Laserfiche WebLink
and assigns shall devote the Property to the uses specified in the Redevelopment Plan <br />for the remainder of its tern, for the periods of time specified therein, and the DDA <br />for the periods of time specified therein. Grantee shall comply with all terms of the <br />DDA, including, but not limited to, Section 4.05 of the DDA for the provision of <br />parking. Subject to the respective periods of time, the foregoing covenant shall run <br />with the land. <br />3. Prior satisfaction by Grantee of the conditions for recordation by Grantor, <br />as provided in the DDA, of a Certificate of Completion of construction, Grantee shall <br />not, except as permitted by the DDA, sell, transfer, convey, assign or lease the whole <br />or any part of the Property or the buildings or structures on the Property without the <br />prior approval of Grantor, which approval will not be unreasonably withheld by <br />Grantor. This prohibition shall not be deemed to prevent granting of easements or <br />permits to facilitate the development of the Property. <br />4. Prior to satisfaction of the conditions for issuance of a Certificate of <br />Completion, Grantor shall have the additional right, at its option, to reenter and take <br />possession of the Property with all improvements thereon, and revest in Grantor the <br />estate theretofore conveyed to Grantee if after conveyance of title and prior to <br />recordation of the Certificate of Completion, Grantee (or its successors in interest) <br />shall: <br />(a) Grantee does not attempt in good faith to procure in a timely <br />manner a building perinit or other approvals for the Improvements as defined in the <br />DDA or abandons any further attempts when there is a reasonable likelihood that <br />such permit or other approvals would otherwise be issued by the proper authority in <br />a timely manner and in substance satisfactory to Grantee in accordance with the <br />approved Construction Plans, as defined in the DDA; <br />(b) Grantee constructs or attempts to construct the Improvements in <br />material deviation from the latest approved Construction Plans; <br />(c) Absent an Enforced Delay as defined in Section 10.04 of the <br />DDA, Grantee fails to commence construction of the Improvements or to complete <br />same within the time limits set forth in the DDA; <br />(d) Absent an Enforced Delay as defined in Section 10.04 of the <br />DDA, Grantee abandons or suspends construction of the Improvements for a period <br />of sixty (60) days after written notice by Grantor given pursuant to the DDA; <br />Davis Street Grant Deed <br />1103 Davis Street <br />Page 2 <br />