2010/08/04 Council Agenda Packet

"Certificate of Completion" means a certificate issued by the City to Developer pursuant to Section 7 of this Covenant. "Certificate of Stabilization" means a certificate issued by the City to Developer pursuant to Section 8 of this Covenant "City Notice of Completion" means the notice of completion delivered by the City pursuant to Section 4 of this Covenant. "City-Developer Agreements" include this Covenant, the Purchase Agreement, the Colby Avenue Easement as defined in the Purchase Agreement and recorded at the Closing, the City Parking Easement, the Tie-Back Easement as defined in the Purchase Agreement and recorded at the Closing, the Purchase Money Promissory Note, the Purchase Money Deed of Trust, and any other written agreement between the City and Developer regarding the Project or the Property. "City Parking_Easement" means the easement and covenant document executed by the City and Developer recorded at Closing and entitled "Closing" means the close of the sale of the Property pursuant to the Purchase Agreement, which is the same date as the Effective Date. "Contaminated Soil" means, as described in the Geotechnical Reports, contaminated soil and fill material that is material unacceptable for disposal at a clean fill disposal site. "Covenant Termination Date" is the date that is—( ) years after the date of recording of the Certificate of Completion. "EB-5 Deed of Trust" shall be as defined in the Purchase Agreement. "Ecology" means the Washington State Department of Ecology. "Effective Date" means the date set forth in the first paragraph of this Covenant. "Event(s) of Default" shall be as defined in Section 13 herein. "Financing Obligations" means the debt service obligations of Developer related to the financing of the Property and the Project. "Force Majeure" shall have the meaning given in Section 16.18 herein. "Geotechnical Reports" refers to the geotechnical and environmental reports regarding the Property by Associated Earth Sciences, Inc. commissioned by the City and/or Developer. "Governmental Authorities" means any court, board, bureau, commission, department or body of any local, municipal, county, state or federal governmental or quasi-governmental unit, or any subdivision thereof, or any public utility provider serving the Property, having, asserting, or acquiring jurisdiction over or providing utility service to the Project, the Property, and/or the management, operation, use, environmental cleanup,or improvement thereof. -2- 5108392J.1