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Riverfront Commercial Investment LLC 12/23/2019
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Riverfront Commercial Investment LLC 12/23/2019
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Last modified
2/4/2020 11:10:45 AM
Creation date
2/4/2020 11:10:17 AM
Metadata
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Template:
Contracts
Contractor's Name
Riverfront Commercial Investment LLC
Approval Date
12/23/2019
Department
Facilities
Department Project Manager
Mike Palacios
Subject / Project Title
Riverfront Development
Tracking Number
0002200
Total Compensation
$0.00
Contract Type
Real Property
Retention Period
10 Years Then Transfer to State Archivist
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7. Affiliated Developer Entity. By signing this Assignment Agreement, (1) <br /> Developer warrants that each Assignee is Affiliated Developer Entity, as such term is <br /> defined in the ARPDA and (2) each Assignee warrants that it is an Affiliated Developer <br /> Entity, as such term is defined in the ARPDA. <br /> 8. No Developer Release. The assignments and assumptions under this <br /> Assignment Agreement do not operate to release Developer from any obligations or <br /> liabilities under ARPDA or the LEIA. For example, Developer remains obligated as set <br /> forth in the ARPDA to construct the Main Road and to construct certain park <br /> improvements. <br /> 10. Intentionally Omitted. <br /> Consent Decree <br /> 11. Compliance with Consent Decree. In order to provide for the continued <br /> operation, maintenance and monitoring of the clean-up action undertaken pursuant to the <br /> Consent Decree, all parties hereto (including each Assignee) acknowledge that they shall <br /> comply with the Consent Decree. . <br /> Development Agreement <br /> 12. Development Agreement Obligations. As stated in Development <br /> Agreement Section 13.2, the Development Agreement "shall run with the land as binding <br /> on the parties and their successors-in-interests and assigns . . . ." Accordingly, each <br /> Assignee upon receiving conveyance of a portion of Developer Property is bound to the <br /> Development Agreement as to that portion of Developer Property. The conveyances to <br /> Assignees of Developer Property do not operate to release Developer from any obligation <br /> under the Development Agreement. For example, Developer remains obligated to <br /> construct certain 36th Street improvements, park improvements, and Main Road <br /> landscaping improvements, all as set forth in the Development Agreement. <br /> 4 <br />
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