RecDoc 2016-063770 City Center Plaza

Browse Search

., .. ., S rr i t•1 S.n: (4) The Party owning the hitpnwentcnt with respect to which construction wasperformedshall not be liable to the Party owning such other Improvement affected by such construction for any inconvenience, i annoyance, disturbance or loss of business to such other Puny (or Its Occupant) arising out of and during the i performance of such construction (unless occasioned by the negligence or willful misconduct of the Party performing P. such construction,or its agents), provided the loony owning the improveatent with respect to which such construction i I is being performed Shull have made all reasonable effuns to keep any such Inconvenience, annoyance, disturbance , nr loss of business to the minimum reusttnuhiy rt*iuItetl by the construction in question. 6.DEFAULT AND LIEN I (1) No Party shalt be In default under this RBA with the expiration of ten (10) business days (in the case of monetary obligations) and thirty (39) days (In the case of all other obligations) from receipt of notice • I of such default. If such default (other than u monetary default) cannot he reasonably eared within such thirty (30) t day period, a Party shall not he in default So long as, within such thirty (39) day period,it commences curing such Idefault with due diligence and thereafter prosecutes such cure to completion diligently. , - (2) Thereafter, if undcr'this Ri.A a Puny pays any money tie dues any act that requires the payment of money because of another Party's fitilure or Inability to perform its nhligatlons under this REA, the defaulting Party shall. within ten (10) business days following demand, reimburse the paying Party for such Sums. All such sums shull bear interest at the Interest Rate front the date of expenditure until the dote of reimbursement. �; • Any other sums payable by any Party to any other i'arty under this REA that are not paid when.due shall bear p') • interest at the Interest Rate from the due date of payment tlretcitf. p f _ , -%I • (3) Each Party hereby giants to each other forty a lien upon such Party's Parcel and ail CD `• Improvements.thereon to secure alt of such Parry's obligutlnns In the other Parties under this REA, if a Party _. ("Defaulting Party'') is required by this REA to pay another Puny ("Non-Defaulting'Party") any money, then. the ., a r . Non-Defaulting Party shall have the right to foreclose the lien against the Defaulting Party's Parcel and hj 1 improvements in any manner provided by law. and for this purpose shall have a power-of sate which may be enforced in the same manner as powers of.saie in mortgages and deeds of trust are enforced under California law. i . t , I (4) The Non-Defaulting Party's lien shall be Superior to any other lien and encumbrance on the I Defaulting Party's Parcel Created or arising after the date of this REA, except as follows:The NunDefaulting Party's •• . • 1 lien shall be expressly subject and subordinate to; (a) any Mortgage and•any and all advances secured by any ( Mortgage, and any expenses. charges and fees iticurred under any express,provision of such Mortgage (or.,any ; extension, consolidation. modification or supplement thereto); (b) any and ;dl !cats or subleases an all or any part . tof Defaulting Party's Parcel: and (c) the lien of uny and all general and special property taxes and special benefit' assessments rm all or any pan of Defaulting Party's Parcel. The•Nnn-Defaulting Party shall execute mid deliver any _ r further assurances of the subunlination of the Non-Defaulting Purty's'lien to this REA or the Mortgage as pmvidid 1 in thin Section. - ' . , . . . , 7.USE • • i -- . • • 7,I Residential Parcel Uses. The Residential Paieel shall be used only,Gtr multi tinily residential purposes ' ' with recreational activities, landscaping, parking.open space and other uses incidental or custiunurily related thereto. and for no other purposes. A portion of the Residential Parcel may also be used far no Other purposes. A portion i of the Residential Parcel may also be used for community service activities. a child care center. a playground, parking. open space. and u leasing and munageinant office. • . 7.2 Commercial Purcel Uses. The Commercial •Parcel shall be used only for the operation of a retail complex and a cultural center, and other uses incidental or customarily-relatedaheitto ant! fcii• no other purposes. A portion of the Commercial Parcel may also be used for community service activities and childcare.services. . - t • I 7.3 Limitations. No part of the Property shall be used or operated flu;(i) any-use which violates upplicable -4. • zoning ordinance. or (ii) any unlawful, immoral or disrcptnable purpase•,iir any activity which is inappripriate rot • I . . 4.: FD t • . - . - . . . _ , •• ,' • 1. .. . . . ' ` . :. , I • • r . . t _ . . . • S., ."4 ' ••�': . ; .t• C;!.'. - ; , , • ,. - •'•• t ..r'. . - .. • :v �`� ;