Execution and Recordation. (a) No development agreement shall be executed by the Mayor until it has been executed by the applicant. If the applicant has not executed the development agreement, as approved by the Town Council, within 30 days of the Town Council approval, the application for the development agreement shall be deemed withdrawn, and the Mayor shall not execute the development agreement.
Execution and Recordation. The City shall promptly execute this Agreement within thirty (30) days after the Effective Date following City Council approval. The City may execute the Agreement in counterparts as set forth in Section 15.5 herein. Within 10 days after the Agreement has been executed by the City, the City Clerk shall notify the Owner of such execution and provide Owner the Agreement for recordation. The Owner shall cause the recordation of such Agreement and provide the City with a confirmed copy within ten (10) business days following its recordation.
Execution and Recordation. The Parties will execute and record the City Easement and Public Use Agreement as set forth on the Schedule of Performance. Prior to recordation of the City Easement and Public Use Agreement, the Developer shall submit to the City Community Development Director evidence of debt and equity commitments sufficient to acquire the 220 Park Property and pay the full estimated cost, including reasonable contingencies, to construct the Project, including the Parking Garage and the Terrace Improvements, and to satisfy Developer’s financial obligations specified in this Agreement. In the event Developer identifies legal, financial, regulatory or other concerns arising from relying on an easement from City for the Parking Garage or Terrace Improvements which may prevent their development, City agrees in its reasonable discretion to cooperate with Developer to consider alternative means to provide such rights.
Execution and Recordation. Pursuant to California Government Code section 65868.5, within ten (10) days after the approval of the Enacting Ordinance, the County shall execute this Development Agreement and the Clerk of the Board shall record this Development Agreement with the Nevada County Recorder. Thereafter, if this Development Agreement is terminated, modified or amended pursuant to Article 6, Article 3 or Article 8 of this Development Agreement, the County Clerk shall record notice of such action with the Nevada County Recorder.
Execution and Recordation. Developer shall, concurrently with the execution of this Agreement, execute, acknowledge and record a deed of trust on the Property ensuring timely performance of the obligations set forth in this Agreement (“Deed of Trust”). The Deed of Trust shall be subordinated to the construction deed(s) of trust and/or permanent financing in favor of institutional lenders, as approved by the President and CEO of the Commission in his reasonable discretion. The subordination shall be upon such terms and conditions and for such periods of time as the President and CEO may approve to protect the provision of affordable housing as required by this Agreement. Commission shall reconvey the Deed of Trust following the expiration of the fifty-five (55) year term of this Agreement.
Execution and Recordation. Developer shall, concurrently with the execution of this Agreement, execute, acknowledge and record a deed of trust on the Property ensuring timely performance of the obligations set forth in this Agreement (“Deed of Trust”). The Deed of Trust shall be subordinated to the construction deed(s) of trust and/or permanent financing in favor of institutional Lenders, as approved by the City Manager in his/her reasonable discretion. The subordination shall be upon such terms and conditions and for such periods of time as the City Manager may approve to protect the provision of affordable housing as required by this Agreement. City shall reconvey the Deed of Trust following the expiration of the fifty-five (55) year term of this Agreement.
