DEVELOPMENT AGREEMENT BETWEEN THE CITY OF JOHNSTON AND HANSEN REAL ESTATE SERVICESJohnston Town Center • March 1st, 2019
The following sets forth the principal terms of the proposed Development Agreement (the “Development Agreement”) between the City of Johnston (“City”), and Hansen Real Estate Services, Inc. or an affiliate thereof (“Developer”) and related agreements relating to the development of Johnston Town Center as depicted on the preliminary site plan attached to this Term Sheet as Exhibit A (the “Site Plan”). This Term Sheet does not constitute a binding document or obligation with respect to any party (except for the obligation of City to reimburse certain costs as described in Section VII of this Term Sheet) and is subject to further negotiations between Developer and City and approval by their respective internal processes. The parties hereto agree to use their commercially reasonable efforts to negotiate and finalize the agreements described below. All capitalized terms not otherwise defined are used with the meanings set forth in Section VIII below.
