EMINENT DOMAIN PROCEEDING. In the event that during the term of this Agreement, the Property is acquired in whole or in party by eminent domain or other acquisition by any entity authorized to exercise the power of eminent domain, and the acquisition is determined by the City Council to frustrate the purpose of this Agreement, the Agreement shall be canceled and no fee shall be imposed pursuant to Paragraph 12 hereof. In such event, this Agreement shall be deemed null and void for all purposes of determining the value of the Property so acquired. If subsequent to the filing of an action in eminent domain, the proposed condemnation is abandoned by the condemning agency as to all or a portion of the Property subject to the Agreement, the restriction of the use of the Property included in this Agreement shall, without further agreement of the parties, be reinstituted and the terms of this Agreement shall be in full force and effect.
Appears in 8 contracts
Samples: Mills Act Agreement, Mills Act Agreement, Mills Act Agreement
