Golf Course Improvement Project Clause Samples

Golf Course Improvement Project. If Course Owner has not commenced construction of the Course Improvements within one hundred fifty (150) days after Closing, then, at any time until Course Owner commences construction of the Course Improvements, City may elect, in addition to any other legal and equitable remedies available to City, to (A) require Course Owner to pay the Incurred Costs, and (B) terminate Course Owner’s right to receive Bond Proceeds for Project Costs and/or Excess TIF for Course Improvements.