Developer Covenants. Developer hereby covenants as follows:
Developer Covenants. 4.1 The Developer covenants on behalf of itself and its successors in title to perform and comply with the development consent obligation within Schedule 1 to this Deed.
Developer Covenants a. The Developer Covenants, and agrees that:
Developer Covenants. 3.01 The Developer agrees to following:
Developer Covenants. The Developer covenants and agrees as follows:
Developer Covenants. 15. In relation to the development and servicing of the Development Area, the Developer agrees:
Developer Covenants. 1. The Developer shall spend a minimum of ONE MILLION DOLLARS and 00/100 ($1,000,000) in private funds to renovate the Old Town Hall Property (the “Developer Investment”). The Developer represents and warrants that the Old Town Hall Building will be renovated to provide at least twelve (12) market-rate, residential apartments and other uses, if viable, as permissible by the Town’s zoning ordinance.
Developer Covenants. Developer hereby states that Developer will fulfill the following conditions which are requirements of OPMC Section 15.10.300:
Developer Covenants. Subject to the contribution of Owner’s Cost Allocation under this Agreement and the payment of funds that Owner is required to provide pursuant to the terms of this Agreement (including without limitation, in Section 6.03 hereof) and to any other obligations hereunder that Owner is to perform, Developer covenants to (i) perform its obligations hereunder in accordance with industry standards, in a professional manner consistent with the orderly and expeditious design, development and construction of infrastructure improvements in the metropolitan Northern Virginia area and in accordance with the terms of the Project Documents, (ii) take all steps usually and customarily taken by prudent and experienced developers seeking with due diligence to achieve the objective to which their particular effort pertains, (iii) devote as much time and resources as is necessary to manage the design, development and construction of the Infrastructure Improvements in accordance with the requirements of the Project Documents, and (iv) act at all times in good faith and in the best interests of Owner and the Infrastructure Improvements, seeking to minimize Project Costs and achieve Final Completion by the Final Completion Date subject to the terms and conditions of this Agreement.
Developer Covenants. The Developer covenants with the Council to observe and perform the covenants on its part contained in Schedule [1 and Schedule 2]. Council’s Covenants The Council covenants with the Developer that it will observe and perform the covenants on its part contained in Schedule 2 and Schedule 3. Release and Lapse The parties agree that the Developer shall not be liable for a breach of any of its obligations under this Agreement or obligations relating to any part of the Land, after it shall have parted with all of its interests in the Land or the part in respect of which the breach arises (as the case may be) other than in respect of any breach by it at the time when it held such an interest. It is further agreed that this Agreement shall lapse and be of no further effect if: the Permission shall expire without having been implemented; or the Permission shall be withdrawn, varied or revoked otherwise than with the consent of the Developer; or the Permission is quashed following a successful Legal Challenge; or the Inspector or Secretary of State dismisses the Appeal and (if applicable) such dismissal is later upheld following a statutory challenge or redetermination following a successful statutory challenge. Nothing in this Agreement shall prohibit or limit the right to develop any part of the Land in accordance with a planning permission (other than the Permission) granted (whether or not on appeal) before or after the date of this Agreement. Save where the context otherwise specifies nothing in this Agreement shall require the Developer to perform any obligation whatsoever in upon or under land outside the ownership of the Developer.
