Board Of Aldermen

to exceed sixty (60) days after commencement of the cure). If Developer is not able to
cure the material default during the applicable cure period, then City will be entitled to
terminate this Agreement and receive all of Developer's non-confidential work product
regarding the Project, including the Project Design Drawings, and Development Plan
(collectively, the "Liquidated Damages"). The Parties hereby agree that the Liquidated
Damages are intended to be and will be the full liquidated damages for the Developer’s

this Agreement shall be measured and interpreted in accordance with such standard of
performance.

b) The comprehensive development plans which are generally consistent
with the description of the City’s vision and objectives for the Project as described in the
RFP and this Agreement (the “Development Plan”) shall include a general description of
all proposed development of the Project and required infrastructure improvements,
including, but not limited to, its design and construction. The Development Plan shall
also include the following:

provided Developer's submissions, requests and applications are complete, include all
necessary fees and are otherwise compliant with applicable laws and ordinances.

2.3 Property Documents. The City represents to Developer that City has
delivered all the following documents and information regarding the Property to

Developer in the City's possession (collectively, the “Property Documents”):

a) All boundary or other physical surveys;

(ii) Approval by City of the Development Plan and Project Design
Drawings in accordance with established procedures;

(iii) | Developer obtaining all applicable financing commitments at rates
and terms typically found in the Nashua, New Hampshire market; and

NOW, THEREFORE, based upon the terms and conditions set forth in this
Agreement and in consideration of the mutual promises and assurances provided in this
Agreement, City and Developer hereby agree that the Recitals as stated above are
incorporated herein and made a part of this Agreement and the following terms:

ARTICLE II: TERMS

2.1 Purchase of Property.

1.5 Developer submitted its response to RFP on March 30, 2017 (the
Proposal”), and after being selected by the City has worked with the City to develop a
mutually agreeable Project concept.

1.6 Developer intends to develop the Project to comprise a 160,000 square
foot building comprising approximately 150 apartments and related improvements, all in
one single phase.

1.7 The Project is depicted more specifically on the “Project Design
Drawings” (defined below).

MASTER DEVELOPMENT AGREEMENT
BY AND BETWEEN
LANSING MELBOURNE GROUP, LLC, a Florida limited liability company
AND

CITY OF NASHUA, NEW HAMPSHIRE

Effective Date:

TABLE OF CONTENTS

Page

ARTICLET. RECITALS 2
ARTICLE I. TERMS 3
ARTICLE Il. DEFAULTS 8
ARTICLE IV. MISCELLANEOUS 9
SCHEDULE OF EXHIBITS
EXHIBIT A Property Description
EXHIBIT B Development Plan

EXHIBIT C Board of Alderman Approving Resolution

RESOLUTION:

PURPOSE:

ENDORSERS:

COMMITTEE
ASSIGNMENT:

FISCAL NOTE:

LEGISLATIVE YEAR 2020

R-20-028

Authorizing the City of Nashua to enter into a Master
Development Agreement with Lansing Melbourne Group,
LLC

Mayor Jim Donchess

Alderman-at-large Michael B. O’Brien, Sr.
Ajiderman-at-large David C. Teneza
Alderman Richard A. Dowd