Transfer of Development Property. In the event that prior to the Termination Date, the Developer transfers its interest in the Development Property or Minimum Improvements to a non-related entity without the City’s prior written consent, which consent will not be unreasonably withheld or delayed, or substantially ceases its operations on the Development Property on a permanent basis, the City shall have the right to terminate its obligation to make any future payments of the City Assistance to the Developer. The Developer shall be deemed to have ceased its operations on a permanent basis if such operations cease for a continuous 12 month period and such failure to operate is not due or related to a remodeling or repair of the Development or an event out of Developer’s control.
Transfer of Development Property. For the purchase price of Fifty Thousand Dollars ($50,000.00) (the “Purchase Price”) and other consideration, including the obligations being assumed by the Developer under this Agreement, the City agrees to sell, and the Developer agrees to purchase, the Development Property, subject to easements and appurtenant servient estates and any zoning and other ordinances. Such transfer shall occur under the terms and conditions of this Agreement and following all process required by the City pursuant to Section 403.8 of the Iowa Code.
Transfer of Development Property. For Seven Hundred Thousand Dollars ($700,000) and other consideration including the obligations being assumed by the Developer hereunder and in furtherance of the Urban Renewal Plan and the Urban Renewal Act, the City agrees to sell, and the Developer agrees to purchase, the Development Property, together with all improvements thereon, subject to easements and appurtenant servient estates and any zoning and other ordinances. Such transfer shall occur under the terms and conditions of this Agreement and following all process required by the City pursuant to Section 403.8 of the Code.
Transfer of Development Property. For and in consideration of the obligations being assumed by the Developer hereunder and in furtherance of the Urban Renewal Plan, the City agrees to sell, and the Developer agrees to purchase, the Development Property, together with all improvements thereon, subject to the Permitted Encumbrances. Such transfer shall occur under the terms and conditions of this Agreement and following all process required by the City pursuant to Section 403.8 of the Iowa Code.
