Common use of City’s Obligations Clause in Contracts

City’s Obligations. Subject to the terms and conditions of this Agreement, the applicable City Body shall: (a) in connection with Company, jointly submit the Construction Phase Plat for final approval and recordation at or prior to Closing; (b) execute and perform (or cause the applicable City Bodies to execute and perform) the Ancillary Agreements; (c) at Closing, issue the TIF Bonds and, consistent with the Funding Agreement, make available the TIF Bond Proceeds for Approved Costs together with Closing Costs (thereafter, disbursement of Bond Proceeds shall not be made more frequently than monthly); (d) within thirty (30) days of the Closing Date, (i) issue the Additional Bond, and (ii) consistent with the Funding Agreement, make available the Additional Bond Proceeds for Approved Costs (disbursement of Additional Bond Proceeds shall not be made more frequently than monthly); (e) convey the City Parcel to the Company pursuant to the City Deed at Closing; (f) prior to Closing, create the Allocation Area and pledge the Pledged Increment to repayment of the TIF Bonds; (g) [intentionally omitted]; (h) provide all stormwater improvements necessary to allow the Project to connect into a stormwater system at one or more points in the right-of-way immediately adjacent to the Project Site so that no stormwater detention or stormwater quality infrastructure is required to be constructed on the Project Site; (i) provide reasonable assistance to Company in connection with any zoning changes or variances determined to be necessary or appropriate by Company for the construction and use of the Project in accordance with the Final Documents (subject to Permitted Changes and Change Orders); provided, however, City Bodies shall not be obligated to incur any expenses in connection with such assistance; and (j) exercise commercially reasonable efforts to cause the review and timely issuance of the City’s development and permit applications necessary to develop and construct the Project on the Project Site, including, whenever reasonably possible, coordinating with Company to lower the Project’s costs by supporting the issuance of interim, partial, and/or conditional approvals to allow project critical activities to occur while reserving final approval of less critical activities, to the extent allowed by the Laws; provided, however, City Bodies shall not be obligated to incur expenses related to such assistance.

City’s Obligations. Subject to Within 30 days of execution of the terms TPA by the Buyer and conditions of this AgreementSeller, the applicable City Body shall: (a) in connection with Company, jointly submit the Construction Phase Plat for final approval and recordation at or prior to Closing; (b) execute and perform (or cause the applicable City Bodies agrees to execute and perform) join this agreement (and this agreement would be terminable by either Buyer or Seller if not executed by City within said 30 days until such time as it is also executed by the Ancillary AgreementsCity); (c) at ClosingThe City has formally removed the Xxxxx-Xxxxxx Farm properties from the AC zoning amendment and agrees to retain the underlying R1 Zoning and not to further amend the underlying R1 zoning for the property. Within 30 days of execution of the TPA, issue the TIF Bonds and, City agrees to sponsor and adopt a version substantially consistent with the Funding Agreement, make available attached amendment to the TIF Bond Proceeds for Approved Costs together with Closing Costs OSRD (thereafter, disbursement of Bond Proceeds shall not be made more frequently than monthlysee Exhibit 2) - currently identified as the Colby–Xxxxxx Farm – Residential Overlay District (CBFROD); (d) within thirty (30) Within 60 days of the Closing Dateexecution of the TPA, the City agrees, contingent on approval of an OSRD-SP/DSP plan that is in substantial compliance with Exhibit 1, to coordinate with the Community Preservation Committee (iCPC) issue to obtain a vote from the Additional BondCPC requesting the Newburyport City Council raise and appropriate the sum of $200K toward the purchase of Lots 6 & 7. Within 120 days of filing of the OSRD-SP/ Definitive Subdivision Plan (DSP), the City agrees to release the Chapter 61A liens on all of Seller’s remaining land; The City agrees to support the Buyer in preparing an OSRD-SP/ DSP for approval from the Newburyport Planning Board and a Notice of Intent (NOI) to the Newburyport Conservation Commission; The City agrees to support the Buyer in providing two affordable housing units under the Inclusionary Zoning Ordinance; one unit as a single family structure and one unit as a dwelling unit within a two-family structure; The City agrees to limit the sewer betterment or privilege fee(s) to no more than $125,000; and, The City agrees to identify the protected and conveyed open space as the “Xxxxx-Xxxxxx Farm Conservation/ Recreational Area.” Buyer’s Obligations: Contingent on an OSRD-SP/DSP plan being approved in substantial compliance with Exhibit 1, and (ii) consistent with the Funding Agreement, make available the Additional Bond Proceeds for Approved Costs (disbursement of Additional Bond Proceeds shall not be made more frequently than monthly); (e) convey the City Parcel to the Company pursuant to the City Deed at Closing; (f) prior to Closing, create the Allocation Area and pledge the Pledged Increment to repayment of the TIF Bonds; (g) [intentionally omitted]; (h) provide all stormwater improvements necessary to allow the Project to connect into a stormwater system at one or more points in the right-of-way immediately adjacent to the Project Site so that no stormwater detention or stormwater quality infrastructure is required to be constructed on the Project Site; (i) provide reasonable assistance to Company in connection with any zoning changes or variances determined to be necessary or appropriate by Company for the construction and use of the Project in accordance with the Final Documents (subject to Permitted Changes and Change Orders); provided, however, City Bodies shall not be obligated to incur any expenses in connection with such assistance; and (j) exercise commercially reasonable efforts to cause the review and timely issuance of the City’s development contribution as stated above, the Buyer agrees to provide $300,000 toward the purchase of Lots 6 & 7; and The Buyer agrees, at its sole expense, to file within 90 days of execution of the TPA plans and permit applications required for an OSRD-SP/ DSP and the NOI and to diligently pursue all necessary to develop permits and construct the Project on the Project Site, including, whenever reasonably possible, coordinating with Company to lower the Project’s costs by supporting the issuance of interim, partial, and/or conditional approvals to allow project critical activities to occur while reserving final approval of less critical activities, to the extent allowed by the Laws; provided, however, City Bodies shall not be obligated to incur expenses related to such assistanceapprovals.

City’s Obligations. Subject to the terms and conditions of this AgreementSection 7, the applicable City Body City, Building Corp. or RDC, as applicable, shall: (a) in connection reasonably assist Developer with Company, jointly submit acquiring fee simple title to the Construction Phase Plat for final approval and recordation at or prior to ClosingRemnant Land; (b) execute and perform (or cause the applicable City Bodies thereto to execute and perform) the Ancillary Agreements; (c) at Closing, issue the TIF Bonds and, consistent in accordance with the Funding Agreement, terms and conditions of Exhibit M and make available the TIF Bond Proceed Portions to Developer within sixty (60) days after City’s receipt of a Bond Proceeds Notice pursuant to the Funding Agreement for Approved Costs together with Closing Costs the purposes set forth in this Agreement, provided that City has approved the Final Documents and Drawing for the Project Phase for which Developer is requesting a Bond Proceed Portion (thereafterif City has not yet approved the Final Documents and Drawings, disbursement the Bond Proceed Portion shall be disbursed to Developer immediately upon approval of Bond Proceeds shall not be made more frequently than monthlythe Final Documents); (d) within thirty (30) days of adopt by ordinance the Closing Date, (i) issue the Additional Bond, and (ii) consistent with the Funding Agreement, make available the Additional Bond Proceeds for Approved Costs (disbursement of Additional Bond Proceeds shall not be made more frequently than monthly)Site Specific PUD; (e) convey together with Developer, cause the City Parcel Right-of-Way to the Company pursuant be vacated prior to the City Deed at Closing; (f) prior to Closing, create the Allocation Area and pledge the Pledged Increment to repayment of the TIF Bonds; (g) [intentionally omitted]; (h) provide all stormwater improvements necessary to allow the Project to connect into a stormwater system at one or more points in the right-of-way immediately adjacent to the Project Site so that no stormwater detention or stormwater quality infrastructure is required to be constructed on the Project Site; (i) provide reasonable assistance to Company in connection with any zoning changes or variances determined to be necessary or appropriate by Company for the construction and use of the Project in accordance with the Final Documents (subject to Permitted Changes and Change Orders); provided, however, City Bodies shall not be obligated to incur any expenses in connection with such assistance; and (j) exercise commercially reasonable efforts to cause the review and timely issuance of issue the City’s development and permit applications necessary to develop the Project Site and construct the Project on the Project SiteProject, including, whenever reasonably possible, coordinating with Company the Developer to lower the Project’s Project costs by supporting the issuance of issuing interim, partial, and/or conditional approvals to allow project critical activities to occur while reserving final approval of less critical activitiesactivities (e.g., review and approval of the ILP and foundation release permits to allow overall site work and foundation installation for the buildings to be expedited and reserving for later review streetscape improvements and other improvements to be constructed later in the construction phasing) to the extent allowed by the Laws; provided, however, (g) complete the City Bodies shall not be obligated to incur expenses related to such assistanceImprovements; and (h) grant the City License.

City’s Obligations. Subject to the terms and conditions of this Agreement, the applicable City Body shall: (a) in connection with CompanyDeveloper, jointly submit the Construction Phase Plat for final approval and recordation at or prior to ClosingClosing for each Project; (b) execute and perform (or cause the applicable City Bodies to execute and perform) the Ancillary Agreements; (c) at Closing, issue the TIF Bonds and, consistent with the Funding Agreement, make available the TIF Bond Proceeds for Approved Costs together with and Closing Costs (at each Closing, and thereafter, disbursement of Bond Proceeds within thirty (30) days after a completed draw request is approved pursuant to the Funding Agreement (which requests shall not be made submitted more frequently than monthly); provided, however, the parties acknowledge and agree that Bonds for each of the Projects will not be issued until Closing for such Project; (d) within thirty (30) days of the Closing Date, (i) issue the Additional Bond, and (ii) consistent with the Funding Agreement, make available the Additional Bond Proceeds for Approved Costs (disbursement of Additional Bond Proceeds shall not be made more frequently than monthly); (e) convey the City Parcel prior to the Company pursuant to the City Deed at Closing; (f) prior to Union Closing, create the Allocation Area Areas and pledge the Pledged Increment to repayment of the TIF Bonds; provided, however, any such pledge shall be contingent on Closing for each of the Projects (gfor example and without limitation, the pledge of increment from the Crossing Allocation Area, shall be subject to Closing for the Crossing Project; provided further that upon the issuance of the Bonds for the Union Project in conjunction with the Closing of the Union Project, the City shall have pledged the increment from the Union Allocation Area and the Additional Crossing Allocation Area to the Bonds for the Union Project, with no contingency) (e) [intentionally omitted]; (h) provide all stormwater improvements necessary to allow the Project to connect into a stormwater system at one or more points in the right-of-way immediately adjacent to the Project Site so that no stormwater detention or stormwater quality infrastructure is required to be constructed on the Project Site; (if) provide reasonable assistance to Company Developer in connection with any zoning changes or variances determined to be necessary or appropriate by Company for the construction and use of the Project Projects in accordance with the Final Documents (subject to Permitted Changes and Change Orders)Drawings; provided, however, City Bodies shall not be obligated to incur any expenses in connection with such assistanceassistance and shall not be liable for the result of any rezone requests; (g) pay to Developer any Reimbursement Amount owed pursuant to Section 11; (h) own the Union Project Public Garage and contract for its operation by the Developer pursuant to a Revenue Procedure 2017-13 compliant management agreement; provided, however, any such agreement: (i) shall not require the City Bodies to pay or contribute to the cost of operation or maintenance of the Union Project Public Garage, and (ii) shall provide that all revenues generated by the Union Project Public Garage shall be utilized as determined by Developer; and (ji) exercise commercially reasonable efforts to cause the review and timely issuance of the City’s development and permit applications necessary to develop and construct the Project Projects on the Project SiteSites, including, whenever reasonably possible, coordinating with Company Developer to lower the Project’s Projects’ costs by supporting the issuance of interim, partial, and/or conditional approvals to allow project critical activities to occur while reserving final approval of less critical activities, to the extent allowed by the Laws; provided, however, City Bodies shall not be obligated to incur expenses related to such assistance.

City’s Obligations. Subject to the terms and conditions of this AgreementSection 7, the applicable City Body City, Building Corp. or RDC, as applicable, shall: (a) in connection reasonably assist Developer with Company, jointly submit acquiring fee simple title to the Construction Phase Plat for final approval and recordation at or prior to ClosingRemnant Land; (b) execute and perform (or cause the applicable City Bodies thereto to execute and perform) the Ancillary Agreements; (c) at Closing, issue the TIF Bonds and, consistent in accordance with the Funding Agreement, terms and conditions of Exhibit M and make available the TIF Bond Proceed Portions to Developer within sixty (60) days after City’s receipt of a Bond Proceeds Notice pursuant to the Funding Agreement for Approved Costs together with Closing Costs the purposes set forth in this Agreement, provided that City has approved the Final Documents and Drawing for the Project Phase for which Developer is requesting a Bond Proceed Portion (thereafterif City has not yet approved the Final Documents and Drawings, disbursement the Bond Proceed Portion shall be disbursed to Developer immediately upon approval of Bond Proceeds shall not be made more frequently than monthlythe Final Documents); (d) within thirty (30) days of adopt by ordinance the Closing Date, (i) issue the Additional Bond, and (ii) consistent with the Funding Agreement, make available the Additional Bond Proceeds for Approved Costs (disbursement of Additional Bond Proceeds shall not be made more frequently than monthly)Site Specific PUD; (e) convey together with Developer, cause the City Parcel Right-of-Way to the Company pursuant be vacated prior to the City Deed at Closing; and (f) prior to Closing, create the Allocation Area and pledge the Pledged Increment to repayment of the TIF Bonds; (g) [intentionally omitted]; (h) provide all stormwater improvements necessary to allow the Project to connect into a stormwater system at one or more points in the right-of-way immediately adjacent to the Project Site so that no stormwater detention or stormwater quality infrastructure is required to be constructed on the Project Site; (i) provide reasonable assistance to Company in connection with any zoning changes or variances determined to be necessary or appropriate by Company for the construction and use of the Project in accordance with the Final Documents (subject to Permitted Changes and Change Orders); provided, however, City Bodies shall not be obligated to incur any expenses in connection with such assistance; and (j) exercise commercially reasonable efforts to cause the review and timely issuance of issue the City’s development and permit applications necessary to develop the Project Site and construct the Project on the Project SiteProject, including, whenever reasonably possible, coordinating with Company the Developer to lower the Project’s Project costs by supporting the issuance of issuing interim, partial, and/or conditional approvals to allow project critical activities to occur while reserving final approval of less critical activitiesactivities (e.g., review and approval of the ILP and foundation release permits to allow overall site work and foundation installation for the buildings to be expedited and reserving for later review streetscape improvements and other improvements to be constructed later in the construction phasing) to the extent allowed by the Laws; provided, however, City Bodies shall not be obligated to incur expenses related to such assistance.

City’s Obligations. Subject to the terms and conditions of this AgreementSection 7, the applicable City Body City, CDC or RDC, as applicable, shall: : (a) in connection with CompanyDeveloper, jointly submit the Construction Phase Plat for final approval and recordation at or prior to Closingrecordation; (b) cause to be conveyed to Developer fee simple title to the Public Land; (c) accept fee simple title to the Garage Condominium Unit; (d) cause CDC to lease the Garage and Garage Condominium Unit to Developer and RDC pursuant to the Garage Lease; (e) execute and perform (or cause the applicable City Bodies thereto to execute and perform) the Ancillary Agreements; (cf) at Closing, issue the TIF Bonds and, consistent in accordance with the Funding Agreement, terms and conditions of Exhibit M and make available the TIF Bond Proceeds for Approved Costs together with Closing Costs to Developer pursuant to the Funding Agreement within twenty-one (thereafter, disbursement of Bond Proceeds shall not be made more frequently than monthly); (d) within thirty (3021) days of the Closing Date, (i) issue the Additional Bond, and (ii) consistent with the Funding Agreement, make available the Additional Bond Proceeds for Approved Costs (disbursement of Additional Bond Proceeds shall not be made more frequently than monthly); (e) convey the City Parcel to the Company pursuant to the City Deed at Closing; (f) prior to Closing, create for the Allocation Area and pledge the Pledged Increment to repayment of the TIF Bondspurposes set forth in this Agreement; (g) [intentionally omitted]; (h) provide all stormwater improvements necessary to allow the Project to connect into a stormwater system at one or more points in the right-of-way immediately adjacent to cause the Project Site so that no stormwater detention or stormwater quality infrastructure is required to be constructed on the Project Site; (i) provide reasonable assistance to Company in connection with any zoning changes or variances determined to be necessary or appropriate by Company zoned for the construction and use of the Project in accordance with the Final Documents Design Development Documents; (subject to Permitted Changes h) perform routine capital maintenance and Change Ordersrepair of the Garage, including without limitation providing signage and maintaining insurance and utilities (all as specifically set forth in the Declaration); provided, however, City Bodies shall not be obligated to incur any expenses in connection with such assistance; and (ji) exercise commercially reasonable efforts to cause the review and timely issuance of issue the City’s development and permit applications permits necessary to develop the Project Site and construct the Project on the Project SiteProject, including, whenever reasonably possible, coordinating with Company the Developer to lower the Project’s Project costs by supporting the issuance of issuing interim, partial, and/or conditional approvals to allow project critical activities to occur while reserving final approval of less critical activitiesactivities (e.g., review and approval of the ILP and foundation release permits to allow overall site work and foundation installation for the Garage to be expedited and reserving for later review streetscape improvements and other improvements to be constructed later in the construction phasing) to the extent allowed by the Laws; provided, however, City Bodies shall not be obligated to incur expenses related to such assistance.

City’s Obligations. Subject to the terms and conditions of this AgreementSection 7, the applicable City Body City, Building Corp. or RDC, as applicable, shall: (a) in connection with CompanyDeveloper, jointly submit the Construction Phase Plat for final approval and recordation at or prior to Closingrecordation; (b) cause to be conveyed to Developer fee simple title to the Public Land; (c) accept fee simple title to the Garage Parcel and Additional Parcel; (d) cause Building Corp. to lease the Garage and Garage Parcel to Developer and RDC pursuant to the Garage Lease; (e) execute and perform (or cause the applicable City Bodies thereto to execute and perform) the Ancillary Agreements; (cf) at Closing, cause to be conveyed to Developer the Garage Parcel upon expiration of the Lease Term; (g) issue the TIF Bonds and, consistent in accordance with the Funding Agreement, terms and conditions of Exhibit M and make available the TIF Bond Proceeds for Approved Costs together with Closing Costs to Developer pursuant to the Funding Agreement within seven (thereafter, disbursement of Bond Proceeds shall not be made more frequently than monthly); (d) within thirty (307) days of the Closing Date, (i) issue for the Additional Bond, and (ii) consistent with the Funding purposes set forth in this Agreement, make available the Additional Bond Proceeds for Approved Costs (disbursement of Additional Bond Proceeds shall not be made more frequently than monthly); (e) convey the City Parcel to the Company pursuant to the City Deed at Closing; (f) prior to Closing, create the Allocation Area and pledge the Pledged Increment to repayment of the TIF Bonds; (g) [intentionally omitted]; (h) provide all stormwater improvements necessary to allow make its proportionate share payments required by the Project to connect into a stormwater system at one or more points in the right-of-way immediately adjacent to the Project Site so that no stormwater detention or stormwater quality infrastructure is required to be constructed on the Project SiteDeclaration; (i) provide reasonable assistance to Company in connection with any zoning changes or variances determined cause the Project Site to be necessary or appropriate by Company zoned for the construction and use of the Project in accordance with the Final Documents Design Development Documents; (subject j) cause the City’s Garage Capital Reserve Fund to Permitted Changes be established pursuant to this Agreement and Change Orders)the Escrow Agreement; provided, however, City Bodies shall not be obligated (k) confirm that enough stormwater detention in the City’s stormwater detention system located below Xxxxx Xxxxxx xxx Xxxxx Xxxxxx exists to incur accommodate the Project's compliance with the Laws applicable to utilities and stormwater management without having to construct any expenses in connection with such assistancestormwater detention on the Project Site; and (jl) exercise commercially reasonable efforts to cause the review and timely issuance of issue the City’s development and permit applications necessary to develop the Project Site and construct the Project on the Project SiteProject, including, whenever reasonably possible, coordinating with Company the Developer to lower the Project’s Project costs by supporting the issuance of issuing interim, partial, and/or conditional approvals to allow project critical activities to occur while reserving final approval of less critical activitiesactivities (e.g., review and approval of the ILP and foundation release permits to allow overall site work and foundation installation for the Garage to be expedited and reserving for later review streetscape improvements and other improvements to be constructed later in the construction phasing) to the extent allowed by the Laws; provided, however, City Bodies shall not be obligated to incur expenses related to such assistance.