Community Facilities District. Without obtaining the prior written consent of Agent, Grantor shall not consent to, or vote in favor of, the inclusion of all or any part of the Property in any Community Facilities District formed pursuant to the Community Facilities District Act, §§ 48-701, et seq., as amended from time to time. Grantor shall immediately give notice to Agent of any notification or advice that Grantor may receive from any municipality or other third party of any intent or proposal to include all or any part of the Property in a Community Facilities District. Agent shall have the right to file a written objection to the inclusion of all or any part of the Property in a Community Facilities District, either in its own name or in the name of Grantor, and to appear at, and participate in, any hearing with respect to the formation of any such district.
Community Facilities District. Without obtaining the prior written consent of Lender, Borrower shall not consent to, or vote in favor of, the inclusion of all or any part of the Property in any Community Facilities District formed pursuant to the Community Facilities District Act, A.R.
Community Facilities District. Buyer acknowledges and agrees that Seller shall have the right to encumber the Property with a supplemental special tax related to a replacement and/or newly formed Community Facilities District (“CFD”); provided, however, (i) Buyer and Seller shall work together, in good faith, during the Inspection Period to understand the scope of the CFD and the associated tax burden on the Property; (ii) Buyer may terminate this Agreement at any time during the Inspection Period if Buyer does not approve of the CFD (or the associated tax burden), and (iii) following the expiration of the Inspection Period, no changes may be made to the CFD or the associated tax burden without Buyer’s consent.
Community Facilities District. Vertical Developer hereby acknowledges that the Property is and will continue to be subject to the lien of Special Taxes for community facilities districts (collectively, the “CFDs”), including: (i) the Redevelopment Agency of the City and County of San Francisco Community Facilities District No. 7 (Hunters Point Shipyard Phase One Improvements), as set forth in the Second Amended and Restated Notice of Special Tax Lien recorded in the Official Records of the City and County of San Francisco on September 15, 2008, as instrument number 2008I645982; and (ii) Redevelopment Agency of the City and County of San Francisco Community Facilities District No. 8 (Hunters Point Shipyard Phase One Maintenance), as set forth in the Notice of Special Tax Lien recorded in the Official Records of the City and County of San Francisco on September 15, 2008, as instrument number 2008I645983. Such CFDs were formed, and bonds have been and will be issued, to finance construction of certain infrastructure and other improvements, including Open Space, and to provide certain services, including maintenance of the Open Space. The Agency and Vertical Developer, as required, shall cooperate to provide the City, the Agency and the CFD administrator(s) with the information required by the CFDs to calculate and levy Special Taxes on the Property in any year. Vertical Developer shall not, at any time, contest, protest, or otherwise challenge the formation of the CFDs or the issuance of additional bonds or other financing secured by Special Taxes.
Community Facilities District. The City intends to form a community facilities district over the Property or to annex the Property into an existing community facilities district (the “CFD”) to pay for the costs of certain infrastructure and municipal services. The Owner agrees to provide commercially reasonable cooperation to City at all times in connection with the formation or annexation to the CFD and not to oppose a determination or other action by the City to form the CFD or to annex the Property into an existing CFD, including a determination to subject all or any portion of the Property and the improvements thereon to such CFD in compliance with the terms of this paragraph. Provided that as of the date of issuance of the first certificate of occupancy for a building on the Property: (a) the City has facilitated or approved all steps required for such formation or annexation, (b) the City has formed the CFD or annexed the Property into an existing CFD, (c) the formation or annexation is finally approved and not subject to challenge or litigation then formation of or annexation to the CFD shall be a condition precedent to the issuance of the first certificate of occupancy on the Property. Special taxes in the CFD shall be levied on all parcels of property subject to a certificate of occupancy at a rate of $0.05 per square foot of building square footage annually which special tax shall escalate at a rate of two percent (2%) annually. The CFD special tax shall have a term of not less than 50 years. The costs of formation of the CFD shall be paid by the Owner and shall be reimbursed to the Owner from the Bond proceeds, if any, received by the City. If the CFD elects to issue bonds secured by the special taxes, the Owner agrees to cooperate with the CFD in the issuance of such bonds, including but not limited to providing any information related to the Owner, the Property and the Owner’s development, sales, leasing and financing plans necessary to comply with federal securities laws and to enter into a written agreement to provide annual or semi-annual continuing disclosure to owners of the bonds if determined by the CFD to be necessary in connection with the issuance of such bonds.
Community Facilities District. Without obtaining the prior written consent of Lender, SPTMRT shall not consent to, or vote in favor of, the inclusion of all or any part of the Property in any Community Facilities District formed pursuant to the Community Facilities District Act, A.R.
Community Facilities District. Without obtaining the prior written consent of Beneficiary, Grantor shall not consent to, or vote in favor of, the inclusion of all or any part of the Property in any Community Facilities District formed pursuant to the Community Facilities District Act, Arizona Revised Statutes § 48-701 et. seq., as amended from time to time. Grantor shall immediately give notice to Beneficiary of any notification or advice that Grantor may receive from any municipality or other third party of any intent or proposal to include all or any part of the Property in a Community Facilities District. Beneficiary shall have the right to file a written objection to the inclusion of all or any part of the Property in a Community Facilities District, either in its own name or in the name of Grantor, and to appear at, and participate in, any hearing with respect to the formation of any such district.
Community Facilities District. The City acknowledges that the Infrastructure CFD as provided at Section 6.3.1 below may be an important funding component for the construction of the anticipated elementary school as described in the memorandum of understanding between the Landowner and District.
Community Facilities District. Tenant acknowledges that Landlord has, or intends to, include all of the Premises in a community facilities district (the “Community Facilities District”) formed, or to be formed, by the City pursuant to the Xxxxx-Xxxx Community Facilities Act of 1982, as amended, to finance various public services which include operation, maintenance, repair, and replacement of public infrastructure on the Gateway Development Area (“Services”) through an annual special tax (“Special Tax”) levied on assessor’s parcels in such area. The Special Tax will be levied to pay for the Services and for the costs incurred by the City (or any successor entity) of forming and administering the Community Facilities District. Pursuant to Government Code Section 53340.1, Tenant shall be responsible for payment of the Special Tax. Tenant will cooperate with the City in connection with the Community Facilities District including, but not limited to: (i) executing any document reasonably required by the City in connection with formation of the Community Facilities District; and (ii) not interfering with or challenging the City’s formation of the Community Facilities District or the levy of the Special Tax.
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