Clayton and City and County of Denver Agreement
Proceeds from Future Sales of Property.
(a) Following the Initial Closing Date, and until such date as the ECE
Funding Goal is achieved, the Trust shall be entitled to seventy-five percent (75%) of the Net
Sales Proceeds from any sales of the Property, and the City shall be entitled to twenty-five
percent (25%) of such Net Sales Proceeds. As used herein, “Net Sales Proceeds” shall mean the
gross sale proceeds, less any brokerage commissions and closing costs, but expressly excluding
any attorneys’ fees or other costs incurred by the City or the Trust in connection with any such
sale
Continue reading →