Completion and Sale of the Project Sample Clauses

Completion and Sale of the Project. The Authority hereby agrees to cause the Project and any additions or modifications thereto to be constructed, acquired and installed by the City as its agent, and hereby appoints the City to act on its behalf as its agent hereunder. The City agrees to transfer whatever real or personal property interest it may possess which may be required in order for the Authority to effect the Project. The City hereby agrees to enter into such engineering, design, construction, and other professional contracts and purchase orders as may be necessary, as agent for the Authority, to provide for the construction and completion of the Project in accordance with all applicable laws. The City hereby agrees that as such agent it will cause the Project to be diligently completed after the deposit of funds in the Project Fund for such purpose pursuant to Section 2.11 of the Trust Agreement, and that it will use its best efforts to complete the Project by [ ], except for unforeseeable delays beyond the reasonable control of the City. The Authority hereby agrees to sell, and hereby sells, the Project to the City. The City hereby agrees to purchase, and hereby purchases, the Project from the Authority. Notwithstanding the foregoing, it is hereby expressly understood and agreed that the Authority shall be under no liability of any kind or character whatsoever for the payment of any costs or expenses incurred by the City (whether as agent for the Authority or otherwise) for the completion of the Project and that all such costs and expenses shall be paid by the City, regardless of whether the funds deposited in the Project Fund are sufficient to cover all such costs.