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043-01 Ordinance RECORD OF ORDINANCES Dayton Legal Blank Co. Form No 0043 Ordinance No..........43-01 Passed AN ORDINANCE APPROVING AND AUTHORIZING THE CITY MANAGER AND DIRECTOR OF FINANCE TO EXECUTE AN INFRASTRUCTURE AGREEMENT WITH MULTICON DEVELOPMENT CO., WAIVING RELATED COMPETITIVE BIDDING REQUIREMENTS, AND DECLARING AN EMERGENCY. WHEREAS, the City is desirous of encouraging and promoting development within the City of open space, parkland and public recreation facilities, all generally designed to improve the quality of life of residents of the City; and WHEREAS, in connection with the proposed development of certain property in the southwestern portion of the City (the "Property"), the City and Edwards Golf Communities LLC ("Edwards") previously entered into a Development Agreement dated August 14, 2000 (the "Development Agreement") in connection with that development; and WHEREAS, that Development Agreement provided that the City would cause to be constructed certain public infrastructure improvements (the "Infrastructure Improvements") in connection with that proposed development; and WHEREAS, this Council has further found that the provision of the public infrastructure improvements would best be undertaken by entering into an agreement (the "Infrastructure Agreement") with a private entity for the construction of the public infrastructure improvements; and WHEREAS, this Council finds that it is in the best interest of the City to enter into that Infrastructure Agreement with Multicon Development Co. ("Multicon") to provide for the construction of the Infrastructure Improvements and has determined to provide for the execution and delivery of that Infrastructure Agreement with Multicon; and NOW THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, Ohio, of the elected members concurring, that: Section 1. The Infrastructure Agreement by and between the City and Multicon, in the form presently on file with the Clerk of Council, providing for, among other things, the construction of the Infrastructure Improvements, is hereby approved and authorized with changes therein not inconsistent with this Ordinance and not substantially adverse to this City and which shall be approved by the City Manager and Director of Finance. The City Manager and Director of Finance, for and in the name of this City, are hereby authorized to execute that Infrastructure Agreement, and the approval of changes thereto by those officials, and their character as not being substantially adverse to the City, shall be evidenced conclusively by their execution thereof. This Council further authorizes the City Manager and the Director of Finance, for and in the name of the City, to execute any amendments to the Infrastructure Agreement, which amendments are not inconsistent with this Ordinance and not substantially adverse to this City. Section 2. This Council finds and determines that it is in the best interest of the City to waive any competitive bidding requirement with respect to entering into and implementing the Infrastructure Agreement, and directs that those requirements be so waived as permitted by Section 8.04 of the City's Charter. Section 3. This Council further hereby authorizes and directs the City Manager, the Clerk of Council, the Director of Law, the Director of Finance, or other appropriate officers of the City to prepare and sign all agreements and instruments and to take any other actions as maybe appropriate to implement this Ordinance. Section 4. This Council further hereby finds and determines that all formal actions of this Council concerning and relating to the passage of this Ordinance were taken in an open I RECORD OF ORDINANCES Dayton Legal Blank Co. Form No. 30043 Ordinance No .................43-0.1.................................. Passed .....................................................Page 2...................... meeting of this Council and that all deliberations of this Council that resulted in those formal actions were in meetings open to the public in compliance with the law. . Section 5. This Ordinance is declared to be an emergency measure necessary for the immediate preservation of the public peace, health, safety and welfare of the City, and for the further reason that this Ordinance is required to be immediately effective in order to proceed with the execution and delivery of the Infrastructure Agreement, which is necessary to timely begin construction and completion of the Infrastructure Improvements in compliance with the City's commitments under the Development Agreement to protect the public health and safety by providing for the timely construction of roads and sewer and water lines; wherefore, this Ordinance shall be in full force and effect immediately upon its passage. Sign ' yor -Presiding Officer Attest: ~'S 1 ~ / . Clerk of Council s Passed: " ~ / , 2001 Effective: , 2001 4,~.-" w r.. 1 hereby ce°tify that copies of this Ordnance/Resolution were posted in ihp City of Dublin in accordance with Section 731.25 of the hhio Revised Code. a~ Cler f Council, Dublin. Ohio i DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT (the "Agreement") is made and entered into this 14th day of August, 2000, by and between the CITY OF DUBLIN, OHIO (the "City"), a municipal corporation duly organized and validly existing under the Constitution and the laws of the State of Ohio (the "State") and its Charter, and EDWARDS GOLF COMMUNITIES LLC ("Edwards", and collectively with the City, ""~n the "Parties") an Ohio limited liability company having its principal office in Columbus, Ohio, under the circumstances summarized in the following recitals. RECITALS: WHEREAS, the City is desirous of encouraging and promoting development within the City of open space, parkland, public recreation facilities and adequate transportation infrastructure, and one of the strategies to be pursued by the City, particularly with respect to the development of the southwestern sector of the City, is to encourage cohesive developments that incorporate landscaped public plazas, water features and outdoor pedestrian areas, all generally designed to improve the quality of life of residents of the City; and WHEREAS, Edwards is the contract vendee or is negotiating to purchase approximately 635.07 acres within the corporate boundaries of the City (as such property is generally depicted on Exhibit A and referred to herein as the "Property") for development, in part, as a proposed high quality residential community development; and WHEREAS, in connection with the proposed development of the Property, the City and Edwards previously entered in a Memorandum of Understanding dated March 22, 2000 (the "Memorandum") which generally provided for that development, including a commitment by Edwards to transfer a portion of the Property to the City to provide for the construction of a publicly owned golf course; and WHEREAS, that Memorandum also provided that the City and Edwards would undertake further investigation and study to identify the public infrastructure improvements required to facilitate that proposed development and related public park improvements as may be required by the City and once identified, to provide for the construction and development of those public infrastructure and public park improvements; and WHEREAS, the Council has found that the City and generally all of its residents, and particularly those in the southwestern sector of the City where the Property is located, will benefit from a publicly owned golf course, public park, and other improvements to be made to the Property, including improvements to the streets and roadways in the Property, all as contemplated in the Memorandum and this Agreement; and WHEREAS, the Council has further found that the development contemplated by the Memorandum and this Agreement, due to the large amount of green space and provision for a public golf course, the tremendous impact to improve residential quality of life in the southwest area, the wide and spacious views around the golf course, and many other scenic amenities, sets a standard that exceeds any previously outlined either in Ordinance No. 95-96 passed October 5, 1998 (the "Tree Preservation Ordinance") or pending development ordinances, and due to the large amount of land that will result in the City owning a public golf course and other park areas, the open space requirement for the development of 73.751 acres is exceeded; and WHEREAS, pursuant to Ordinance No. 50-00 passed on August 14, 2000, the City approved the rezoning plan for the Property, dated July 7, 2000 (the "Development Text"); and WHEREAS, pursuant to Ordinance No. 105-00 passed on August 14, 2000 (the "Ordinance"), the City Council has authorized the execution of this Agreement and to undertake the City's obligations set forth herein; and WHEREAS, the Parties have determined to enter into this Agreement to provide for the development of the Property within the City, all in accordance with the Development Text; NOW THEREFORE, for good and valuable consideration, the receipt and legal sufficiency of which are hereby acknowledged, the Parties covenant, agree and obligate themselves as follows: Section 1. General Matters Relating to Property Development. (a) General Development. The Parties have entered into this Agreement to develop, or cause to be developed, the Property as portrayed on Exhibit A. (b) Zoning of the Property. The Parties acknowledge and agree that the Development Text for the Property was approved effective August 14, 2000 as follows: (1) Planned Commerce District. The portion of the Property designated for use as the golf club house, driving range and maintenance facility (as such area is portrayed on Exhibit B) has been rezoned Planned Commerce District in accordance with Section 153.058 of the City's Codified Ordinances. The approved zoning permit incorporated the conceptual site plan set forth , on Exhibit A attached hereto. Such rezoning shall permit the construction and operation of the golf club house, driving range and maintenance facility and other ancillary uses. Y (2) Planned Low Density Residential District. All other property shown on Exhibit B has been rezoned "Planned Low Density Residential District" in accordance with Section 153.051 of the City's Codified Ordinances. The final zoning for the Property will permit Edwards to construct a residential development and the City to construct the public golf course as portrayed in the conceptual site plan on Exhibit A. (3) Condominiums and Cluster Homes. The Parties acknowledge that the approved Development Text provides for the construction in the aggregate of 322 condominium units and 99 cluster homes in the areas depicted on Exhibit A. Edwards agrees that a second level of review and approval as noted in the Development Text will be required as a condition precedent to the construction of those proposed condominiums and cluster homes. However, the Parties acknowledge and further agree that the additional review will in no way require Edwards to reduce the number of condominium units or cluster homes unless such reduction is agreed to by -2- Edwards. The City agrees that the secondary review will be undertaken by the City Planning Commission within a reasonable period of time and shall not require the dedication of any additional land for park purposes other than which is already provided for herein or in the Development Text. (4) Extension of Certain Streets. The Parties agree that the City shall not require Edwards to extend streets from Kendall Ridge or Cramer Crossing into the Property. ' (5) Diversity and Architectural Materials. The Parties agree that the diversity and architectural materials standards which Edwards shall be required to follow in connection with the development of the Residential Community Development (as defined below) are set forth in the Development Text. (6) Other. The Parties agree that the Tree Preservation Ordinance, and City Ordinance No. 24-00 currently pending before Council, will not apply to the Property. (c) Maintenance Facility. The Parties acknowledge that the City owns a 17.7f acre tract of land abutting the east side of the Property, south of Shier-Rings Road, which the City may use as a maintenance facility (the "Maintenance Facility"). The Parties agree to work together to develop a screening plan for the Maintenance Facility which shall be agreed upon by the Parties, prior to the construction of the Maintenance Facility, and implemented by the City prior to the occupancy of that Maintenance Facility. The Parties further agree that Edwards shall not be required to pay any expense related to the implementation of that screening plan. (d) Timin og f Property Development. The Parties acknowledge that their respective, mutual cooperation and coordination will be necessary to complete the timely development of the Property in accordance with the terms of this Agreement. Accordingly, the Parties agree that the provisions of this agreement related to timing may be amended from time to time with the mutual consent of the Parties to provide for the efficient, coordinated completion of the development of the Properly. Section 2. Property Acquisition and Development. (a) Property Acquisition. Edwards agrees to acquire: (1) the Golf Course Parcels (as defined below), and (2) such other portions of the Property determined by the City and Edwards to be reasonably necessary to provide for: (A) the construction of the Golf Course Development (as defined below) in accordance with Section 2(b)(3), and (B) the construction of the Woerner Temple/Eiterman Improvements (as defined below) in accordance with Section 4(c), all with reasonable dispatch but in no event no later than October 1 2000. -3- (b) Golf Course Development. (1) General City Agreement. In furtherance of the City's policies of encouraging and promoting open space, parkland and public recreation facilities within the City for use by the City's residents and the controlled growth of City industry and commerce, the City agrees that it will construct and operate, or cause to be constructed and operated, a first class, eighteen-hole, golf course open to the public, including a club house facility, practice facilities, related parking and other public amenities (as such area is portrayed on Exhibit A and referred to herein as the "Golf Course Development"), on the Golf Course Parcels (defined below) in accordance with this Agreement. The Parties agree that the City's obligation to construct and operate, or cause the construction and operation, of the Golf Course Development is subject to Edwards transferring the Golf Course Parcels to the City in accordance with this Agreement. The Parties further agree that the City shall, to satisfy its obligation hereunder to construct and operate the Golf Course Development, either: (A) enter into an agreement with a private entity to provide for the financing, construction, management and operation of the Golf Course Development, or (B) alternatively and solely at the City's option, provide for the financing, construction, management and operation of the Golf Course Development in such manner as the City shall deem appropriate. (2) Transfer of Required Parcels to City. By such time as is mutually agreeable to the Parties but not later than December 31, 2000, Edwards shall transfer or cause to be transferred to the City 209.761 acres of the Property required for the Golf Course Development (as those parcels are portrayed on Exhibit C and referred to herein as the "Golf Course Parcels"). With respect to the transfer of the Golf Course Parcels, the Parties further agree as follows: rc (A) Deed. Edwards shall transfer unencumbered fee simple title in the Golf Course Parcels to the City by one or more warranty deeds (collectively, the "Deed'). The ~ City shall promptly record the Deed with the Recorder of Franklin County, Ohio for recordation in the Deed Records. The City shall pay all costs of recording the Deed. Edwards shall pay any transfer fees. (B) Title Insurance. Edwards shall furnish and pay for an owner's title insurance commitment and policy in the amount of $7,000,000 or such other amount as is mutually agreeable to the Parties. The title evidence shall be certified to within 30 days prior to closing with endorsement as of 8:00 a.m. on the business day prior to the date of closing, all in accordance with the standards of the Columbus Bar Association, and shall show in Edwards marketable title in fee simple free and clear of all liens and encumbrances except : (i) those created by or assumed by the City; (ii) those specifically set forth in this Agreement; (iii) zoning ordinances; (iv) legal highways; and (v) covenants, restrictions, conditions and easements of record which do not unreasonably interfere with the City's intended use as the Golf Course Development. -4- If title to all or part of the Golf Course Parcels is unmarketable, as determined by Ohio law with reference to the Ohio State Bar Association's Standards of Title Examination, or is subject to liens, encumbrances, easements, conditions, restrictions or encroachments other than those excepted in this Agreement, Edwards shall within (30) days after written notice thereof, remedy or remove any such defect, lien, encumbrance, easement, condition, restriction or encroachment or obtain title insurance without exception therefore. At closing, Edwards shall sign an affidavit with respect to off-record title matters in accordance with the community custom. ~ (C) Taxes. The real estate taxes, if any, for the tax year in which the Deed is delivered shall be apportioned between the City and Edwards as of the date of delivery of the Deed on a calendar year basis. If the amount of such taxes is not ascertainable on such date, the apportionment between the City and Edwards shall be on the basis of the amount representing the total year's tax allocable to the Golf Course Parcels by multiplying the valuation of the Golf Course Parcels as they appear on the last available County Treasurer's tax duplicate by the most recent tax date, but such apportionment shall be subject to final adjustment within thirty (30) days after the date of the actual amount of such taxes is ascertained. Real estate taxes for the tax years previous to the tax year in which such Deed is delivered, if any, will be paid by Edwards. If separate permanent parcel numbers do not exist for each of the Golf Course Parcels, then the taxes allocable to the Golf Course Parcels shall be apportioned among the separate Golf Course Parcels on a pro-rata basis based upon the relative area of each Golf Course Parcel. (D) Purchase Price. Upon completion of construction of the Golf Course Development or July 1, 2002, whichever occurs earlier, the City shall remit to Edwards an amount of $1,500,000, which amount shall represent the purchase price for the Golf Course Parcels. The Parties acknowledge that the current market value of the Golf Course Parcels is estimated at $7,100,000. The Parties agree that the difference between the estimated current market value and the actual purchase price paid by the City will constitute a gift from Edwards to the City. (E) Recoupment. The City agrees that, upon the conveyance to the City of the Golf Course Parcels, it will promptly file with the Franklin County Auditor any necessary documentation to defer the recoupment of real property taxes on the Golf Course Parcels; provided, however, the Parties acknowledge that the Franklin County Auditor shall in its sole discretion determine whether such deferral will be approved. (3) Construction and Operation of Golf Course Development. Once the Golf Course Parcels are transferred to the City, the City agrees that it will provide for the diligent construction of the Golf Course Development. Edwards agrees to grant to the City any and all reasonably necessary access easements to the Golf Course Parcels over any part of the Property owned or controlled by Edwards necessary to enable the City to perform and complete the construction of the Golf Course Development. Edwards shall not be responsible for obtaining access for the City to the Golf Course Parcels over any property which is not owned or controlled by Edwards. The Parties agree that the design of the club house facility and the name of the Golf Course -5- Development will be approved by the City, after consultation with Edwards. The City agrees to use its best efforts to complete the Golf Course Development no later than July 1, 2002. Finally, the Parties acknowledge and agree that the design, construction, management and operation of the Golf Course Development, including the use of any related practice facilities, will be within the sole discretion of the City and any construction, management and operation firms which may be retained by the City from time to time; provided, however, the City agrees that it will reasonably consider any input from Edwards with respect to such design, construction, management and operation as the same may affect the Residential Community Development and the City shall not make any change to the Golf Course Development that would adversely affect the Residential Community Development without Edwards' prior written consent. (c) Residential Community Development. (1) Generally. Edwards agrees that it will use its best efforts to construct, or cause to be constructed, on the Property a high quality residential community development in those areas as depicted on Exhibit A (the "Residential Community Development"). Edwards agrees that it shall have the first phase of the Residential Community Development completed and model homes open for public viewing no later than July 1, 2002. (2) Construction. In accordance with the Development Text and Section 1(b)(3) of this Agreement, the City shall allow the construction of homes, cluster homes and condominiums to commence before roadways are in place within the Property, provided that an acceptable haul road is available to provide for that construction. The Parties agree that lots, homes, cluster homes and condominiums may be sold at any time, but such homes, cluster homes and condominiums shall not be occupied until roadways are in place and accepted by the City. (3) Indemnification. Edwards acknowledges that the City, pursuant to this Agreement, is permitting Edwards to undertake construction of homes, condominium units and cluster homes within the Property prior to the completion of all necessary roadway improvements and that the provision of certain public safety services, including but not limited to fire and police services, by the City to the Property may be impaired due to the lack of those necessary roadways. Edwards agrees that it will assume that risk during such period prior to the completion of all necessary roadways and Edwards further agrees to indemnify the City against any and all liabilities, claims, costs, suits, demands, actions, damages, judgments, fines, losses and expenses (including without limitation, to the extent permitted by law, reasonable attorneys' fees and expenses), imposed upon or asserted against the City, without negligence or bad faith on the part of the City as may result from the construction of such homes, condominium units and cluster homes during the period prior to the completion of all necessary roadways. (d) Coordination of Development. (1) General. The Parties acknowledge that the construction of the Golf Course Development and the Residential Community Development will occur at substantially the same time. The Parties agree to cooperate and coordinate their respective efforts in the design and planning, including items such as grading and drainage, for each development in order that the developments will complement one another. -6- (2) Rough Grading. The Parties acknowledge that the Property will need to be rough graded in a single, continuous manner to provide for the most efficient development of the Golf Course Development and the Residential Community Development. Edwards agrees to undertake the rough grading for the Property in a manner and within a timeframe which is mutually agreeable to the Parties. The rough grading of the Property shall include, but not be limited to, the rough grading necessary for the Golf Course Development, the Residential Community Development, the Woerner Temple/Eiterman Improvement road profiles and the compaction of any fill deposited on those road bed areas in accordance with ODOT specifications for road construction. The Parties agree that the City shall reimburse Edwards for the cost of any rough grading and compaction as the Parties mutually agree is allocable to the Golf Course Development and the cost of the Woerner Temple/Eiterman Improvements. Section 3. Park Acquisition and Development. In addition to the dedicated parkland the City requires through the development process, the Parties acknowledge that the City is desirous of identifying and purchasing park sites in the southwestern portion of the City to support the recreation needs of the future population in that area. (a) Park Acquisition. In furtherance of the above, the City agrees that it will, at its sole cost and expense, acquire approximately 46.9E acres of land located adjacent to the Property (which area is portrayed on Exhibit D as the Potential Dublin Park and referred to herein as the "City Parr') to be owned and operated by the City as a community public park. The City will pursue this acquisition and . will exercise its best efforts to take all necessary legislative and appropriation actions so that the City may acquire the City Park no later than June 1, 2001. Notwithstanding the foregoing, Edwards agrees that the City shall not be required to exercise its powers of eminent domain to acquire any of the resident, freeholder parcels located south of Woerner Temple Road and west of Avery Road. (b) Park Development. The Parties agree that the development of the City Park is integrally related to the overall development of the Property. Therefore, the Parties agree that the City may consider waiving any competitive bidding requirements imposed by the City Charter to provide for the design and construction of the City Park. The City agrees to reasonably consider any input from Edwards with respect to the design of the City Park. (c) Cost of Development of the City Park. The Parties agree that the cost of developing the City Park in accordance with the plan approved by the City shall be apportioned as follows: (1) City Contribution. The Parties agree that the City shall pay at least $1,752,000, which includes the Edwards contribution described in Section 3(c)(2), towards the cost of designing and constructing the City Park. (2) Edwards Contribution. Edwards agrees that it shall pay to the City an amount of $452,000 to be applied towards the cost of the design and construction of the City Park. Edwards pledges and agrees that such payment will be made in the following installments: (A) $84,000 upon completion and acceptance of the City Park by the City; -7- (B) $84,000 on each of the next two anniversaries of the first payment; and (C) $200,000 on July 1, 2002. The Parties acknowledge and agree that the payments made by Edwards to the City under this subsection will constitute a gift to the City. (d) Related Site. Edwards agrees to donate to the City the historic home site and related property located on the south side of Shier-Rings Road (portrayed as Subarea U on Exhibit E). The City shall maintain, or cause to be maintained, such site in a manner with is reasonably acceptable to the Parties. Section 4. Roadway Improvements. (a) Traffic Study. The Parties acknowledge that the City commissioned a traffic study by the Parsons Transportation Group to identify and assess the traffic needs in connection with the development of the Property. The Parties agree that based on that traffic study, the construction and improvement of certain arterial and collector streets in the southwest area of the City, located or to be located in or around the Property, is vital to comply with the City's policy of providing a roadway network with multiple connections between routes and uses. Further, the Parties acknowledge and agree that the City's portion of the cost of certain public roadway improvements is supported by the findings of that traffic study and that approximately two-thirds of the projected traffic on the improved Eiterman Road and Woerner Temple Road will consist of Golf Course Development and off-site generated traffic, and that the improvements to Woerner Temple Road and Eiterman Road are necessary to provide ingress and egress to the Golf Course Development, as well as to provide for off-site and on-site generated traffic. Therefore, in order to benefit all of the citizens of the City, the Parties agree to make roadway improvements as follows: (b) Dedication and Vacation of Public Rights-of--Way and Easements. (1) Generally. Edwards agrees that, as part of the platting process, it shall dedicate to the City the rights-of--way and easements for the construction and relocation of Woerner Temple Road and Eiterman Road, the construction of turn lanes on Shier-Rings Road, Cosgray Road and Rings Road and the construction and installation of all bikeways, utilities and tunnels as provided for in the approved Development Text (and as such rights-of--way and easements shall be described in the plat for the Property). Edwards further agrees to cooperate with the City and grant to the City easements not described herein or in the plat for the Property as the City shall deem necessary to provide for the construction of any infrastructure improvements benefiting the Property or abutting property; provided, however, the City will compensate Edwards for the additional easements to the extent the grant of such easements to the City results in an economic loss to Edwards as developer in connection with the development of the Residential Community Development. The City agrees that it will take all steps necessary to allow Edwards to undertake all necessary rough grading over the portions of current Woerner Temple Road which are not necessary to provide for the construction of the new Woerner Temple Road. -8- ..A (2) Realigned Rin s Road. The Parties agree that Edwards, through the platting process and in accordance with the Development Text, will convey aright-of--way to the City to provide a corridor for the construction of a portion of the realigned Rings Road (as such right-of- way is marked as Subarea N on Exhibit E and referred to herein as the "Rings Right-of-Way"). The Parties further agree that if the City, through its standard engineering practice, determines that the Rings Right-of--Way should be wider than originally provided for in the Development Text and the number of condominium units which may therefore be constructed in accordance with the Development Text is reduced, the City will compensate Edwards for the acquisition of such additional right-of--way, based on the economic loss to Edwards as developer for any necessary reduction in the number of condominium units as is otherwise provided for in the Development Text. (c) Construction of Woerner Temple Road and Eiterman Road Improvements. (1) Generally. The Parties agree that the City shall design and construct, or cause to be designed and constructed, Woerner Temple Road from Avery Road to Eiterman Road and Eiterman Road from a point 250 feet south of Woerner Temple Road (as noted on Exhibit F) north to Shier-Rings Road, including all related intersection improvements, utilities (including but not limited to water lines along such roadway improvements), tunnels and related appurtenances thereto (all as portrayed on Exhibit F and referred to herein as the "Woerner Temple/Eiterman Improvements"). The Parties also agree that Edwards will, as soon as possible after the execution of this Agreement, but no later than the date on which the plat for the Property is filed with the City, provide the locations of the terminus points of the Woerner Temple/Eiterman Improvements in order that field surveys may commence for the design thereof. The Parties further agree that the City will exercise its best efforts to cause the Woerner Temple/Eiterman Improvements to be substantially complete on or before November 1, 2001. (2) Allocation of Costs. The Parties agree that, based on the current engineering designs, plans and specifications prepared by or on behalf of the City, the portion of the estimated cost of the Woerner Temple/Eiterman Improvements which is necessary for the development of the Residential Community Development is between $4,500,000 and $5,000,000. Accordingly, the Parties agree that the portion of the actual costs of the Woerner Temple/Eiterman Improvements to be borne by the owners of the parcels in the Residential Community Development in accordance with Section 4(c)(3) shall be limited to the lesser of (A) $1,666,667 or (B) one-third (1/3) of the actual cost of the Woerner Temple/Biterman Improvements. (3) Special Assessments. (A) General. The Parties agree that the lesser of (A) $1,666,667 or (B) one- third (1/3) of the actual cost of the Woerner Temple/Eiterman Improvements shall be paid by the owners of the parcels in the Residential Community Development in the fornl of special assessments. (B) Petition for Special Assessments. Edwards agrees that there will be prepared and filed with the City a petition for such special assessments under Revised -9- Code Chapter 727. The Parties agree that such petition will be in a form acceptable to the City's bond counsel and shall be filed with the City no later than January 1, 2001. The City agrees that upon receipt of the petition, it will proceed forward with the special assessment proceedings provided for under Revised Code Chapter 727. The Parties agree to cooperate in the special assessment proceedings in order that the special assessments will be levied for a maximum of twenty (20) years beginning in the 2001 tax year and first collected in calendar year 2002. Such assessments shall be liens running with the land. (C) Financing of Special Assessments. To the extent property owners do not ~ pay the special assessments as levied in the time period provided for by Ohio law, the Parties acknowledge and agree that the City may, in accordance with Ohio law, issue notes or bonds in anticipation of the collection of those unpaid special assessments. The Parties further agree that in accordance with Ohio law, the City may increase those unpaid special assessments by an amount necessary to reflect any financing costs, including but not limited to, interest and issuance expenses. (4) City Portion of the Cost. The Parties agree that the remainder of the cost of the Woerner Temple/Eiterman Improvements shall not be borne by Edwards. (5) Further Extension of Eiterman Road. The Parties agree that Edwards shall not, as part of the development of the Property, be required to pay the cost of constructing Eiterman Road from a point 250 feet south of Woerner Temple Road south to Rings Road. (d) Roadway Improvements Constructed By Edwards. The Parties agree that as part of the development of the Property, Edwards shall design and construct, or cause to be designed and constructed: (1) Generally. The roadway improvements which Edwards is generally required to , construct in accordance with the Development Text. y (2) Secondary Access Road. Within five (5) years of the issuance of the first building permit in Subarea H, one or the other of the following: (A) a street connection from Subarea F (through Subarea R) to Subarea N or (B) a street connection from Subarea H (through the Golf Course Development and Subarea I) to Cosgray Road, all as depicted on Exhibit E. (3) Realigned Rin sg Road. In conjunction with the development of either Subarea R or S (as depicted on Exhibit E) whichever occurs first, the portion of the realigned Rings Road which is depicted as Subarea N on Exhibit E. (4) Left Turn Lane. The left turn lane and intersection improvements for the intersection immediately east of the intersection of Shier-Rings Road and Eiterman Road in the manner and at such time as would be customarily required by the City to preserve capacity of the related through lanes; provided, however, Edwards shall only be required to contribute the lesser of (A) the actual cost of that improvement or (B) $150,000, towards the cost of such left turn lane and intersection improvements. -10- Section 5. Utilities. In accordance with Resolution No. 48-99 adopted by the Council of the City on November 15, 1999, pursuant to requirements found in Section 709.31 of the Revised Code, and in furtherance of the City's commitment to provide services to residents of the City, the Parties agree that utilities will be provided to the Property in the following manner: (a) Utilities Provided by the City. The City agrees to provide for the design, construction and installation of the following utility improvements in connection with the development of the Property: (1) Water. The City will provide adequate municipal water facilities including fire demand, pressure and flows, from lines located in the City near the Property to service the Property for its proposed uses. The City will cause the construction of (A) approximately 3200 lineal feet of water line along Eiterman Road, north from Shier-Rings Road and (B) approximately 3000 lineal feet of water line along Shier-Rings Road, east from Eiterman Road. The City shall obtain all easements necessary for the construction of said extension of water lines, except that any and all easements from property under the control or ownership of Edwards shall be donated to the City. The Parties agree to cooperate in the design of the utility improvements. (2) Sanitary Sewer. The City agrees that it will provide to the perimeter of the Property adequate municipal sanitary sewer facilities from lines located near the Property for the proposed uses. The City will cause the construction of approximately 2700 lineal feet of sanitary sewer line along Shier-Rings Road, east from Eiterman Road. The City agrees that the sanitary sewer lines shall be designed, sized and constructed to adequately serve the contemplated development of the Property. (3) Depiction and Timing. The Parties agree that the water and sanitary sewer improvements described in this Section 5(a) are depicted on Exhibit F and that the City will exercise its best efforts to cause such improvements to be substantially complete on or before November 1, 2001. The City agrees that the water and sanitary sewer improvements will be constructed within the public easements. The City further agrees that Edwards shall be permitted ` to commence construction of water and sanitary sewer improvements for the Residential Community Development at the same time as the City is constructing its public improvements. (b) Utilities Provided by Edwards. Edwards agrees as part of its development to oversize sanitary sewer lines through the development in order to accommodate other properties in the area which the City desires to service. Accordingly, the City agrees that it will contract with Edwards to cause such oversizing to be put in place and such contract shall provide for payment by the City for the cost of oversizing including, but not limited to, increased cost of pipe, additional excavation required, additional rock removal and all other costs to be incurred by such oversizing. The Parties agree that such additional cost is estimated to be approximately $175,000. Edwards shall notify the City upon completion of each phase of such sanitary sewer construction and the City shall compensate Edwards for such oversizing applicable to each completed phase within sixty (60) days of receipt of such notification. Edwards also agrees to provide a tap to the sanitary sewer improvements which it shall construct within the Property for the benefit of the club house facility in the Golf Course Development and such tap shall -11- be available to the City prior to the completion of the Golf Course Development. The City agrees to reimburse Edwards for the cost of that sanitary sewer tap. This section is applicable to on-site utilities in public easements or in rights-of--way dedicated or to be dedicated to the City. Finally, the Parties acknowledge and agree that the City maintains a published policy for the oversizing of water lines and that Edwards may submit expenses for reimbursement pursuant to that policy. (c) Storm Water. Consistent with the City's storm water drainage ordinance (Ordinance No. 40-98) and standard civil engineering practices, the City agrees that Edwards shall be permitted to utilize areas within the Golf Course Development for all storm water detention from the Residential Community Development and further, Edwards may utilize a portion (not more than two acres of drainage capacity) of a pond within the City Park for additional storm water detention. (d) Maintenance of Existin Wells. The Parties acknowledge that the water service for certain parcels abutting the Property is supplied by existing groundwater wells. The Parties agree to cooperate during the course of development of the Property to use their best efforts not to disrupt or diminish the water supplied by those wells. If it is determined that such water supply has been diminished as a result of the development of the Property, the Parties agree to cooperate to restore that water supply. (e) Other Utilities. The City agrees that it will exercise its best efforts to cooperate with third parties to facilitate the extension of utilities into the southeastern portion of the Property in a timely manner to accomplish the objectives of this Agreement. Section 6. Public Pool and Recreational Facility. The Parties agree that certain additional recreation facilities aze required for the residents of the southwestern portion of the City. The Parties agree that Edwards shall make a gift to the City in the amount of $1,000,000, which gift shall be applied solely towazds the cost of constructing a public pool and recreational facility in reasonable proximity to the Property. The City agrees to reasonably consider any input from Edwards with respect to the design of the public pool and recreational facility. Edwards agrees that such gift will be made to the City not later than thirty (30) days after the completion of that public pool and recreational facility which completion is presently expected to occur in calendar year 2004. Section 7. Events of Default and Remedies. (a) Generally. Except as may be otherwise provided~in this Agreement, in the event of any default in or breach of this Agreement, or any of its terms or conditions, by any Party, or any successor to such Party, such Party or successor shall, upon written notice from the other Parry, proceed promptly to cure or remedy such default or breach. In case such remedial action is not taken or not diligently pursued within thirty (30) days of such written notice, the party asserting default or breach may institute such proceedings at law or in equity as may be necessary or desirable in its opinion to remedy such default or breach. Nothing in this Agreement shall limit the right of any Party to pursue any remedy otherwise available to it at either law or in equity. (b) Force Majeure. If by reason of Force Majeure, any Party fails in the observation or performance of any of its agreements, duties or obligations to be observed or performed under this Agreement, that Party shall not be deemed to be in default under this Agreement. However, that Party shall -12- _s.._~..~ . promptly give notice to the other Party of the existence of an event of Force Majeure and shall use its best efforts to remove the effects thereof; provided that the settlement of strikes or other such disturbances shall be entirely within its discretion. The term Force Majeure shall mean, without limitation, acts of God; acts by the people of the City initiating and filing any public referendum challenging the validity of this Agreement or any other agreement or instrument adopted or approved by the City in conjunction with the development of the Property; strikes, lockouts or other such disturbances; acts or delays of the other Party; acts of public enemies; orders or restraints of any kind of the government of the United States of America or of the State or any of their departments, agencies, political subdivisions or officials (except the City or its officials), or any civil or military authority; insurrections; civil disturbances; riots; epidemics; landslides; lightning; earthquakes, fires, hurricanes; tornadoes; storms; droughts; floods; unusually severe weather; arrests; restraints of government and people; explosions; breakage; malfunction or accident to facilities, machinery or transmission lines; partial or entire failure of utilities; freight embargoes; unavailability or shortages of materials, labor, supplies, transportation or delays of contractors, subcontractors or materialmen due to any of such causes; or any cause, circumstance or event not reasonably within the control of that Party. Section 8. Miscellaneous. (a) Notices. Except as otherwise specifically set forth in this Agreement, all notices, demands, requests, consents or approvals given, required or permitted to be given hereunder shall be in writing and shall be deemed sufficiently given if actually received or if hand-delivered or sent by recognized, overnight delivery service or by certified mail, postage prepaid and return receipt requested, addressed to the other Party at the address set forth in this Agreement or any addendum to or counterpart of this Agreement, or to such other address as the recipient shall have previously notified the sender of in writing, and shall be deemed received upon actual receipt, unless sent by certified mail, in which event such notice shall be deemed to have been received when the return receipt is signed or refused. For purposes of this agreement, notices shall be addressed to: (1) the City at: City of Dublin, Ohio 5800 Shier Rings Road Dublin, Ohio 43016-7295 Attention: Director of Development (2) Edwards at: Edwards Golf Communities LLC 500 South Front Street Suite 770 Columbus, Ohio 43215-7619 Attention: Deborah Rurik-Goodwin The Parties, by notice given hereunder, may designate any further or different addresses to which subsequent notices, certificates, requests or other communications shall be sent. -13- (b) Assignments. (1) General. Except as otherwise provided herein, each Party agrees not to assign this Agreement without the prior written consent of the other Party. (2) Assignment to Affiliate or Subsidiary. Edwards may, however, assign its rights and obligations herein to an affiliate or subsidiary. For purposes of this Section 8, an "affiliate or subsidiary" shall mean a legal entity which shall be directly or indirectly controlled, under the control of, or be under common control within Edwards. For purposes hereof, "control" shall be deemed to mean ownership of more than fifty percent (50%) of the outstanding voting stock of a ° corporation or other majority equity and controlling interest if the entity is not a corporation. (3) Default. The City agrees that it will not unreasonably withhold its consent to an assignment of this Agreement to any lender of Edwards which may be required as a result of a default by Edwards on any agreement related to the development of the Residential Community Development. (c) Extent of Provisions Regarding City. All representations, warranties, covenants, agreements and obligations of the City under this Agreement shall be effective to the extent authorized and permitted by applicable law. None of those representations, warranties, covenants, agreements or obligations shall be deemed to be a representation, warranty, covenant, agreement or obligation of any present or future member, officer, agent or employee of the City or its City Council in other than his or her official capacity. (d) Extent of Provisions Regazding Edwards. No representation, warranty, covenant, agreement, obligation or stipulation contained in this Agreement shall be deemed to constitute a representation, warranty, covenant, agreement, obligation or stipulation of any present or future officer, agent or employee of Edwards in an individual capacity. (e) Personal Liability. To the extent authorized and permitted by applicable law, no official executing or approving the City's or Edwards' participation in this Agreement shall be liable personally under this Agreement or be subject to any personal liability or accountability by reason of the issuance thereof. (f) Binding Effect. Subject to the Ordinance taking effect on September 13, 2000, the Parties each represent, warrant and covenant to one another that each Party has fully power and authority to perform their respective obligations under this Agreement and that the execution, delivery and performance of this Agreement have been duly and effectively approved and authorized by all necessary action. This Agreement shall be binding upon, and inure to the benefit of, the City, Edwards and their respective permitted successors and assigns. Provided, however, any covenant, agreement or obligation of the City which requires the expenditure of funds shall not be a general debt of the City. Each covenant, agreement and obligation of the City under this Agreement is binding upon each officer of the City who may have the authority or duty from time to time under law to take any action which may be necessary or advisable to observe or perform that covenant, agreement or obligation. -14- ~ ~ w_,o (g) Amendments. The Parties acknowledge that the terms of this Agreement relating to the development of the Property may need to be amended from time to time and agree, therefore, that this Agreement may be amended from time to time by written instrument executed by both of the Parties. (h) Executed Counterparts. This Agreement may be executed in several counterparts, each of which shall be regarded as an original and all of which shall constitute but one and the same agreement. It shall not be necessary in proving this Agreement to produce or account for more than one of those counterparts. (i) Severability. In case any section or provision of this Agreement, or any covenant, agreement, obligation or action, or part thereof, made, assumed, entered into or taken, or any application thereof, is held to be illegal or invalid for any reason, (1) that illegality or invalidity shall not affect the remainder hereof or thereof, any other section or provision hereof, or any other covenant, agreement, obligation or action, or part thereof, made, assumed, entered into or taken, all of which shall be construed and enforced as if the illegal or invalid portion were not contained herein or therein, (2) the illegality or invalidity of any application hereof or thereof shall not affect any legal and valid application hereof or thereof, and (3) each section, provision, covenant, agreement, obligation or action, or part thereof, shall be deemed to be effective, operative, made, assumed, entered into or taken in the manner and to the full extent permitted by law. (j) Captions. The captions and headings in this Agreement are for convenience only and in no way define, limit or describe the scope or intent of any provisions or sections of this Agreement. (k) Governing Law and Choice of Forum. This Agreement shall be governed by and construed in accordance with the laws of the State of Ohio. All claims, counterclaims, disputes and other matters in question between the City, its agents and employees, and Edwards, its employees and agents, arising out of or relating to this Agreement or its breach will be decided in a court of competent jurisdiction within Franklin County, Ohio. (1) Survival of Representations and Warranties. All representations and warranties of Edwards and the City in this Agreement shall survive the execution and delivery of this Agreement. [THIS SPACE INTENTIONALLY LEFT BLANK] -15- ~ u IN WITNESS WHEREOF, the City and Edwards have caused this Agreement to be executed in their respective names by their duly authorized representatives, all as of the date first written above. CITY OF DUBLIN, OHIO By: Printed: Timothy C. Hansley Title: Cit Mana er C By:~~~~~~~_ ~ Printed: Marsha I. Grigsby Title: Director of Finance Approved as to Form: By: Printed: Stephen J. Smith Title: Director of Law EDWARDS GOLF COMMUNITIES LLC By:~t'~f SC~S ~r Printed: Peter H. Edwards Title: Chairman -16- FISCAL OFFICER'S CERTIFICATE The undersigned, Director of Finance of the City under the foregoing Agreement, certifies hereby that the moneys required to meet the obligations of the City during the year 2000 under the foregoing Agreement have been appropriated lawfully for that purpose, and are in the Treasury of the City or in the process of collection to the credit of an appropriate fund, free from any previous encumbrances. This Certificate is given in compliance with Section 5705.41, Ohio Revised Code. ,~..,n, Dated: ci , 2000 ~~~c~.~, ~ . , ~ Director of Finance City of Dublin, Ohio .,,-w. -17- EXHIBIT A GENERAL DEPICTION OF PROPERTY DEVELOPMENT ,~„r. A-1 EXHIBIT B DEPICTION OF ZONING FOR THE PROPERTY .y ,r.., B-1 _ EXHIBIT C DEPICTION OF GOLF COURSE PARCELS C-1 EXHIBIT D DEPICTION OF CITY PARK ~,w„ D-I EXHIBIT E DEPICTION OF VARIOUS SUBAREAS WITHIN THE PROPERTY E-1 EXHIBIT F DEPICTION OF INFRASTRUCTURE IMPROVEMENTS F-1 INFRASTRUCTURE AGREEMENT THIS INFRASTRUCTURE AGREEMENT (the "Agreement") dated April ~ 2001, by and between the CITY OF DUBLIN, OHIO (the "City"), a municipal corporation duly organized and validly existing under the Constitution and laws of the State of Ohio (the "State") and its Charter, and MULTICON DEVELOPMENT Co. ("Multicon", and collectively with the City, the "Parties" and each individually a "Party"), an Ohio corporation duly organized and validly existing under the laws of the State of Ohio, having its principal office in Columbus, Ohio. WITNESSETH: WxEREAS, Edwards Golf Communities LLC ("Edwards Golf') owns certain parcels of real property in the Southwestern sector of the City on which it is developing a high quality residential community development; and WxEREAS, the City also owns certain parcels of real property in the Southwestern sector of the City on which it is causing to be developed a public golf course, including an eighteen-hole golf course, club house facility, practice facilities and parking, and a public park, all of which parcels are located in proximity to Edwards Golf residential community development; and WxEREAS, the City and Edwards Golf have heretofore entered into a Development Agreement, dated August 14, 2000 (the "Development Agreement"), to provide for the simultaneous development of the residential community development and the golf course development and to further provide for the construction of various roadway, sewer and water infrastructure improvements; and WxEREAS, the Development Agreement provides that Edwards Golf and the City are each responsible for the construction of various roadway, sewer and water infrastructure improvements, all as more particularly described in the Development Agreement; and WHEREAS, the Parties have determined that it would be in the best interests of the City and Edwards Golf to provide for the efficient and coordinated development of the infrastructure improvements described in the Development Agreement; and WHEREAS, the City has determined pursuant to Ordinance No. 43-01, passed on April 2, 2001, that it would be in the best interest of the City to contract with Multicon to provide for the construction and installation of certain of the infrastructure improvements identified in the Development Agreement (as such infrastructure improvements are more fully described on Exhibit A attached hereto and collectively referred to herein as the "Infrastructure Improvements"); Now THEREFORE, the Parties covenant, agree and obligate themselves as follows: provided herein, excluding the costs of any easements or rights-of--way necessary for the construction of the Infrastructure Improvements, all in accordance with the Budget. "Event of Default" means an Event of Default under Section 6.1 of this Agreement. "Force Majeure" means acts of God; fires; epidemics; landslides; floods; strikes; lockouts or other industrial disturbances; acts of public enemies; acts or orders of any kind of any governmental authority; insurrections; riots; civil disturbances; arrests; explosions; breakage or malfunctions of or accidents to machinery, transmission pipes or canals; partial or entire failures of utilities; shortages of labor, materials, supplies or transportation; lightning, earthquakes, hurricanes, tornadoes, storms :w,. or droughts; periods of unusually inclement weather or excessive precipitation; or any cause or event not reasonably within the control of Multicon or the City, as the case maybe. "Guaranteed Maximum Sum" means (a) $6,584,000 with respect to the Roadway Project Improvements, (b) $400,000 with respect to the Sewer Project Improvements and (c) $808,425 with respect to the Water Project Improvements. Provided, however, any portion of the Guaranteed Maximum Sum allocable to the Roadway Project Improvements which has been certified by the Authorized City Representative pursuant to Section 4.3 as available for other Infrastructure Improvements may be allocated to the Guaranteed Maximum Sum allowable for the Sewer Project Improvements and/or the Water Project Improvements or for such other purpose or purposes, all in accordance with Section 4.3 of this Agreement. "Infrastructure Improvements" means collectively, the Roadway Project Improvements, the Sewer Project Improvements and the Water Project Improvements. Infrastructure Improvements may, if mutually agreed to in writing by the Authorized City Representative and the Authorized Multicon Representative, mean any of the Secondary Improvements "Infrastructure Improvements Site" means the real estate described in Exhibit B of this Agreement. "Multicon " means Multicon Development Co., an Ohio corporation duly organized and validly existing under the Constitution and laws of the State of Ohio, having its principal office in Columbus, Ohio. "Notice Address" means: (a) As to the City: City of Dublin, Ohio 5800 Shier-Rings Road Dublin, Ohio 43016-7295 Attention: Director of Development -3- (b) As to Multicon: Multicon Development Co. 500 South Front Street Suite 770 Columbus, Ohio 43215-7619 Attention: Deborah Rurik-Goodwin or a different address as to which notice is given pursuant to Section 7.1 of this Agreement. "Ordinance" means Ordinance No. 43-01 passed by the Council of the City on April 2, 2001. "Person" shall mean an individual, a corporation, a partnership, an association, a limited liability company, a joint stock company, a joint venture, a trust, an unincorporated organization, or a government or any agency or political subdivision thereof. "Roadway Project Improvements" means any real and/or personal property identified generally under the heading Roadway Project Improvements as described on Exhibit A attached to this Agreement and specifically described in the Construction Documents. "Roadway Fund" means the Golf Course Roadway Project Fund created under the Ordinance. "Secondary Improvements" means any of the real and/or personal property identified generally under the heading Secondary Improvements as described on Exhibit A or such other improvements as may be agreed to in writing by the Parties. "Sewer Project Improvements" means any real and/or personal property identified generally under the heading Sewer Project Improvements as described on Exhibit A attached to this Agreement and specifically described in the Construction Documents. "Sewer Fund" means the Golf Course Sewer Project Fund created under the Ordinance. "State" means the State of Ohio, one of the United States of America. "Termination Date" means the date which is one (1) year after the Completion Date. "Water Project Improvements" means any real and/or personal property identified generally under the heading Water Project Improvements as described on Exhibit A attached to this Agreement and specifically described in the Construction Documents. "Water Fund" means the Golf Course Water Project Fund created under the Ordinance. "World' means the construction of the Infrastructure Improvements in accordance with Articles 2 and 3 of this Agreement. -4- _ Section 1.2. Certain Words Used Herein; References. Any reference herein to the City, any members or officers thereof, or other public boards, commissions, departments, institutions, agencies, bodies or other entities, or members or officers thereof, includes without limitation, entities or officials succeeding to their respective functions, duties or responsibilities pursuant to or by operation of law or performing their functions lawfully. Any reference to a section or provision of the Constitution of the State, the Act, a section, provision or chapter of the Ohio Revised Code, federal or State laws includes without limitation, that section, provision or chapter, or those laws or regulations, as amended, modified, revised, N supplemented or superseded from time to time. Words of any gender include the correlative words of any other gender. Unless the context indicates otherwise, words importing the singular number include the plural number, and vice versa. The terms "hereof," "herein," "hereby," "hereto" and "hereunder", and similar terms, refer to this Agreement; and the term "hereafter" means after, and the term "heretofore" means before the date of delivery of this Agreement. ARTICLE II CONSTRUCTION OF THE INFRASTRUCTURE IlVIPROVEMENTS Section 2.1. General Considerations. In consideration of Multicon's promise to cause to be developed the Infrastructure Improvements, the City agrees to finance the Cost of Work, up to but not exceeding the Guaranteed Maximum Sum, in accordance with this Agreement. Section 2.2. Construction of the Infrastructure Improvements. Multicon covenants and agrees that it will contract for the construction of the Infrastructure Improvements in Multicon's name with a contractor or contractors, and the City covenants and agrees to finance the costs of the Infrastructure Improvements from the funds deposited in the Construction Funds in accordance with the terms and provisions of this Agreement and the Ordinance. Multicon covenants and agrees: (a) to make, execute, acknowledge and deliver any contracts, orders, receipts, writings and instructions hereafter delivered, and do all other things which may be necessary or advisable for the construction, improvement and equipping of the Infrastructure Improvements, all in conformity with all then applicable governmental laws, rules and regulations; (b) pursuant to the provisions of this Agreement, to provide for the payment of all fees, costs and expenses incurred in the construction, improvement and equipping of the Infrastructure Improvements from funds made available therefor in accordance with this Agreement, by the City or otherwise; and -5- (c) to the extent commercially reasonable, to ask for, demand, sue for, levy upon, recover and receive all sums of money, indebtedness and other demands whatsoever which may be due, owing or payable to Multicon under the terms of each contract, agreement, obligation, bond, performance security, order and receipt in connection with the construction, improvement and equipping of the Infrastructure Improvements and to enforce the provisions of each contract, agreement, obligation, bond, performance security, order and receipt in connection therewith. Section 2.3. Completion Date and Certifications. The Parties acknowledge that the City covenanted in the Development Agreement to exercise its best efforts to cause the Infrastructure Improvements to be substantially complete on or before November 1, 2001. Consistent with such covenant, the Parties agree to cooperate hereunder in order that the Infrastructure Improvements may be substantially complete on or before November 1, 2001. The Parties further agree that the Work may be completed in several phases as mutually agreed upon in writing by the Authorized City Representative and the Authorized Multicon Representative. Finally, the Parties agree that such completion date may be extended by mutual written agreement of the Authorized City Representative and the Authorized Multicon Representative. The Completion Date of each phase of the Work shall be specified to the City in a certificate signed by the Authorized Multicon Representative, which certificate (a) shall describe all property acquired or installed as part of that completed phase of the Work from the monies deposited in the Construction Funds, (b) shall state the Cost of Work allocable to that completed phase, and (c) shall state that: (i) the construction, improvement and equipping of that phase of the Work have been completed substantially in accordance with the related Construction Documents, all costs then due and payable in connection therewith have been paid, and all obligations, costs and expenses in connection with that phase of the Work and payable out of the Construction Funds or otherwise have been paid or discharged except for any amounts retained in the Construction Funds as provided below; (ii) all other facilities necessary in connection with that phase of the Work have been constructed, improved and equipped; and (iii) the construction, improvement and equipping of that phase of the Work have been accomplished in a manner which conforms to all then applicable governmental laws, rules and regulations. The certificate also shall specify (d) the date by which the foregoing events shall have occurred, (e) which costs and expenses, if any, are not yet due, or are being contested by Multicon, and (f) what amounts should be retained for any other reasons. In reliance thereon, the City may retain in the Construction Funds an amount equal to the aggregate of those costs and expenses. Notwithstanding the foregoing, the certificate shall state that it is given without prejudice to any rights against third parties which then exist or which may come into being subsequently. -6- Section 2.4. Acceptance of Infrastructure Improvements. Acceptance by the City of the Infrastructure Improvements in one or more phases shall not relieve Multicon of its responsibility for defects in material or workmanship as set forth in Section 5.5. ARTICLE III FURTHER PROVISIONS RELATING TO THE CONSTRUCTION OF THE INFRASTRUCTURE IMPROVEMENTS Section 3.1. Construction Documents. Multicon covenants and agrees that the construction, improvement and equipping of the Infrastructure Improvements will be accomplished in accordance with the Construction Documents as approved by the Authorized City Representative, as those Construction Documents may be revised or supplemented from time to time, provided such revisions or supplements are approved by the Authorized City Representative. Section 3.2. Prevailing Wage. The Parties acknowledge and agree that the Infrastructure Improvements are subject to the prevailing wage requirements of Ohio Revised Code Chapter 4115 and all wages paid to laborers and mechanics employed on the Infrastructure Improvements shall be paid at not less than the prevailing rates of wages of laborers and mechanics for the classes of work called for by the Infrastructure Improvements, which wages shall be determined in accordance with the requirements of that Chapter 4115. The Parties shall comply, and Multicon shall require compliance by all contractors and shall require all contractors to require compliance by all subcontractors working on the Infrastructure Improvements, with all applicable requirements of that Chapter 4115. Section 3.3. Awarding of Contracts. The City has prepared or caused to be prepared the Plans and Specifications for the Infrastructure Improvements and has submitted them to Multicon for review. The Parties agree that Multicon may request and receive bids on the Infrastructure Improvements in one or more packages, the number and form of which shall be subject to the reasonable approval of the Authorized City Representative. Multicon agrees that with respect to each bid package, Multicon shall request and receive no less than three (3) responsible bids, except as may otherwise be approved in writing by the Authorized City Representative. Multicon shall award the contract for each bid package subject to the reasonable approval of the Authorized City Representative. Section 3.4. Traffic Control Requirements. Multicon shall be responsible for ensuring the provision, through contractors or otherwise, of all traffic control devices, flaggers and police officers required to properly and safely maintain traffic. All traffic control devices shall be furnished, erected, maintained and removed in accordance with the "Ohio Manual of Traffic Control Devices for Construction and Maintenance Operation." Section 3.5. Security for Performance. Multicon shall furnish or require all contractors performing Work to furnish prior to commencement of construction of that Work, one of the following types of project guarantees: -7- (a) Contract Bonds. A surety bond which shall name Multicon and the City as obligee in the form provided by Section 153.57 of the Ohio Revised Code. The performance and materialman's bond shall cover all Costs of Work, including a guarantee period of one (1) year set forth in Section 5.5 hereof. (b) Irrevocable Letter of Credit. A letter of credit naming Multicon and the City as obligee in the form provided by 153.57 of the Ohio Revised Code. The letter of credit ,,a„ shall be subject to the Uniform Customs and Practices for Documentary Credits (1993 Revision), International Chamber of Commerce Publication No. 500. The letter of credit shall cover all Costs of Work, including a guarantee period of one (1) year set forth in Section 5.5 hereof. Any bond shall be executed by sureties that are licensed to conduct business in the State and are named in the current list of "companies Holding Certificates of Authority as Acceptable Securities on Federal Bonds and as Acceptable Insurance Companies" as published in Circular 570 (amended) by the Audit Staff Bureau of Accounts, U.S. Treasury Department or as may be otherwise approved in writing by the Authorized City Representative. All bonds signed by an agent must be accompanied by a certified copy of the authority to act. If the surety of any bond so furnished by a contractor declares bankruptcy, become insolvent or its right to do business is terminated in the State, Multicon shall within five (5) days thereafter cause the contractor to substitute another bond and surety, both of which shall be acceptable to the City and Multicon. Multicon shall provide to the City prior to commencement of any Work by each contractor a copy of the Contract Documents relating to the Work to be performed by that contractor and the security for performance provided by the contractor pursuant to this Section. Section 3.6. Cost of Work in Excess of Guaranteed Maximum Sum. Multicon agrees to assume and pay the Cost of Work in excess of the Guaranteed Maximum Sum and to indemnify the City against any Cost of Work in excess of the Guaranteed Maximum Sum. Section 3.7. Public Use. Multicon agrees that, upon satisfactory completion of the Infrastructure Improvements in accordance with this Agreement, such Infrastructure Improvements °1°~' shall be dedicated to the City for public use. Section 3.8. Equal Opportunity Clause. Multicon will, in all solicitations or advertisements for employees placed by or on behalf of Multicon, state that Multicon is an equal opportunity employer. Multicon shall require all contractors and shall require all contractors to require all subcontractors to include in each contract a summary of this equal opportunity clause. Section 3.9. Insurance Requirements. Multicon shall require all contractors and shall require all contractors to require all subcontractors to take out or cause to be taken out and maintained until such time as that contractor or subcontractor has completed its portion of the Work, such insurance as is required by the Construction Documents, which insurance shall protect the Parties and any contractor or subcontractor performing Work covered by this Agreement from the types of claims for damages as set forth in the Construction Documents. Such insurance policy or policies shall include the Parties as additional named insureds. Such insurance policies shall further provide that any attorney fees accruing or payable with respect to a claim under such policy shall be -8- paid by the insurer and shall not count against the coverage limits of such policy. Prior to commencement of any portion of the Work by any contractor or subcontractor, such contractor or subcontractor, as the case may be, shall provide to the Parties an original certificate of insurance as proof of such insurance coverage. Such insurance shall remain in full force and effect during the Agreement Term. Insurance may not be changed or canceled unless all insureds, including the Parties, are notified in writing not less than thirty days prior to such change or cancellation. Section 3.10. City Income Tax Withholdings. Multicon shall withhold and pay, shall require all contractors to withhold and pay, and shall require all contractors to require all subcontractors to withhold and pay, all City Income Taxes due or payable with respect to wages, salaries, commissions and any other income subject to the provisions of Chapter 35, Dublin City Codes. Section 3.11. Compliance with Occupational Health and Safety Act of 1970. Multicon and all contractors and subcontractors shall be solely responsible for their respective compliance with the Occupational Safety and Health Act of 1970 under this Agreement. Section 3.12. Provision of Security for Mechanic's Liens. To the extent any materiahnan, contractor, or subcontractor files and records a mechanic's lien against the Infrastructure Improvements, Multicon shall, or shall require the appropriate contractor to, provide any security required by Ohio Revised Code Section 1311.11 to cause that mechanic's lien to be released of record with respect to the Infrastructure Improvements. ARTICLE IV PAYMENT OF COSTS Section 4.1. Deposit of Monies in the Construction Funds. Upon the execution of this Agreement, the City covenants and agrees to deposit monies into the respective Construction Funds in amounts equal to the respective Guaranteed Maximum Sums payable from each Construction Fund, for the purpose of financing the Cost of Work. Section 4.2. Disbursements from Construction Funds. (a) The City agrees to pay the Cost of Work up to a maximum amount of the Guaranteed Maximum Sum and with those payments made in accordance with the Construction Documents, including any retainage as provided for therein, based on written requisitions executed by the Authorized Multicon Representative substantially in the form attached hereto as Exhibit C. The Authorized City Representative, with the concurrence of the Director of Law, may agree to vary the lien waiver requirements in paragraph (vii) of attached Exhibit C. All disbursements requested pursuant to this section shall be subject to the prior approval of the Director of Finance. All disbursements pursuant to this Section shall be made solely from the Construction Funds. -9- (b) Pursuant to the Ordinance, the City has established the Construction Funds for the payment of the Cost of Work, up to but not exceeding the respective Guaranteed Maximum Sums for each of the Roadway Project Improvements, the Sewer Project Improvements and the Water Project Improvements. The monies on deposit in the Construction Funds shall be disbursed from time to time to make payments to persons designated by Multicon in respect of portions of the Cost of Work, upon receipt by the City of a written requisition executed by the Authorized Multicon Representative substantially in the form attached hereto as Exhibit C. Upon request of the Authorized City Representative, Multicon shall furnish invoices or other documentation in connection with each such Written Requisition. Any Written Requisition under this Section 4.2 may be in the form of a communication by telegram, telex, or facsimile transmission, but if in such form, it shall be promptly confirmed by a Written Requisition executed by an Authorized Multicon Representative and approved by the Authorized City Representative. (c) In paying any Written Requisition under this Section 4.2, the City shall be entitled to rely as to the completeness and accuracy of all statements in such Written Requisition upon the approval of such Written Requisition by an Authorized Multicon Representative, execution thereof, and communication thereof by telegram, telex, or facsimile transmission, to be conclusive evidence of such approval, and Multicon shall indemnify and save harmless the City from any liability incurred in connection with any Written Requisition so executed or communicated by an Authorized Multicon Representative. (d) Multicon shall not submit or cause to be submitted to the City any Written Requisition pursuant to this Section 4.2 and shall have no claim upon any monies in the Construction Funds, so long as there shall have occurred and be continuing any Event of Default. ~„,w, (e) The City shall remit payment in accordance with a Written Requisition submitted in compliance with this Agreement within twenty-one (21) days following receipt of such Written Requisition. (f) Multicon acknowledges and agrees that the City may, from time to time, expend monies on deposit in the various Construction Funds for purposes of paying costs of engineering fees, permits to install, materials testing and right of way acquisitions, all in connection with the design and construction of the Infrastructure Improvements. The City agrees that it shall, prior to the time any such payments are made, notify Multicon of such proposed payment, the amount of such payment and the Construction Fund from which such payment will be made. Section 4.3. Transfer of Excess Monies in Roadway. At any time during the term of this Agreement, the Authorized City Representative may determine and certify to Multicon whether any monies are on deposit in the Roadway Fund which, in the sole determination of the City, will not be needed to pay any further costs associated with the Roadway Project Improvements (such excess monies being referred to herein as the "Excess Roadway Monies"). If such Excess Roadway Monies remain in the Roadway Project Fund, the City may, at the sole discretion of the -10- Authorized City Representative, (a) transfer those Excess Roadway Monies to the Sewer Fund and/or the Water Fund to the extent necessary to provide for the completion of the Sewer Project Improvements and/or the Water Project Improvements, respectively, (b) use those Excess Roadway Monies to provide for the design and construction of one or more of the Secondary Improvements in accordance with Section 4.4, or (c) transfer those Excess Roadway Monies to the City's General Fund. Section 4.4. Design and Construction of Secondary Improvements. If the City determines pursuant to Section 4.3 that such Excess Roadway Monies shall be used to provide for the design and construction of Secondary Improvements, the Secondary Improvements to be designed and construction shall be approved in writing by the Authorized City Representative and the Authorized Multicon Representative. The Secondary Improvements designated pursuant to this Section 4.4 shall be designed and constructed as Infrastructure Improvements in accordance with this Agreement. Multicon acknowledges and agrees that the City shall not be required to pay any costs associated with the design and construction of any Secondary Improvements in an amount which exceeds the Excess Roadway Monies. Section 4.5. Multicon Required to Pay Costs if Amounts in Construction Funds Insufficient. The City represents and warrants that it will deposit the respective Guaranteed Maximum Sums into the Roadway Fund, the Sewer Fund and the Water Fund, all in accordance with the terms of this Agreement. In the event that the monies in the respective Construction Funds are not sufficient as needed to pay in full the Cost of Work in accordance with the respective Guaranteed Maximum Sums, Multicon covenants and agrees, for the benefit of the City, to pay that portion of the Cost of Work necessary to complete the construction, improvement and equipping to be accomplished pursuant to this Agreement which may be in excess of the monies available therefor in the Construction Funds. The City does not make any representation or warranty, either express or implied, that the monies which will be paid into the Construction Funds, and which under the provisions of this Agreement will be available for payment of the costs of the construction, improvement and equipping to be accomplished pursuant hereto, will be sufficient to pay all of the costs thereof or costs and expenses which will be incurred in connection therewith. Multicon covenants and agrees that if, after exhaustion of the monies in the Construction Funds which shall not be less than the Guaranteed Maximum Sum, Multicon pays pursuant to this Section any portion of the costs and expenses necessary for the completion of the Infrastructure Improvements as required under this Agreement, Multicon will not be entitled to any reimbursement therefor from the City. ARTICLE V CERTAIN REPRESENTATIONS, WARRANTIES, COVENANTS AND AGREEMENTS Section 5.1. Certain Representations, Warranties, Covenants and Agreements of Citv. The City represents and warrants as of the date of delivery of this Agreement that: -11- e.~ _ ~ (a) It is a municipal corporation and political subdivision duly organized and validly existing under the Constitution and laws of the State. (b) It will have duly accomplished all conditions necessary to be accomplished by it prior to the execution and delivery of the City Documents and to constitute such City Documents as valid and binding instruments enforceable in accordance with their respective terms. (c) It is not in violation of or in conflict with any provision of the laws of the State which would impair its ability to observe and perform its covenants, agreements and obligations under the City Documents. (d) It has and will have full power and authority (i) to execute, deliver, observe and perform the City Documents and all other instruments and documents executed and delivered by the City in connection therewith and (ii) to enter into, observe and perform the transactions contemplated in the City Documents and those other instruments and documents. (e) It has or will have duly authorized the execution, delivery, observance and performance of the City Documents. Section 5.2. Certain Representations. Warranties. Covenants and Agreements of Multicon. Multicon represents and warrants as of the date of delivery of this Agreement that: (a) Multicon (i) is an Ohio corporation duly organized, validly existing and in good standing under the laws of the State and (ii) has all requisite power and authority and all necessary licenses and permits to own and operate its properties and to carry on its business as now being conducted and as presently proposed to be conducted. (b) There are no actions, suits, proceedings, inquiries or investigations pending, or to the knowledge of Multicon threatened, against or affecting Multicon in any court or before any governmental authority or arbitration board or tribunal which involve the possibility of materially and adversely affecting the transactions contemplated by this Agreement or the ability of Multicon to perform its obligations under this Agreement. (c) The execution and delivery by Multicon of this Agreement and the compliance by Multicon with all of the provisions hereof (i) are within the authority and powers of Multicon, (ii) will not conflict with or result in any breach of any of the provisions of, or constitute a default under, any agreement, articles of organization, operating agreement or other instrument to which Multicon is a party or by which it maybe bound, or any license, judgment, decree, law, statute, order, rule or regulation of any court or governmental agency or body having jurisdiction over Multicon or any of its activities or properties, and (iii) have been duly authorized by all necessary action on the part of Multicon. -12- (d) No event has occurred and no condition exists with respect to Multicon that would constitute a default under this Agreement or which, with the lapse of time or with the giving of notice or both, would become an Event of Default under this Agreement. Section 5.3. Multicon to Maintain Legal Existence. Multicon covenants and agrees that it will maintain its legal existence so long as Multicon remains liable under this Agreement. Section 5.4. Indemnification. Multicon shall indemnify, defend and hold harmless the City, its agents, and employees from and against any and all suits or claims for damages or losses arising or allegedly arising out of, or resulting from performance of the Work by Multicon, its contractors, subcontractors, agents, employees or representatives. Multicon shall require that all contractor agreements, and shall require all contractors to require that all subcontractors agreements, include indemnification language as found above. Multicon shall promptly reimburse the City and its successors and assigns, for any cost, expense or attorney's fees incurred on account of any such suit or claim incurred in enforcing the terms of this Agreement. This indemnification provision is agreed by Multicon to expressly waive Multicon's immunity, if any, as a complying employer under Section 35, Article II of the Ohio Constitution and Worker's Compensation laws of the Ohio Revised Code from indemnifying and holding the City harmless from claims by employees, agents or contractors of Multicon. This indemnity does not cover (a) any injuries or damages occurring after the completion of construction of the Work by Multicon, or (b) any injuries or damages arising out of the actions or inactions of the City or its agents or employees. Section 5.5. Further Multicon Guaranties Relating to the Infrastructure Improvements. Multicon warrants that it will cause to be exercised in the performance of the Work the standard of care normally exercised by nationally recognized engineering and construction organizations engaged in performing comparable services. Multicon further warrants that each phase of the Work shall be free from defects in materials and workmanship (without regard to the standard of care exercised in its performance) for a period of one (1) year after final written acceptance of that phase of the Work. Multicon shall at its own expense: (a) Correct or re-execute, or cause to be corrected or re-executed, any of the Work that fails to conform with the requirements of the Construction Documents and appears during the prosecution of the Work; (b) Correct, or cause to be corrected, any defects in materials and workmanship of the Work (without regard to the standard of care exercised in its performance) which appear within a period of one (1) year after final written acceptance of that Work or within such longer period of time as may be set forth in the Construction Documents; and (c) Replace, repair, or restore, or cause replacement, repair or restoration of, any parts of the Work or any of the fixtures, equipment, or other items placed therein that are injured or damaged as a consequence of any such failure or defect, or as a consequence of corrective action taken pursuant hereto. Should Multicon fail to make, or cause to be made, corrections required by this Section, then the City may do so at the expense and for Multicon. -13- Section 5.6. Multicon Representations as to Personal Property Taxes. Multicon represents that at the time of the execution of this Agreement, Multicon was not charged with any delinquent personal property taxes on the general tax list of personal property of Franklin County. Further, Multicon shall require all contractors to execute an affidavit in the form attached as Exhibit D, a copy of which certificate shall be delivered to the Authorized City Representative prior to the commencement of any work by that contractor or subcontractor. ARTICLE VI EVENTS OF DEFAULT AND REMEDIES Section 6.1. Events of Default and Remedies. (a) Except as otherwise provided in this Agreement, in the event of any default in or breach of this Agreement, or any of its terms or conditions, by either Party hereto, or any successor to such Party, such Party or successor shall, upon written notice from the other, proceed promptly to cure or remedy such default or breach. In case such remedial action is not taken or not diligently pursued within thirty (30) days of such written notice, the Party asserting default or breach may institute such proceedings at law or in equity, or in the case of a claim against the City, an action in mandamus, as may be necessary or desirable in its opinion to remedy such default or breach. (b) Notwithstanding the preceding paragraph, if by reason of Force Majeure any Party fails in the observance or performance of any of its agreements, duties or obligations to be observed or performed under this Agreement, the Party shall not be deemed to be in default under this agreement. The Party will give notice promptly to the other of any event of Force Majeure and will use its best efforts to remedy that event with all reasonable dispatch; provided that a Party will not be required to settle strikes, lockouts or other industrial disturbances by acceding to the demands of any opposing Person, when in that Party's judgment, that course would be unfavorable to it; and no suspension will constitute an Event of Default if that suspension is a result of the application of ,R..~ federal or State wage, price or economic stabilization controls, cost containment requirements, restrictions on rates, charges or revenues of Multicon, which prevents Multicon from observing and performing the applicable covenant, agreement or obligation. (c) The declaration of an Event of Default hereunder and the exercise of rights, remedies and powers upon the declaration are subject to any applicable limitations of federal bankruptcy law affecting or precluding the declaration or exercise during the pendency of or immediately following any bankruptcy, liquidation or reorganization proceedings. Section 6.2. No Remedy Exclusive. Unless provided expressly otherwise herein, no right, remedy or power conferred upon or reserved to either Party under this Agreement is intended to be exclusive of any other available right, remedy or power, but each right, remedy and power shall be cumulative and concurrent and shall be in addition to every other right, remedy and power available under this Agreement or existing at law, in equity or by statute or otherwise now or hereafter. No exercise, beginning of the exercise, or partial exercise by either Party of any one or more rights, remedies or powers shall preclude the simultaneous or later exercise by that Party of any or w-=® -14- all other rights, remedies or powers. No delay or omission in the exercise of any right, remedy or power accruing upon any Event of Default hereunder shall impair that or any other right, remedy or power or shall be construed to constitute a waiver of any Event of Default hereunder, but any right, remedy or power may be exercised from time to time and as often as may be deemed to be expedient. Section 6.3. No Additional Waiver Implied by One Waiver. In the event that any covenant, agreement or obligation under this Agreement shall be breached by either Multicon or the City and the breach shall have been waived thereafter by Multicon or the City, as the case may be, the waiver shall be limited to the particular breach so waived and shall not be deemed to waive any other or any subsequent breach thereunder. No failure by either Party to insist upon the strict observance or performance by the other Party of any covenant, agreement or obligation under this Agreement and no failure to exercise any right, remedy or power consequent upon a breach thereof, shall constitute a waiver of any right to strict observance or performance or a waiver of any breach. No express waiver shall be deemed to apply to any other breach or to any existing or subsequent right to remedy the breach. Section 6.4. Waiver of A~praisement. Valuation and Other Laws. In the event that there is an Event of Default under this Agreement and the defaulting Party does not contest the existence of the Event of Default, the defaulting Party covenants and agrees to waive, and waives hereby, the benefit of all appraisement, valuation, stay, extension or redemption laws in force from time to time, all right of appraisement and redemption to which it maybe entitled, and all rights of marshaling, all to the extent that the defaulting Party may effect that waiver lawfully. Neither the defaulting Party, nor anyone claiming through it, shall set up, claim or seek to take advantage of any of those laws or rights. Section 6.5. Right to Observe and Perform Covenants. Agreements and Obli atg ions. If Multicon shall fail to observe or perform any covenant, agreement or obligation, under this Agreement, without demand upon Multicon and without waiving or releasing any covenant, agreement, obligation or Event of Default, upon thirty (30) days' written notice to Multicon, the City may observe or perform that covenant, agreement or obligation for the account of Multicon, provided that the City shall have no obligation to take any of those actions. Any expenses incurred by the City under this Section 6.5 shall be payable first from the respective Construction Fund in accordance with this Agreement, and second shall be charged to and payable by Multicon. Section 6.6. Provisions Subject to Applicable Law. All rights, remedies and powers hereunder may be exercised only to the extent permitted by applicable law. Those rights, remedies and powers are intended to be limited to the extent necessary so that they will not render this Agreement invalid, unenforceable or not entitled to be recorded, registered or filed under any applicable law. -15- . ARTICLE VII MISCELLANEOUS Section 7.1. Notices. Except as otherwise specifically set forth in this Agreement, all notices, demands, requests, consents or approvals given, required or permitted to be given hereunder shall be in writing and shall be deemed sufficiently given if actually received or ifhand-delivered or sent by recognized, overnight delivery service or by certified mail, postage prepaid and return receipt requested, addressed to the other Party at the address set forth in this Agreement or any addendum to or counterpart of this Agreement, or to such other address as the recipient shall have previously notified the sender of in writing, and shall be deemed received upon actual receipt, unless sent by certified mail, in which event such notice shall be deemed to have been received when the return receipt is signed or refused. A duplicate copy of each notice, certificate, request or other communication given hereunder to the City or Multicon shall be given also to the others. The Parties, by notice given hereunder, may designate any further or different addresses to which subsequent notices, certificates, requests or other communications shall be sent. Section 7.2. Extent of Provisions Re arding City. All representations, warranties, covenants, agreements and obligations of the City under this Agreement shall be effective to the extent authorized and permitted by applicable law. None of those representations, warranties, covenants, agreements or obligations shall be deemed to be a representation, warranty, covenant, agreement or obligation of any present or future member, officer, agent or employee of the City in other than his or her official capacity. Section 7.3. Extent of Provisions Regasdin~ the Citv and Multicon; No Personal Liability. No representation, warranty, covenant, agreement, obligation or stipulation contained in this Agreement shall be deemed to constitute a representation, warranty, covenant, agreement, obligation or stipulation of any present or future trustee, member, officer, agent or employee of the City or Multicon in an individual capacity, and to the extent authorized and permitted by applicable law, no official executing or approving the City's or Multicon's participation in this Agreement shall be liable personally under this Agreement or be subject to any personal liability or r accountability by reason of the issuance thereof. Section 7.4. Bindin,~. This Agreement shall inure to the benefit of and shall be binding upon the Parties, and their respective permitted successors and assigns, subject, however, to the specific provisions hereof; provided that any covenant, agreement or obligation of the City which requires the expenditure of funds shall not be a general debt of the City. The Parties will observe and perform faithfully at all times all covenants, agreements and obligations under this Agreement. Each covenant, agreement and obligation of the City under this Agreement is binding upon each officer of the City who may have the authority or duty from time to time under law to take any action which may be necessary or advisable to observe or perform that covenant, agreement or obligation. -16- Section 7.5. Execution Counterparts. This Agreement may be executed in several counterparts, each of which shall be regarded as an original and all of which shall constitute but one and the same agreement. It shall not be necessary in proving this Agreement to produce or account for more than one of those counterparts. Section 7.6. Severability. In case any section or provision of this Agreement, or any covenant, agreement, obligation or action, or part thereof, made, assumed, entered into or taken, or any application thereof, is held to be illegal or invalid for any reason, (a) that illegality or invalidity shall not affect the remainder hereof or thereof, any other section or provision hereof, or any other covenant, agreement, obligation or action, or part thereof, made, assumed, entered into or taken, all of which shall be construed and enforced as if the illegal or invalid portion were not contained herein or therein, (b) the illegality or invalidity of any application hereof or thereof shall not affect any legal and valid application hereof or thereof, and (c) each section, provision, covenant, agreement, obligation or action, or part thereof, shall be deemed to be effective, operative, made, assumed, entered into or taken in the manner and to the full extent permitted by law. Section 7.7. Captions. The captions and headings in this Agreement are for convenience only and in no way define, limit or describe the scope or intent of any provisions or sections of this Agreement. Section 7.8. Governing Law and Choice of Forum. This Agreement shall be governed by and construed in accordance with the laws of the State. All claims, counterclaims, disputes and other matters in question between the City, its agents and employees, and Multicon, its employees, contractors, subcontractors and agents arising out of or relating to this Agreement or its breach will be decided in a court of competent jurisdiction within the State. ..b Section 7.9. Survival of Representations and Warranties. All representations and warranties of Multicon and the City in this Agreement shall survive the execution and delivery of this Agreement. [THIS SPACE INTENTIONALLY LEFT BLANK.] -17- IN WITNESS WHEREOF, the City and Multicon have caused this Agreement to be executed in their respective names by their duly authorized representatives, all as of the date first written above. CITY OF DUBLIN, OHIO By: Printed: Timothy C. Hanslev Title: CitYMana~er By: Printed: Marsha I. Grigsby Title: Director of Finance Approved as to Form: By: Printed: Stephen J. Smith Title: Director of Law MULTICON DEVELOPMENT CO. By: Printed: Peter H. Edwards Title: Chairman -18- FISCAL OFFICER' S CERTIFICATE The undersigned, Director of Finance of the City under the foregoing Agreement, certifies hereby that the monies required to meet the obligations of the City during the year 2001 under the foregoing Agreement have been appropriated lawfully for that purpose, and is in the Treasury of the City or in the process of collection to the credit of an appropriate fund, free from any previous encumbrances. This Certificate is given in compliance with Sections 5705.41 and 5705.44, Ohio Revised Code. Dated: April , 2001 Director of Finance -19- EXHIBIT A INFRASTRUCTURE IMPROVEMENTS The Infrastructure Improvements shall consist of the following improvements as described in greater detail in the Construction Documents: Roadway Pr ject Improvements: m The Roadway Project Improvements shall include of the design and construction of Woerner Temple Road from Avery Road to Eiterman Road and Eiterman Road from a point approximately 250 feet south of Woerner Temple Road north to Shier-Rings Road, including all related intersection improvements, tunnels and all related appurtenances thereto. Sewer Project Improvements: The Sewer Project Improvements shall include the design and construction of approximately 2700 linear feet of sanitary sewer line along Shier-Rings Road, east from Eiterman Road, and all related appurtenances thereto. Water Proiect Improvements: The Water Project Improvements shall include the design and construction of approximately 33201inear feet of water line along Eiterman Road, north from Shier-Rings Road, approximately 3200 linear feet of water line along Shier-Rings Road, east from Eiterman Road, and approximately 990 linear feet of water line along Avery Road north and south of Woerner Temple Road, and all related appurtenances. Secondary Improvements: The Secondary Improvements shall include, but not be limited to, burial of existing power lines, landscaping and irrigation improvements in and around the Infrastructure Improvements Site, lighting improvements along the Roadway Improvements Project, and other parks and recreational facilities and improvements in and around the Infrastructure Improvements Site. A-1 EXHIBIT B INFRASTRUCTURE IMPROVEMENTS SITE B-1 il... _ _ EXHIBIT C WRITTEN REQUISITION The City of Dublin, Ohio 5800 Shier-Rings Road Dublin, Ohio 43016-7295 Attention: ,Authorized City Representative Re: Certificate and Request for Disbursement of Funds From the City of Dublin [Roadway][Sewer][Water] Construction Fund You are hereby requested to disburse from the [Roadway][Sewer][Water] Construction Fund described above, which was created by Ordinance No. -O1, and in accordance with the provisions of Section 4.2 of the Infrastructure Agreement, dated 2001 (the "Agreement") between the City and Multicon Development Co. ("Multicon"), the amount of $ as more fully set forth on Schedule A attached hereto to be paid pursuant to this Written Requisition No. to the payee(s) listed on such Schedule A for the purposes therein set forth. The undersigned Authorized Multicon Representative does hereby certify in compliance with Section 4.2 of that certain Agreement that: (i) I have read the Agreement and definitions relating thereto and have reviewed appropriate records and documents of Multicon relating to the matters covered by this Written Requisition. (ii) The amount and nature and the name and address of the payee of each item of the Cost of Work hereby requested to be paid are shown on Schedule A attached hereto; (iii) The disbursement herein requested is for an obligation properly incurred, is a proper charge against the specified Construction Fund as a Cost of Work (as defined in the Agreement), has not been the basis of any previous withdrawal from the specified Construction Fund, and, if for acquisition or installation of the Infrastructure Improvements, was made in accordance with the Construction Documents; (iv) The Infrastructure Improvements have not been materially injured or damaged by fire or other casualty in a manner which, if not repaired or replaced, would materially impair the ability of Multicon to meet its obligations under the Agreement; (v) Multicon is in material compliance with all provisions and requirements of the Agreement; C-1 r (vi) No Event of Default set forth in Article VI of the Agreement, and no event which but for the lapse of time or the giving of notice or both would be such an Event of Default, has occurred and is continuing; (vii) Attached hereto as Schedule B are lien waivers from any materialmen, contractors and subcontractors who have provided services or materials to the Infrastructure Improvements in excess of Five Hundred Dollars ($500) and who were paid pursuant to the previous Written Requisition and Multicon acknowledges its obligation to require, or require provision of, certain security pursuant to Section 3.12 of the Infrastructure Agreement in the event any mechanic's liens are filed in connection with the Infrastructure Improvements; (viii) The Infrastructure Improvement are being and have been installed substantially in accordance with the Construction Documents for the Infrastructure Improvements, and all materials for which payment is requested have been delivered to and remain on the Infrastructure Improvements Site; (ix) The payment requested hereby does not include any amount which is not entitled to be retained under any holdbacks or retainages provided for in any agreement; (x) Multicon has asserted its entitlement to all available manufacturer's warranties to date upon acquisition of possession of or title to such improvements or any part thereof which warranties have vested in Multicon and shall be wholly transferable to the City; and (xi) All proceeds of the specified Construction Fund heretofore disbursed have been spent in accordance with the Written Requisition applicable thereto. (xii) The amount requested herein represents $ from the original estimated cost in the budget and $ from the contingency portion of the budget. emu. EXECUTED this day of , By: Authorized Multicon Representative C-2 1 SCHEDULE A Requisition No. for the City of Dublin, Ohio For the purpose of making the following payments in respect of work performed by the following Payee(s): Payee Address of Payee Amount of Payee Invoice : $ Purpose of Payment Payment Requested by this Requisition $ EXHIBIT D PERSONAL PROPERTY TAX AFFIDAVIT STATE OF OHIO ) ss FRANKLIN COUNTY ) The affiant being first duly sworn states that he or she is the (Title) of ,and that he or she or (check one): (Company Name) (Company Name) 1. Was not charged, at the time the bid for (Infrastructure Improvements) was submitted, with any delinquent personal property taxes on the general tax list of personal property of any county in which the taxing district has territory; or 2. Was charged at the time the bid for (Infrastructure Improvements) was submitted, with delinquent personal property taxes on the general tax list of personal property of any county, in which the taxing district has territory, and attached hereto is a statement setting forth the amount of such due and unpaid delinquent taxes and any due and unpaid penalties and interest thereon. Further Affiant sayeth not. Company By: Affiant and Title Sworn to before me, a Notary Public, this the day of , Notary Public D-1 EXHIBIT E COST OF WORK BUDGET Roadwayp Project Improvementsl: Woerner Temple Road Improvements $3,212,000 Eiterman Road Improvements 3,372,000 Total Roadway Project Improvements Budget $6,584,000 Sewer Project Improvementsl: Shier-Rings Road Sewer Line 400,000 Total Sewer Project Improvements Budget 400,000 Water Project Imurovements3: Shier-Rings Road Water Line 313,000 Eiterman Road Water Line (North of Shier Rings Road) 355,200 Avery Road Water Line 140,225 Total Water Project Improvements Budget 808,425 Total Cost of Work Budget $7,792,425 I Roadway Project Improvements are payable solely from the Roadway Construction Fund. z Except as otherwise provided herein, Sewer Project Improvements are payable solely from the Sewer Construction Fund. s Except as otherwise provided herein, Water Project Improvements are payable solely from the Water Construction Fund. E-1