10-01-03 La Porte Redevelopment Authority Meeting minutes

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8/20/2003 4.8 Design and Completion of Public Improvements prior to Effective Date. Prior to the effective date of this Agreement, the Developer has committed and expended funds in amounts for Public Improvements described in Exhibit B, in reliance upon the City's commitment to establish the Zone and the La Porte Authority's commitment to payor reimburse such costs in accordance with the terms herein, but no other contract has heretofore been entered into by the Developer with the La Porte Authority or the La Porte Zone to provide for such expenditures and reimbursement. The Developer represents that the fair market value of the work and property resulting from the funds so committed or expended and benefiting the La Porte Authority and the La Porte Zone is at least equal to the amounts so committed and expended, respectively. In order to compromise and settle all claims the Developer may have arising out of any failure by the La Porte Authority and La Porte Zone to reimburse funds heretofore expended by the Developer for such Public Improvements, by entering into this Agreement, );> the La Porte Authority and the La Porte Zone agree to reimburse the Developer for Project Costs of such Public Improvements paid or incurred prior to the date hereof in a total amount of committed funds specified in Exhibit B plus financing costs and/or interest as set forth in Section 6.1 below, attributable thereto in accordance with and subject to the other provisions hereof, without admitting liability of any kind on their part, and );> the Developer releases and discharges the La Porte Authority and the La Porte Zone from all claims of any nature the Developer might make, now or in the future, arising out of any failure by the La Porte Authority and La Porte Zone to payor reimburse the Developer for any other work done prior to the date hereof or in any greater amount or on any other conditions for work performed in connection with Public Improvements prior to the date hereof. 4.9 Changes in Proiect. The Developer shall not make any change in the Project as to the uses of the property within the Residential Site or change the boundaries within the Project Site without the express written consent of the City, the La Porte Board and the Zone Board. 4.10 No Vested Rights. The Developer expressly understands and agrees that neither this Agreement nor any approvals required herein shall be construed as a "permit," as defined in Section 245.001 of the Texas Local Government Code, or an application therefore; and, as such, the Developer has no vested right as a "permit" in any order, regulation, ordinance, rule, expiration date or other requirement in effect at the time of execution of this Agreement or at the time any approval pursuant to the terms hereof is obtained. To this end, Developer, for itself, its officers, agents, employees, successors and assigns, hereby releases and holds harmless the City, the La Porte Authority and the La Porte Zone from any claim or cause of action involving vested rights, including, but not limited to, such a right claimed pursuant to Chapter 245 of the Texas Local Government Code, arising out of this Agreement or the approvals required to be obtained herein. 8