Examples of Development Agreement in a sentence
COUNTY OF KING ) On this day of , 2023, did personally appear before me, the undersigned Notary Public in and for the State of Washington, , who is known to me or produced satisfactory evidence that s/he is the person that executed the foregoing Development Agreement, and acknowledged that s/he signed the Agreement as his or her free and voluntary act for the uses and purposes mentioned therein.
Further, as provided in Sections 5.1, 5.3 and 11.1 of the Development Agreement or otherwise, the City’s obligations to make payments on this MRO may be suspended or terminated in the event Developer is in Default under any of the terms and conditions of the Development Agreement, provided payments may be resumed when any such Default is timely cured and any payments missed due to an uncured Default also shall be paid from Available Tax Increment upon timely cure of such Default.
Reference is hereby made to the Resolution and the Development Agreement for a more complete statement of the revenues from which and conditions and limitations under which this MRO is payable and the general covenants and provisions pursuant to which this MRO has been issued.
While both proposals met the minimum review criteria set forth in the RFP and would provide a similar number of residential lots, the staff consensus was to enter into negotiations with Xxxxxx/Xxxxx, L.L.C. as an initial step in preparing a Draft Development Agreement for City Council review.
This MRO is issued pursuant to the Resolution and pursuant to the terms and conditions of the Tax Incremental District Development Agreement dated as of May 20, 2024 by and between the City and Developer (the “Development Agreement”).