2021-02-25 Special Meeting Agenda

SPECIAL MEETING AGENDA   25 FEBRUARY 2021




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SPECIAL MEETING AGENDA                                                             25 FEBRUARY 2021

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               6.      Development Obligations
               6.1     Developer's obligations
                       (a)   In the event that the Development Application is approved, takes
                             effect and is acted upon, the Developer is to comply with the
                             Development Obligations in Schedule 2 in accordance with the timing
                             set out in Schedule 2.
                       (b)   For the avoidance of doubt, the monetary values identified in column
                             4 of Schedule 2 for the Work Contributions are estimated values only.
                             The specifications identified in column 3 of Schedule 2 for the Work
                             Contributions are required to be achieved by the Developer.    If they
                             are achieved at a monetary cost less than the identified estimated
                             value, the Developer is entitled to take the benefit of that cost saving
                             and is not required to make further contribution in relation to that Work
                             Contribution.

               6.2     Assignment of interests, rights or obligations under document
                       The Developer may not, either absolutely or by way of security, assign its
                       interests, rights or obligations under this document:
                       (a)  without the written consent of the Council; and
                       (b)  in amanner which is inconsistent with the provisions of this document.

               7.      Works Bond
               7.1     Works Bond
                       Prior to the Development Approval being acted upon, the Developer must
                       provide to the Council the Security for all uncompleted Works Contributions
                       in Schedule 2.

               7.2     The Council may call on the Security if the Works Contributions are not
                       completed in the time specified in Schedule 2.
               7.3     If the Council calls on the Security, it may only apply the Security for the
                       following purposes:
                       (a)  completing the uncompleted Works Contributions; or
                       (b)  any administrative costs incurred by the Council in completing the
                            uncompleted Works Contributions.

    Document Set ID: 21379346
    Version: 1, Version Date: 27/01/2021

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