Laserfiche WebLink
• ~ <br />r <br />DISPOSiTION VALUE AND TERMS <br />The Developer and Committee will finalize the specific terms of the DDA during <br />the negotiation period, taking into consideration the proposal by the Developer and <br />commitments made in the Development Proposal. The following guidelines outline the <br />Committee's and Tri-Met's requirements related to the disposition value and terms for <br />the Howard's End project: <br />1. The Developer may create a joint venture or enter into other relationships <br />for the implementation of the Rroposed Development. <br />2. Tri-Met will retain ownership of the site until the Developer is ready to <br />begin construction. During the Negotiation Period, Committee and Developer will agree <br />to a specific schedule for development based on the schedule proposed by the <br />Developer in the Development Proposal. <br />3. The Committee will review and recommend approval of design plans at <br />each design phase based on consistency with the Finalized Building Concept negotiated <br />in the DDA. <br />4. The Good Faith Deposit submitted upon acceptance of the Developer's <br />Proposal will be credited towards the Security Deposit under the DDA to be held by the <br />Committee or by Tri-Met until completion of the Development. <br />5. The Committee reserves the right to specify within the DDA provisions for <br />liquidated damages or other remedies to assure completion of the Development <br />consistent with the terms of the DDA. <br />7. Tri-Met will convey the Parcel to the Developer in an "as is" condition. The <br />Developer will be responsible for the cost related to any further site preparation after <br />conveyance. It shall be the sole responsibility of the Developer to investigate and <br />determine the environmental and soil conditions within the Project site and the suitability <br />of such soil conditions for the improvements to be constructed by the Developer. <br />8. The Developer will be expected to pay all permit and processing fees <br />related to its development. <br />9. The Developer must provide a covenant required by the Federal Transit <br />Agency to maintain the property as transit oriented development for 30 years. <br />10. The transfer of the land will be by warranty deed subject to easements of <br />record, zoning and building restrictions, any matter showing on the preliminary title <br />report, a copy of which will be provided by Tri-Met prior to the time Developer is <br />expected to execute the Disposition and Development Agreement, and the requirement <br />.~ppendices Page 7Z <br />