Contracts & Agreements_235-2018 - Laserfiche WebLink

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C Owner shall allow reasonable periodic examinations, by prior appointment, of the interior and exterior of the Property by representatives of the San Bernardino County Assessor, State Board of Equalization and City, as may be necessary to determine Owner's compliance with the terms and provisions of this Agreement D Owner shall expend one hundred percent (100%) of the property tax savings recognized by Owner during the Term of this Agreement to finance the preservation, maintenance, rehabilitation and improvement of the Property Owner shall maintain records and documentation of such property tax savings and expenditures and shall provide annually a written accounting to the City City shall have the right to audit Owner's property tax records and expenditures for the purposes of ensuring Owner's compliance with the requirements of this subsection 3d 4 Provision of Information of Compliance Owner hereby agrees to furnish City with any and all information requested by the City which may be necessary or advisable to determine compliance with the terms and provisions of this Agreement 5 Office of Historic Preservation City shall provide written notice of this Agreement to the State Office of Historic Preservation within one (1) month of City's approval of this Agreement 6 Cancellation. City, following a duly noticed public hearing as set forth in California Government Code Sections 50280, et seq , may cancel this Agreement if it determines that Owner breached any of the conditions of this Agreement or has allowed the Property to deteriorate to the point that it no longer meets the standards for a Historic Resource or Contributing Structure City may also cancel this Agreement if it determines that the Owner has failed to restore or rehabilitate the Property in the manner specified in subparagraph 3(b) of the Agreement, including but not limited to Owner's failure to comply with the Plan and/or Owner's failure to complete the rehabilitation and restoration identified in the Plan as provided for in the Plan In the event of cancellation of this Agreement by City, Owner shall pay the State of California a cancellation fee of Twelve and One-Half percent (12 ''/z%) of the current fair market value of the Property at the time of cancellation, as determined by the San Bernardino County Assessor without regard to any restrictions of the Property imposed pursuant to this Agreement Payment of the fee shall be made in accordance with the provisions of subsection (b) of Section 50286 of the California Government Code 7 Enforcement of Agreement In lieu of and /or in addition to any provisions permitted cancelation of this Agreement as referenced herein, City may specifically enforce, or enjoin the breach of, the terms of this Agreement In the event of a default under the provisions of this Agreement by Owner, City shall give written notice to Owner by registered or certified mail addressed to the address stated in this Agreement, and if such a violation is not corrected to the reasonable satisfaction of the City within thirty (30) days thereafter, or if not corrected within such a reasonable time as may be required to cure the breach or default if said breach or default cannot be cured within thirty (30) days (provided that acts to cure the breach or default must be commenced within thirty (30) days and must thereafter be diligently pursued to completion by Owner), then City may, without further notice, declare a default under the terms of this Agreement and may bring any action necessary to specifically enforce the obligations of Owner 3 L\ca\d1rn\Agreements\121 Fern Ave Historic Property Contract.doc