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AG 1998 11 16
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AG 1998 11 16
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Last modified
3/25/2002 6:09:44 PM
Creation date
11/27/2017 11:52:51 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
11/16/1998
Board
Board of Commissioners
Meeting Type
Regular
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Exhibit 3 <br /> <br />III. <br /> <br />represents that there are (and shall be) adequate public utilities sufficient <br />and available to develop the Concord Marriott for its intended use. <br /> <br />Easements and Riqhts-of-Way. To the extent reasonably necessary, the <br />City may be required to use (subject to applicable legal constraints) its <br />powers of eminent domain or taking to acquire such rights-of-way and <br />easements as may be required or desirable in the City's reasonable <br />discretion. <br /> <br />MISCELLANEOUS PROVISIONS <br /> <br />A. Governing Law. This MOU and the legal relationship between the City, <br /> County and DeveloPer pursuant to this MOU shall be governed by and ' <br /> construed and enforced in accordance with the laws of the State of North <br /> Carolina. <br /> <br />Expenses. Whether or not the transactions contemplated by this MOU <br />shall be consummated, all fees av/d expenses incurred by any party hereto <br />in connection with entering into this MOU and the negotiations of the BA <br />shall be borne by such party, unless otherwise agreed to pursuant to the <br />BA. <br /> <br />Co <br /> <br />Counterparts. This MOU may be executed in counterparts, each of which <br />when so executed shall be deemed an original, and all of which, together, <br />shall constitute one and the same instrument. <br /> <br />Assignment. Developer shall not have the right, power or authority to <br />assign this MOU or any portion of this MOU or to delegate any duties or <br />obligations arising under this MOU, voluntarily, involuntarily, by <br />operation of law or otherwise, without the City's and County's consent. <br />Notwithstanding the foregoing, Developer shall have the ability to assign <br />this MOU and the benefits under this MOU to any Affiliate, or to any <br />lender providing financing for the development of the Concord Marriott, <br />with the City's and County's consent, which consent shall not be <br />unreasonably withheld, conditioned or delayed. <br /> <br />Confidentiality. The parties hereto agree that during the negotiation of the <br />BA, the parties shall endeavor in good faith and use their best efforts not <br />to disclose (without the consent of the other parties hereto) any material <br />aspect of the terms and conditions of the BA to any unrelated party unless <br />required by law. <br /> <br />Authority. The parties hereto have the full legal power and authority to <br />enter into and perform this MOU in accordance with its terms, and this <br />MOU constitutes the valid and binding obligation of the parties, <br />enforceable in accordance with its terms. <br /> <br />Filenam¢- S:\Plamfing\MOU-Marriotl,do¢ <br /> <br />-8- <br /> <br />Revised 09110/98 <br /> <br /> <br />
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