COLUMBUS COATED FABRICS ECONOMIC DEVELOPMENT AGREEMENT This economic development agreement (this “Agreement”) made this day of March 2008, by and between the City of Columbus, Ohio (the “City”), an Ohio municipal corporation, and Wagenbrenner Development, Inc. (“Developer”), an Ohio Corporation with its principal place of business located at 575 West First Avenue #100, Columbus, Ohio 43215 (collectively, the “Parties”). W I T N E S S E T H: WHEREAS, in order to protect public health, safety and the environment, to remove blight, to create market-rate, affordable and workforce housing, and to improve the economic welfare of the people of the City, the City desires to provide for the redevelopment and revitalization of the former Columbus Coated Fabrics site and adjacent property (the “CCF Property”) situated within the corporate limits of the City, being generally the property outlined on the map that is included herewith and incorporated herein as Exhibit “A”, excluding, however, all legal streets and public rights-of-way within the CCF Property except those portions of such streets and public rights-of-way which may be vacated from time to time; and WHEREAS, the City Council is the governing body and legislative authority of the City; and WHEREAS, on July 24, 2006, the City Council, by Ordinance No1136-06, passed the Weinland Park Neighborhood Plan made a part hereof as Exhibit “B”, which calls for the development of the CCF Property for residential use and other related purposes, including greenspace; and WHEREAS, on October 16, 2006 the City and Campus Partners for Community Urban Redevelopment (“Campus Partners”) entered into a certain Agreement Concerning {H1174745.1 } Decorative Surfaces International, Inc. Site, as amended on March , 2008, which called for the purchase and redevelopment of a 17.4 acre portion of the CCF Property subject to the negotiation of a suitable economic development agreement; and WHEREAS, on March 27, 2007, the City and Campus Partners entered into an Agreement of Understanding through which they jointly filed that certain Clean Ohio Revitalization Fund Application submitted to the Ohio Department of Development on April 2, 2007 (“Grant Application”) with the State of Ohio for a $3,000,000 Clean Ohio Revitalization Fund Grant on April 2, 2007; and WHEREAS, on November 30, 2007 the State of Ohio and the City entered into a Grant Agreement by which it accepted the $3,000,000 Clean Ohio Revitalization Fund Grant (the “Grant”), which Grant Agreement is made a part hereof as Exhibit “C” ; and WHEREAS, subject to the execution of an acceptable agreement, Developer is willing to complete the work described in the Grant Application and the Grant Agreement; and WHEREAS, on December 27, 2007, Developer, by and through its affiliated entity, Weinland Park Development, LLC, an Ohio limited liability company, purchased a 4.1 acre parcel of the CCF Property; and WHEREAS, Developer has evidenced its willingness and ability to cause the redevelopment of major portions, or all, of the CCF Property in the manner desired by the City; and WHEREAS, on March , 2008 Campus Partners, with the consent and release of the City assigned all of its rights, duties and obligations under, respectively, the Agreement Concerning Decorative Surfaces International, Inc. Site dated October 16, 2006, as amended on March , 2008 and the Agreement of Understanding dated March 27, 2007, to Developer; and {H1174745.1 } 2 WHEREAS, the City and Developer both recognize that in order to secure substantial investments by Developer (an estimated $52 million for construction of new housing), it will be necessary for the City to participate in building and maintaining a series of approved and pre-defined improvements to surrounding public areas and public rights-of-way; and WHEREAS, the City and Developer desire to make this Agreement both in order to evidence the terms and conditions pursuant to which Developer will cause the redevelopment of major portions, or all, of the CCF Property, and in order to evidence the mutual agreements and undertakings between the City and Developer; NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained in this Agreement, it is mutually agreed between the City and Developer as follows: 1. Description of the Project. The Project is to consist of two separate and distinct elements: One, the completion of acquisition, demolition, environmental remediation and construction of infrastructure improvements at the CCF Property pursuant to the Clean Ohio Grant Application and Grant Agreement, collectively with the public improvements set forth in Section 12 below, the “Public Work”; and Two, the privately-funded construction of market-rate and/or affordable housing with adjacent greenspace consistent with the general redevelopment concepts contained in the Weinland Park Neighborhood Plan, which was adopted by Columbus City Council on July 24, 2006. The redevelopment concepts will be refined and revised by Developer in consultation with the Weinland Park neighborhood and the City as the Project proceeds. Developer may cause the housing component of the Project to be undertaken or constructed in two or more phases. {H1174745.1 } 3 2. Developer’s Purchase Commitment. No later than three (3) months after the effective date of this Agreement, Developer, by and through its affiliated entity, Weinland Park Development, LLC, an Ohio limited liability company, shall purchase the property described on the attached Exhibit “D” pursuant to the terms of that certain Agreement Concerning Decorative Surfaces International, Inc. Site dated October 16, 2006, and as amended on March , 2008. 3. Commencement of Project. Developer shall commence the Clean Ohio portion of the Project upon the City’s execution of an agreement with Developer for the implementation of the Grant that is reasonably acceptable to Developer, which approval shall not be unreasonably withheld or delayed. 4. Developer’s Commitments. Developer shall cause the construction of the housing and greenspace component of the Project to commence within three months after the necessary completion of the Public Work. Developer agrees to develop the CCF Property and Adjacent Property consistent with the redevelopment concepts proposed in the Weinland Park Neighborhood Plan, as depicted by the Developer’s conceptual site plan made a part hereto as Exhibit “E”. Developer agrees to cause the start of construction on a minimum of 30 residential units on the southern portion of the CCF Property and, pending acquisition of the CPO Properties on Eleventh Avenue, a minimum of 100 rental units, regardless of market conditions; provided that such obligation shall be suspended during any period of time when Developer shall be unable to commence and/or continue construction by reason of governmental requirements or the unreasonable absence of requested permits or approvals. 5. Community Reinvestment Area Real Property Tax Exemptions, Tax Increment Financings and New Community Authority in Support of Redevelopment. {H1174745.1 } 4 (a) Community Reinvestment Area Real Property Tax Exemptions. The City and Developer acknowledge that by City Ordinance No. 1939-2006 passed November 6, 2006, the City created the Weinland Park-University Area F Community Reinvestment Area as depicted as Exhibit “F” which includes the CCF Property and surrounding properties as described in that Ordinance and provides a 100% property tax exemption for up to twelve (12) years for the remodeling of specified residential properties and for fifteen (15) years for the construction of new owner-occupied dwellings, with eligibility for abatement under that Ordinance terminating on December 31, 2011. An ordinance will be submitted by the Development Department to City Council to amend that CRA to provide for 100% real property tax exemptions for fifteen (15) years for new rental housing located on the CCF Property and Adjacent Property, as defined in Exhibit “A”, and to extend that eligibility for exemptions until at least December 31, 2020. Developer will cause to be submitted to the Development Department within two (2) months after the execution of this Agreement a draft of the ordinance. The Development Department will review, make modifications as necessitated by City code, policies or procedures and submit to City Council such an ordinance within 30 days after such submission by Developer. (b) Tax Increment Financing. Reference is made as to the map of the proposed tax increment financing areas attached to this Agreement as Exhibit “G”. An ordinance will be submitted by the Development Department to City Council to cause (a) all “improvements” in the Project to be subject to the provisions of section 5709.41 of the Ohio Revised Code for thirty (30) years in support of the redevelopment of the CCF Property and Adjacent Property, as defined in Exhibit “A”. Developer will submit to the Development Department within two (2) months after the execution of this Agreement a draft of the ordinance. The Development Department will review, make modifications as necessitated by City code, policies or procedures {H1174745.1 } 5 and submit to City Council such an ordinance within 30 days after such submission by Developer. As additional properties are acquired by Developer in the zones designated as Adjacent Property on Exhibit A then these properties will be added to the 5709.41 TIF Area. Proceeds from the R.C. 5709.41 TIF are proposed to pay costs of the redevelopment of the CCF Property for residential use contingent on the TIF area being declared or confirmed as blighted in accordance with the new blight criteria as set forth in section 1.08 of the Ohio Revised Code, and (b) all “improvements” in the portion of the Weinland Park neighborhood (as defined in the Weinland Park Comprehensive Plan) and shown as 5709.40 TIF Area on Exhibit “G” are to be subject to the provisions of section 5709.40 of the Ohio Revised Code for thirty (30) years in support of public improvements as agreed to by the City, with provision in both of these tax increment financings for the payment to the Columbus City School District of an amount equal to the taxes that would have been payed to the School District if the improvements had not been exempted from taxation for purposes of implementing a tax increment financings under those sections. The Development Department agrees to undertake a study of the area north of Eleventh Avenue for purposes of determining the boundaries of a future TIF District which would directly benefit from improvements to Eleventh Avenue and Fifth Avenue and the conversion of Summit and Fourth to two way streets and upon completion of such study to submit an ordinance to City Council to create such TIF District(s) as may be justified and at the City’s sole discretion. In the event that the funding for the public improvements in Section 12 of this Agreement is delayed or postponed for a period of time that allows for any of the 5709.40 TIFS contemplated in this Agreement to generate TIF proceeds, then the TIF proceeds would be {H1174745.1 } 6 applied first to the public improvements described in Section 12 of this Agreement to the extent other City monies are not available to pay those costs. (c) New Community Authority. Developer will cause to be submitted to City Council a petition (the “Petition”) and all attachments required by law to approve the creation under Chapter 349 of the Ohio Revised Code of a new community authority encompassing the CCF Property and Adjacent Property (after Developer makes additional acquisitions in these areas) as defined in Exhibit “A”, for the purpose of reimbursing or financing the Project development and infrastructure based on its “community development charge” and the tax increment financings referred to above. Developer will cause a draft of that Petition and all attachments required by law to be submitted to the Development Department within two (2) months after the execution of this Agreement. The Development Department will review, make modifications as necessitated by City code, policies or procedures and submit to City Council that Petition and all attachments required by law within 30 days of its receipt. 6. Amendment of Agreement. From time to time, and at any time, the size of the CCF Property may be expanded, and this Agreement may in all other respects be amended or modified, by agreement between the City and Developer. It is understood and agreed by the Parties that if the Developer and the Ohio Capital Corporation for Housing are able to reach agreement for the transfer of the housing credits for the housing units shown in the Weinland Park Neighborhood Plan (Exhibit “B”) as Strategic Area 2: 11th Avenue East, then these properties shall become part of the CCF Property for the purposes of this Agreement. 7. Redevelopment in Accordance with Community Development Plan. The Project substantially conforms to the general plan for the City as well as the Weinland Park Neighborhood Plan; and the City Council hereby approves the plan for the Project, as reflected {H1174745.1 } 7 in the general redevelopment concepts described in Exhibit “B”, as the current community development plan for the area in which the CCF Property is situated. . 8. Initiation of Zoning Legislation by the City. Whenever it is impracticable or impossible for Developer to apply for any zoning legislation needed for the redevelopment of the CCF Property as outlined in Section 1 (Description of the Project), the Department of Development shall consider such action. It is Developer’s plan to keep the existing zoning and use variances to accomplish the general redevelopment concepts described in Exhibit “B” and once the project has neared completion then Developer agrees to apply for zoning to applicable standards. 9. Cooperation of the City in Obtaining Variances and Approvals. At its sole discretion, the City shall cooperate with, and join with, Developer in executing and prosecuting to completion, at Developer’s cost and expense for third-party costs, such applications for such orders, variances, regulations and approvals of or by any governmental or regulatory authorities as may be (a) consistent with the redevelopment concepts for the Project, (b) in the opinion of Developer, necessary or desirable for the redevelopment of the Project in accordance with the provisions of this Agreement, and (c) not injurious to the public health, peace and safety. Final approvals and passage of Council variances are at the sole discretion of Columbus City Council. 10. Adjacent Zoning and Land Use. The City shall continue to provide Developer with copies of all applications to the University District Commission for any changes in the land-use or zoning classification of all properties in Weinland Park. 11. Design Agreement. The City shall promptly enter into a fully assignable capital improvements project Design Agreement (the “Design Agreement”) made a part hereto as {H1174745.1 } 8 Exhibit “H” with Developer, in a form and content approved by the City and by Developer, which approvals shall not be unreasonably withheld or delayed. The Design Agreement shall provide (a) that Developer would hire an Engineer to undertake and complete, on a timeframe consistent with the needs of the Project, all of the design aspects for the Public Improvements Area contained in Exhibit “I”, (b) that all of the contracts for professional services needed in connection with the design aspects of the Public Improvements Area shall be subject to the prior approval of the City, which approval shall be in the City’s sole discretion), (c) that the Engineer shall make all of such design work available to the City for approval as such design work is completed, which the City will review and approve within 60 days (60 days refers to the time the plans are under comment by the City and does not include Engineer revision time) which approval shall be in the City’s sole discretion, but in keeping with the City’s applicable standards and policies, and (d) that the City shall reimburse Developer for all Cost (in the form of progress payments as the costs and expenses are incurred) for, all of the Engineer’s design costs and expenses (including, but not limited to, architectural and engineering fees, other professional fees excluding attorneys’ fees, and incurred in undertaking and completing such design work, estimated to be $632,302 and anticipated to be part of the 2008 Capital Improvement Budget, provided the obligation of the City to undertake and pay for the design work is expressly contingent on the passage of such ordinances of City Council as are necessary to appropriate and authorized the expenditure of such funds and the certification of the City Auditor as required by Section 159 of the Columbus City charter. 12. Improvements to Surrounding Public Areas and Public Rights-of- Way to be Built Under a Capital Improvements Project Development and Reimbursement Agreement. In order to provide for the efficient construction of certain necessary public {H1174745.1 } 9 improvements to, on, over, and under the CCF Property and the portions of the streets, sidewalks, and intersections abutting the CCF Property (the “CCF Public Improvements Area”) as described in attached Exhibit “I”, and in order to coordinate the construction of such public improvements with the private construction of the Project, the City shall, within 90 days of approved design work, enter into a fully assignable capital improvements project Development and Reimbursement Agreement (the “D & R Agreement”) with Developer (with Developer or its assignee being designated herein as the “Contractor”) in a form approved by the City and by the Contractor, which approvals shall not be unreasonably withheld or delayed. The D & R Agreement shall provide that the Contractor shall undertake and complete the “Public Improvements Work” contained in Exhibit “J” and the “Public Utilities CIP Funded Construction” contained in Exhibit “K” in the CCF Public Improvements Area, and that the City shall reimburse the Developer (in the form of progress payments as the costs and expenses are incurred) for all costs and expenses (including, but not limited to, testing and inspection fees (Out of the $10.65 million to be authorized for expenditure for the D&R Agreement the City shall set aside funds in the ordinance authorizing the D&R Agreement an amount for City construction services to be held by the City and deposited into a city account designated for the work. When inspection services are performed, payment shall be made from that account to the Development Services Fund upon receipt of a proper invoice by Public Service. Any funds remaining in the account after completion and acceptance of the improvement shall be available to reimburse Developer for approved costs associated with the Public Improvements Work, bond premiums, insurance premiums, demolition costs, hard construction costs, permit fees, construction management, environmental remediation costs- all of which eligibility will be determined at the sole discretion of the City; ineligible costs will be paid for or reimbursed by {H1174745.1 } 10 Developer or another interested party, however, all contemplated improvements in Exhibit “J” are eligible costs) incurred in undertaking and completing the public improvements work up to a total of 12.85 Million Dollars ($12,850,000) including design costs and the Public Utilities CIP Funded Construction, Exhibit K, provided the obligation of the City to undertake and pay for the Public Improvements Work is expressly contingent on the availability of funds and the passage of such ordinances by City Council as are necessary to appropriate and authorized the expenditure of such funds and the certification of the City Auditor as required by Section 159 of the Columbus City charter. Under the provisions of this Agreement and any future D & R Agreement, the City shall not be obligated to pay and/or reimburse the Developer until after Developer has entered into a contract or other agreement for the construction of the housing element of the Project. Said contract or agreement shall be consistent with Section 4 hereof and contain construction timelines aligned with this Agreement or as agreed to by the City and Developer. The City shall, in accordance with the provisions of the D & R Agreement, be responsible for the maintenance and repair (only to the extent of, and in accordance with, the City’s applicable standards and policies) of the Public Improvements Work undertaken and completed by the Contractor only after the City has accepted the Public Improvements Work 13. Traffic Circulation Study. The City will complete a Circulation Study consistent with the one completed in the Linden Area in 2006 and the Franklinton Area in 2007. The Circulation Study among other tasks, will study the return of both Summit and Fourth Street to two-way streets with parallel parking and signalization of 11th and 5th Avenues at Grant. If the Circulation Study does not support signalization and/or the two-way conversion of Summit and Fourth Street under currently acceptable traffic principles and policies, then the City agrees to {H1174745.1 } 11 consider in the long-term, to employ any and all traffic calming devices on those streets so as to slow traffic to speeds normally seen on those streets as if they were two-way and parallel parked. The implementation of any traffic maintenance, control or calming device is subject to the availability of funding through the City’s capital improvement planning process and the approval of City Council. The City reserves discretion in interpreting the findings of the study and implementation of any traffic control measures. 14. Availability of Water and Sewer. With needed construction beginning appropriately in advance of, or in conjunction with, the initial housing construction of the Project, the City shall provide, on a timeframe consistent with the needs of the Project and at established usage rates, all public water, sanitary sewer, and storm sewer services in sufficient capacity to serve the respective needs of the Project. Within the CCF Property as it may be constituted from time to time, Developer shall have the obligation of providing, at its own expense, the needed on-site private water and sewer service lines (laterals) having sufficient capacity to accept the services provided by the City. 15. Credit for Tap Fees. The City will complete an audit of all properties in the boundaries of the CCF Property, as depicted on Exhibit “A”, to determine all existing water and sanitary taps by the earlier of August 15th or 180 days from the execution of this Agreement. Tap and Capacity fees will be combined to provide an aggregate credit in accordance with City policies. 16. Municipal Electric Service. If the City timely makes a proposal to Developer for the provision of municipal electric service to the Project, such proposal shall be given due consideration by Developer. Within the CCF Property, Developer shall have the obligation of providing at its own expense the needed on-site private electric lines having {H1174745.1 } 12 sufficient capacity to accept any municipal electric service provided by the City. 17. Coordination of Other Utility Services. Although the City shall not be obligated to insure the availability of other non-City utility services, the City shall, in cooperation with Developer, coordinate the provision of its utility services with the provision of other utility services by other providers, including, but not limited to, natural gas, cable, high- speed internet access, telephone, and private electric. Furthermore, the City will allow private utility crossings where needed and coordinated through public right-of-ways and subject to City regulations. 18. Vacation of Secondary Streets and Sidewalks. Upon receipt of a written request from Developer, the Department of Public Service shall, to the extent permitted by law (and provided it shall not constitute a taking of access under Ohio law) and after normal review by appropriate agencies, submit an ordinance to City Council to vacate and transfer to Developer, at no cost to Developer, (a) any part of any secondary street, alley, or other municipal right-of-way which passes through the CCF Property and which divides land owned or to be owned by Developer, and (b) any part of any sidewalk in the CCF Property or the CCF Public Improvements Area not needed for safe pedestrian movement; provided, however, that nothing herein shall require the City to vacate and transfer any public right of way that has been improved pursuant to Section 12 hereof, or any vacation which would impair the public health, peace and safety, and that the City may retain all easements, including utility easement it deems necessary and other rights needed to protect the public health, peace and safety. 19. Parkland Acceptance and compliance with Parkland Dedication Fees. Subject to City Council and Recreation and Parks Commission approval of the size and location the City agrees to accept title to the Parks within the CCF Property and Adjacent Property shown {H1174745.1 } 13 on Exhibit “A” that Developer dedicates to the City and agrees to maintain these parks in a fashion similar to other urban neighborhood parks (Schiller, Goodale, Harrison West). It is understood, the design and development of the Park(s) within the CCF site shall be the responsibility of Developer and that no CIP funding from the Columbus Recreation and Parks Department will be available. Design and construction shall be with the approval of all plans by the Columbus Recreation and Parks Department. Once the Parks have been dedicated, subject to an ordinance authorizing a maintenance agreement, the City will permit condominium associations and/or the Weinland Park neighborhood to enhance the maintenance of the Park including its lawn areas, flower beds and any other improvements, so long as the enhanced maintenance is done on a voluntary basis and cost of the enhanced maintenance is born by the association or neighborhood. The acreage for parkland dedicated to the City of Columbus and development costs shall be credited to any requirements of the Parkland Dedication Ordinance Chapter 3318. 20. Policing by the City. In providing the necessary policing of the CCF Property, the City shall continue its cooperation with locally based community policing and shall continue its commitment to community policing. In addition, the City shall consider the Weinland Park neighborhood as an area for any new safety or policing pilots that the City may initiate in the future including the use of neighborhood security cameras. 21. Project Coordinators. In order to best facilitate the construction of the Project, the City and Developer shall each designate, from time to time, one authorized individual who shall serve as that entity’s lead representative and Project Coordinator in all matters relating to the construction of the Project. 22. Weinland Park Neighborhood Revitalization Collaboration. The City {H1174745.1 } 14 shall collaborate with Developer to consider further the revitalization of the adjacent Weinland Park neighborhood in accordance with the Weinland Park Neighborhood Plan. 23. Employment and Economic Development Initiatives. Developer, working through established social service agencies and employment service providers, shall use good faith efforts to link both the construction employment opportunities and any commercial employment opportunities created by the Project with the employment needs/programs of the residents of neighborhoods in the vicinity of the CCF Property. 24. Procedures for Service of Notice. All notices and other communications required or permitted to be given or delivered under this Agreement by the City or Developer, which notices or communications shall be in writing, shall be mailed, postage prepaid, addressed as follows: (A) If to the City, to: Director of Development 50 W. Gay St. Columbus, Ohio 43215 with a copy to: City Attorney of Columbus Columbus City Hall Broad and Front Streets Columbus, Ohio 43215 (B) If to Developer, to Mark A. Wagenbrenner Wagenbrenner Development, Inc. 575 West First Avenue #100 Columbus, OH 43215 {H1174745.1 } 15 with a copy to: Joseph M. Reidy Schottenstein, Zox & Dunn Co., LPA 250 West Street Columbus, Ohio 43215 The City and Developer may, by notice received by the other, from time to time and at any time designate a different or additional address or addresses for the giving of notices or other communications to the party designating such new address. Any notice or communication required or permitted to be given in accordance with this Agreement shall be deemed to have been given when the same shall have been placed in the mail, postage prepaid, addressed in accordance with the foregoing provisions. 25. Authority of Officials and Officers. Whenever in this Agreement a matter is subject to the action, approval, concurrence, cooperation or agreement of the City, the City’s initiation or exercise of such right or duty shall be by the appropriate City official or body charged with authority in the matter (or the official or body designated in this Agreement) unless this Agreement or any applicable law otherwise requires. Whenever in this Agreement a matter is subject to the action, approval, concurrence, cooperation or agreement of Developer, Developer’s initiation or exercise of such right or duty shall be by the appropriate officer of the Developer charged with authority in the matter (or the officer designated in this Agreement) unless this Agreement or any applicable law otherwise requires. 26. Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the respective successors and assigns (including successive, as well as immediate, successors and assigns) of the City and Developer. Developer may not assign this Agreement to any person, other than an affiliated entity of Wagenbrenner Development, Inc., {H1174745.1 } 16 without the prior written consent of the Director of Development, which consent shall not be unreasonably withheld or delayed. The City and Director of Development have identified Weinland Park Reinvestment Corp. and Weinland Park Development, LLC, affiliates of Wagenbrenner Development, Inc., as acceptable developers for the Project, to whom Developer may assign all of its rights, duties and obligations of this Agreement, provided however, that neither Developer, nor Weinland Park Reinvestment Corp., nor Weinland Park Development, LLC, may make any other assignment of this Agreement, or any part hereof, without the prior written consent of the Director of Development, which consent may be withheld in his sole discretion, and provided further, that any assignment by Developer, Weinland Park Reinvestment Corp., and Weinland Park Development shall not relieve them, or any of them, from their obligations to complete the Project and to perform all the terms and conditions of this Agreement. 27. Estoppel Certificates. Either party shall, within fifteen (15) days of written request by the other, provide a certificate in writing executed by the first party confirming such matters under this Agreement as may be reasonably requested by the requesting party including, but not limited to, whether or not this Agreement is in full force and effect and the status of each party’s obligations hereunder. 28. Governing Law and Forum. This Agreement shall be governed by and construed in accordance with the laws of the State of Ohio, and any dispute between the parties shall be submitted to a court of competent jurisdiction in Franklin County, Ohio. 29. Remedies Cumulative. All rights and remedies of the City enumerated in this Agreement shall be cumulative and, except as specifically contemplated otherwise by this Agreement, none shall exclude any other right or remedy allowed at law or in equity, and such {H1174745.1 } 17 rights or remedies may be exercised and enforced concurrently. The rights and remedies of Developer and its assigns shall be expressly limited to the actual costs incurred by Developer and its assigns in the design and construction of the Project, as set forth in this Agreement, or as set forth in any subsequent Agreement between the parties including any modification hereof. In no event, however, shall any right or remedy exceed such sums in the aggregate as shall first have been authorized and appropriated by Columbus City Council and certified by the Columbus City Auditor pursuant to the Charter and Ordinances of the City of Columbus. Such limitations shall survive the completion of Developer’s obligations set forth in this Agreement, and shall be included in any subsequent Agreement between the parties. No waiver by the City or by Developer of any covenant or condition or of the breach of any covenant or condition of this Agreement to be kept or performed by the other party shall constitute a waiver by the waiving party of any subsequent breach of such covenant or condition or authorize the breach or nonobservance on any other occasion of the same or any other covenant or condition of this Agreement. 30. Duplicate Originals. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be a duplicate original, but all of which, taken together, shall constitute a single instrument. 31. Headings. The headings contained in this Agreement are included only for convenience of reference and do not define, limit, explain or modify this Agreement or its interpretation, construction or meaning and are in no way to be construed as a part of this Agreement. 32. Provisions Separable. If any provision of this Agreement or the application of any such provision to any person or any circumstances shall be determined to be {H1174745.1 } 18 invalid or unenforceable, then such determination shall not affect any other provisions of this Agreement or the application of such provision to any other person or circumstance, all of which other provisions shall remain in full force and effect; and if any provision of this Agreement is capable of two constructions, one of which would render the provision void and the other of which would render the provision valid, then such provision shall have the meaning which renders it valid. 33. Records, Audits, and Inspections. Developer and its assigns shall establish and maintain for at least five (5) years from the later of the Project Completion Date or the termination of this Agreement all records related to the Public Work including, but not limited to, agreements, contracts and sub-contracts, tax and financial information, supporting documentation for distribution and payment requests, and correspondence in whatever format or media such information may be kept. Developer and its assigns authorize the City Auditor to inspect all such records and information that the Auditor, or designee, in his sole discretion, may deem necessary or appropriate, without, however, waiving the attorney-client or work product privileges. At any time during normal business hours, upon prior reasonable written notice, and as often as the City Auditor may deem reasonably necessary, Developer and its assigns shall make available to the City Auditor, or his designee, for examination, access to the CCF Property and to all of the records of Developer and its assigns with respect to the Public Work, and the Auditor or his designee shall be entitled to copy all or any part of such records and other information as he deems necessary or appropriate, in his sole discretion. 34. Prevailing Wage. In relation to the Public Work set forth in this Agreement, Developer agrees to abide by (or cause its contractors to abide by) the prevailing wage requirements of Chapter 4115 of the Ohio Revised Code (the “Prevailing Wage {H1174745.1 } 19 Requirement”). This provision shall apply for all subcontracts for services procured by Developer or its general contractor, as applicable, for the Public Work as described in this Agreement. “Prevailing Wage Coordination” shall mean verification that the contracts and subcontracts related to the Public Work comply with the Prevailing Wage requirement. In the event that the State of Ohio (“the State”) performs Prevailing Wage Coordination with respect to the Public Work, written evidence of compliance with the Prevailing Wage Requirement, issued by the State (the “State Prevailing Wage Notice”), shall be deemed sufficient for purposes of satisfying the Prevailing Wage requirement. In the event the State will not perform Prevailing Wage coordination for the Public Work, the City may undertake such Prevailing Wage Coordination and the cost of such Prevailing Wage Coordination shall be at Developer’s cost, which shall not be part of any amount authorized by Columbus City Council to be reimbursed. If undertaken by the City, and upon verification of compliance with the Prevailing Wage Requirement, the City shall issue notice of such compliance (the “City Prevailing Wage Notice”). 35. City Income Tax Withholding. Developer hereby further agrees to withhold, or to cause its general contractor and all subcontractors to withhold, all City Income Taxes due to payable under the provisions of Chapter 361, Columbus City Codes, 1959, for wages, salaries and commissions paid to employees in connection with the construction of the Project. 36. Equal Opportunity Clause. The Developer, contractor, subcontractors and their respective agents will not discriminate against any employee or applicant for employment because of race, color, religion, sex or national origin. The Developer, contractor, {H1174745.1 } 20 subcontractors and their respective agents will take affirmative action to ensure that applicants are employed and that employees are treated during employment without regard to their race, color, religion, sex or national origin. Such action shall include, but not be limited to, the following: employment, upgrading, demotion, or termination; rates of pay or other forms of compensation; and selection for training. The Developer, contractor, subcontractors and their respective agents agree to post in conspicuous places, available to employees and applicants for employment, notices summarizing the provisions of this Equal Opportunity Clause. (a) The Developer will, in all solicitations or advertisements for employees placed by or on behalf of the contractor, state that the contractor is an equal opportunity employer. (b) It is the policy of the City that business concerns owned and operated by minority and female persons shall have the maximum practicable opportunity to participate in the performance of contracts awarded by the City. The Developer shall permit access to any relevant and pertinent reports and documents by the Administrator for the sole purpose of verifying compliance with this paragraph, and with the regulations of the Contract Compliance Office. All such materials provided to the Administrator by the Developer shall be considered confidential. In addition, pursuant to Title 39 of the Columbus Code, Section 3907.06, where invitations for bids are advertised, the following notice shall be included in the advertisement: Each responsive bidder shall submit, with its bond, a contract compliance certification number of a completed application for certification. (c) The Developer and each subcontractor will include a summary of this equal opportunity clause in every subcontract. The subcontractor will take such action with respect to {H1174745.1 } 21 any subcontract as is necessary as a means of enforcing the provisions of the equal opportunity clause. (d) The Developer will not obstruct or hinder the Administrator or his deputies and assistants in the fulfillment of the duties and responsibilities imposed by Article I, Title 39 of the Columbus City Code. (e) The Developer agrees to refrain from subcontracting any part of this Agreement, or modification(s) thereto, to a contractor not holding a valid certification number as provided for in Article I, Title 39 of the Columbus City Code. (f) Failure or refusal of the Developer of subcontractor to comply with the provisions of Article I, title 39, may result in cancellation of this Agreement. 37. Approvals by City Council and City Auditor. Pursuant to Sections 27, 30 and 159 of the Columbus City Charter, no obligation of the City involving the expenditure of money pursuant to the terms of this Agreement shall be enforceable against the City unless the City Council first shall have appropriated and authorized the expenditure of funds for the same, and the City Auditory (the “City Auditor”) shall have certified that the money required for such contract, agreement, obligation or expenditure is in the City Treasury to the credit of the fund from which it is to be drawn and has not been appropriated for any other purpose. 38. Entire Agreement. This Agreement constitutes the entire agreement between the City and Developer in respect to the subject matter hereof, and this Agreement supersedes any other prior and contemporaneous agreement between the City and Developer in connection with the subject matter of this Agreement. No officer, employee or other servant of the City, or of the Developer is authorized to make any representation, warranty or other promise not contained in this Agreement. No change, termination or attempted waiver of any of the provisions of this {H1174745.1 } 22 Agreement shall be binding upon the City or the Devloper unless in writing and signed by the party affected. IN WITNESS WHEREOF, the parties have hereunto subscribed their names on the day and year first aforesaid. CITY OF COLUMBUS, OHIO By Boyce Safford, Director Department of Development WAGENBRENNER DEVELOPMENT, INC By Mark A. Wagenbrenner, President Approved as to Form: APPROVED AS TO FORM Richard C. Pfeiffer, City Attorney {H1174745.1 } 23