07-23-14 Meeting of the La Porte Redevelopment Authority minutes

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amounts payable to it pursuant to the Existing Agreement shall be reduced by operation of Section 3.2 of this Agreement in the amount of the Escrow Deposit, _and =fj)=gla=Dgyd2pgL,& ARTICLE 4 DEFAULT If the Authority or the Zone does not perform its obligations hereunder in compliance with this Agreement in all material respects, in addition to the other rights given the Owner under this Agreement, the Owner may enforce specific performance of this Agreement for any such default if such default is not cured or is not commenced and diligently pursued within thirty (30) days after receipt by the Authority and the Zone of a written notice detailing the event of default. Failure of a project to generate sufficient tax increment increase to repay Owner Advances is not a default on the part of the Authority or the Zone. 0- M- M- Lei Big 131 IM-A 9 5.1 Nisonal Liability of Pliblic Officials. To the extent permitted by State law, no director, officer, employee or agent of the Zone or the Authority, and no officer, employee or agent of the City, shall be personally responsible for any liability arising under or growing out of the Agreement. 5.2 Notices. Any notice sent under this Agreement (except as otherwise expressly required) shall be written and mailed via certified mail, return receipt requested, or sent by electronic or facsimile transmission confirmed by mailing written confirmation via certified mail, return receipt requested at substantially the same time as such electronic or facsimile transmission, or personally delivered to an officer of the receiving party at the following addresses: ZONE Reinvestment Zone Number One, City of La Porte, c/o City of La Porte 604 West Fairmont Parkway LaPorte, Texas 77571 Attn: FAX: (281) 471-2047 AUTHORITY La Porte Redevelopment Authority c/o City of La Porte 604 West Fairmont Parkway LaPorte, Texas 77571 Attn: FAX: (281) 471-2047 7 H0U:34-54M4-,7J4J4JUA