Damage/Destruction. Until Developer has reimbursed the City for the Cash Grant in full, in the event of fire, damage, or any other casualty to any part of the Project, the Developer agrees, at its cost and expense, to rebuild, repair and replace the Project in the condition it was immediately prior to the casualty. The fair market value of the Project following reconstruction and/or repair must be greater than or equal to the fair market value of the Project immediately prior to the casualty.
Appears in 4 contracts
Samples: Tax Incremental, Tax Incremental Financing Successor, Tax Incremental Financing
Damage/Destruction. Until Developer has reimbursed the City for the Cash Grant Xxxxx in full, in the event of fire, damage, or any other casualty to any part of the Project, the Developer agrees, at its cost and expense, to rebuild, repair and replace the Project in the condition it was immediately prior to the casualty. The fair market value of the Project following reconstruction and/or repair must be greater than or equal to the fair market value of the Project immediately prior to the casualty.
Appears in 2 contracts
Samples: Tax Incremental Financing Successor Developer’s Performance Agreement, Tax Incremental Financing Developer’s Performance Agreement
