accrue interest at the rate of one and one-half (1 ½%) percent per month and penalties, and shall be collected as, and shall be deemed delinquent real property taxes, according to the laws computation made and provided for the collection of delinquent real property taxes. At the discretion of the Township, such costs and expenses may also be collected by suit initiated against Developer, the applicable property owner(s) or the Association and/or future owners, as applicable, and in the event the Township prevails in such suit, the Developer, the applicable property owner(s), Association and/or future owner shall pay all court costs and reasonable attorney fees incurred by the Township in connection with such suit. The Township shall also have the enforcement rights otherwise provided in applicable Township Ordinances and the Development Documents. This paragraph shall not be deleted or revised without the approval of the Townshiphereunder. vi. Should deficiencies in repair/maintenance of the Improvements be determined by the Township to constitute an impending and immediate danger to the health, safety and welfare of the public, the Township shall have the right to take immediate corrective action and summarily xxxxx such danger. The Township will make its best effort to communicate with the developer, the applicable property owner(s) or the Association, as applicable, by telephone at the number to be provided by Developer, the applicable property owner(s) and the Association before taking such action, but the Township will not be required to delay any action in the event of an impending and immediate danger if it is unable to make contact with Developer, the applicable property owner(s) or the Association, in which event the Township will provide notice of the action taken as soon as possible after the time of the action, and in any event no later than forty-eight (48) hours after taking such action. Should deficiencies in repair/maintenance of the Improvements be determined to be a public or private nuisance, the same may be abated pursuant to Township ordinances. vii. Any repair/maintenance assessments imposed by the Township shall be secured by a lien and encumbrance upon that portion of the Property with respect to which the assessment is made, and, if the assessments are not timely paid by the Developer, the applicable property owners, or the Association, as applicable, the liens may be enforced by the Township in the same manner as enforcement of liens for delinquent real property taxes.

Appears in 1 contract

Samples: Power Purchase Agreement

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