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RES 2023-044
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04. April
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2023-04-04 10:00 AM - Commissioners' Agenda
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RES 2023-044
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Last modified
4/17/2023 12:52:08 PM
Creation date
4/17/2023 12:52:06 PM
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Template:
Meeting
Date
4/4/2023
Meeting title
Commissioners' Agenda
Location
Commissioners' Auditorium
Address
205 West 5th Room 109 - Ellensburg
Meeting type
Regular
Meeting document type
Fully Executed Version
Supplemental fields
Item
Assignment of Suncadia Resort Development Rights to CIBC Bank on Updated Form
Order
1
Placement
Board Discussion and Decision
Row ID
101490
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CONSENT TO ASSIGNMENT OF RIGHTS <br />WITH R.ESPECT TO DEVELOPMENT AGREEMENT <br />The County hereby consents to the foregoing Assignment by Borrower of the Development <br />Agreement. The County agrees that if Lender gives written notice to the County that an "Event of <br />Default" has occurred under the Loan Agreement, then Lender will have the right, at Lender's option, to <br />assume Borrower's rights and obligations under the Development Agreement. If Lender elects to <br />exercise its rights under the Assignment with respect to the Development Agreement, then the County <br />will perform its duties and obligations under the Development Agreement for the Lender, provided that <br />Lender agrees to perform Borrower's obligations under the Development Agreement. <br />Dated as of r 2023 <br />COUNTY: <br />KITTITAS COUNTY BOARD OF <br />As authorized by Resolution No. J 0 3 3'Ot/ tf <br />Approved As To Form: <br />By: <br />Deputy Prosecuting Attomey <br />Consent to Assignment of Rights with Respect to Development Agreement
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