Common use of Reimbursement of Grants from TIF Bond Proceeds Clause in Contracts

Reimbursement of Grants from TIF Bond Proceeds. 1. In the event Redeveloper fails to substantially complete the Private Improvements as provided in Section 304 (Commencement and Completion Deadline for Private Improvements) above, Redeveloper agrees, subject to Article VIII (Remedies) below, to repay the City for any grant of funds to Redeveloper as provided for in Section 503 (Use of TIF Bond Proceeds) and Section 506.A (Grant of Funds from TIF Bond Proceeds) above. Upon such repayment of the Grant Funds, this Redevelopment Agreement shall be null and void in regards to Redeveloper’s obligation to construct the Private Improvements, subject to Section 901 (Remedies) below.

Reimbursement of Grants from TIF Bond Proceeds. 1. In the event Redeveloper fails to substantially complete the Private Improvements as provided in Section 304 204 (Commencement and Completion Deadline for Private Improvements) above, Redeveloper agrees, subject to Article VIII VII (Remedies) below, to repay the City for any grant of funds to Redeveloper as provided for in Section 503 403 (Use of TIF Bond Proceeds) and Section 506.A 406.A (Grant of Funds from TIF Bond Proceeds) above. Upon such repayment of the Grant Funds, this Redevelopment Agreement shall be null and void in regards to Redeveloper’s obligation to construct the Private Improvements, subject to Section 901 701 (Remedies) below.

Reimbursement of Grants from TIF Bond Proceeds. 1. In the event Redeveloper fails to substantially complete the Private Improvements as provided in Section 304 (Commencement and Completion Deadline for Private Improvements) above, Redeveloper agrees, subject to Article VIII (Remedies) below, to repay the City for any grant of funds to Redeveloper as provided for in Section 503 (Use of TIF Bond Proceeds) and Section 506.A (Grant of Funds from TIF Bond Proceeds) above. Upon such repayment of the Grant Funds, this Redevelopment Agreement shall be null and void in regards to Redeveloper’s obligation to construct the Private Improvements, subject to Section 901 Article VIII (Remedies) below.