Agenda Reports Pack (Public) 15/10/2012, 19.00 - Meetings ...

Agenda Reports Pack (Public) 15/10/2012, 19.00 - Meetings ... Agenda Reports Pack (Public) 15/10/2012, 19.00 - Meetings ...

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4.4 to consult with the Council in relation to such part of the Development as may relateto the CPO and provide to the Council all information it may reasonably require todischarge its obligations under this Agreement; and4.5 at its own cost to provide support and all reasonable assistance that the Council mayrequest to support the CPO including giving or procuring the giving of evidence atany public inquiry or judicial review of the CPO.5 Third Party Interests etcThe Developer covenants with the Council:5.1 to use its reasonable endeavours to negotiate terms by private treaty to acquire allThird Party Interests and New Rights in accordance with the provisions of theAcquisitions Schedule and the Council shall use its reasonable endeavours to assistthe Developer;5.2 to assist the Council to secure payment of CPO Costs due to claimants at the earliestpracticable time by:5.2.1 negotiations and settlements on Compensation Code terms in good faith;[5.2.2 seeking early resolution of disputes through mediation or arbitration; and5.2.3 referring relevant disputes to the Upper Tribunal (Lands Chamber) as soon asit becomes apparent negotiations or mediation are unlikely to secure a settlement; and5.2.4 seeking to mitigate loss and hardship to persons likely to be displaced byreason of the compulsory acquisition of their property by assisting with plannedrelocation to alternative premises either within the Development Site or in the vicinityof the CPO Lands where such relocation can be facilitated by early settlement ofclaims (or future claims) under the Compensation Code.6 Surety6.1 In addition to the indemnity contained within paragraph 4, the Developer shallprovide the Council (if so requested) with a Surety as provided for in this paragraph 66.2 The Council may require a Surety to cover the extent of its prospective liability duringthe following stages of the CPO process:6.2.1 from the date of [this Agreement][the resolution to make the CPO] in relationto the estimated costs of preparing, publishing and submitting the CPO forconfirmation and preparing for and appearing at a public inquiry (including the risk ofcosts at a public inquiry) in the initial sum of [£500,000] [or such higher reasonablesum as the Council may reasonably specify from time to time];6.2.2 from the date the Council makes the CPO an additional sum representing [onehundred and twenty (120) per cent] of the Referencing Agent’s estimate of theL1.040-CPO-CPOIA.v2.224Page 107

liability for CPO Costs in relation to the risk that all of the owners and occupiers ofthe CPO Lands who are entitled to serve a Blight Notice were to serve a Blight Noticein respect of their respective interests and on the assumption that none of such BlightNotices could be rejected or such higher reasonable sum as the Council mayreasonably specify from time to time having regard to the Compensation Assessment;and6.2.3 on the date on which the Developer requests the Council to make a GeneralVesting Declaration in respect of any outstanding interests in the CPO Lands anadditional sum (if any) which represents the amount by which the Council'sreasonable and proper estimate of the CPO Costs in relation to all such outstandinginterests in the CPO Lands exceeds the Surety then in place under paragraph 2 above.6.3 On each payment of CPO Costs the Council shall reduce the amount of Suretyrequired in the following manner:6.3.1 during the period in which a Surety is in place under paragraph 6.2.2 to theCouncil's reasonable estimate of the outstanding risk for CPO Costs in relation to theoccupiers of the CPO Lands who are entitled to serve a Blight Notice except thatinterest in respect of which the payment of CPO Costs was made;6.3.2 during the period in respect of which a Surety is in place under paragraph6.2.3 to the Council's reasonable estimate of the outstanding risk for CPO costs inrelation to all CPO Interests except that in respect of which the payment of CPO Costswas made; and6.3.3 where any payment of CPO Costs is not a full and final settlement of the claimin respect of the interest in the CPO Lands to which it relates, the risk of any furtherpayment in respect of that interest shall be taken into account in the Council'sestimates under paragraphs 6.2.2 and 6.2.3.6.4 The Council shall immediately release the Surety when the Council is reasonablysatisfied that full and final settlement of all CPO Costs has been made and give noticeto the Developer and the Surety upon settlement occurring6.5 Upon the Developer’s written request the Council shall release the person providingthe Surety from the same if the Developer is able to procure a replacement person thatin the Council's reasonable opinion provides an equivalent or better Surety for theDeveloper’s then liabilities under this Agreement6.6 [For the avoidance of doubt the Developer's liability at all times shall extend to thefull CPO Costs whether or not that liability exceeds the amount of any Surety requiredby the Council at that time and the Surety shall not be released by the termination ofthis Agreement following an Event of Default other than by a notice of release givenby the Council]7 Disputes not to delay payment or surety7.1 The Developer shall pay to the Council all and any CPO Costs or Outgoings on thedate it is due whether or not there is any Dispute over the amount due and theL1.040-CPO-CPOIA.v2.225Page 108

4.4 to consult with the Council in relation to such part of the Development as may relateto the CPO and provide to the Council all information it may reasonably require todischarge its obligations under this Agreement; and4.5 at its own cost to provide support and all reasonable assistance that the Council mayrequest to support the CPO including giving or procuring the giving of evidence atany public inquiry or judicial review of the CPO.5 Third Party Interests etcThe Developer covenants with the Council:5.1 to use its reasonable endeavours to negotiate terms by private treaty to acquire allThird Party Interests and New Rights in accordance with the provisions of theAcquisitions Schedule and the Council shall use its reasonable endeavours to assistthe Developer;5.2 to assist the Council to secure payment of CPO Costs due to claimants at the earliestpracticable time by:5.2.1 negotiations and settlements on Compensation Code terms in good faith;[5.2.2 seeking early resolution of disputes through mediation or arbitration; and5.2.3 referring relevant disputes to the Upper Tribunal (Lands Chamber) as soon asit becomes apparent negotiations or mediation are unlikely to secure a settlement; and5.2.4 seeking to mitigate loss and hardship to persons likely to be displaced byreason of the compulsory acquisition of their property by assisting with plannedrelocation to alternative premises either within the Development Site or in the vicinityof the CPO Lands where such relocation can be facilitated by early settlement ofclaims (or future claims) under the Compensation Code.6 Surety6.1 In addition to the indemnity contained within paragraph 4, the Developer shallprovide the Council (if so requested) with a Surety as provided for in this paragraph 66.2 The Council may require a Surety to cover the extent of its prospective liability duringthe following stages of the CPO process:6.2.1 from the date of [this Agreement][the resolution to make the CPO] in relationto the estimated costs of preparing, publishing and submitting the CPO forconfirmation and preparing for and appearing at a public inquiry (including the risk ofcosts at a public inquiry) in the initial sum of [£500,000] [or such higher reasonablesum as the Council may reasonably specify from time to time];6.2.2 from the date the Council makes the CPO an additional sum representing [onehundred and twenty (120) per cent] of the Referencing Agent’s estimate of theL1.040-CPO-CPOIA.v2.224Page <strong>10</strong>7

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