AgdaPkt 2017-06-12 Joint SA PFA - Laserfiche WebLink

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Agreement will be applicable during the Use Restriction Term, whether or not the Developer or the County exercises its respective right to repurchase or purchase the Property or its respective right of first refusal to purchase the Property. Article III General Provisions 3.1 Events of Default; Enforcement. In the event of a default in the performance or observance of any agreement or obligation as set forth in this Agreement, if such default remains uncured for a period of 30 days after notice to LifeMoves and the Developer (which notice shall be given by the City concurrently), or such longer period as may be approved by the City Manager of the City in writing in his/her sole discretion, then the City may declare that an “Event of Default” has occurred hereunder and City shall have the right to exercise all of the rights and remedies and to maintain any actions at law or suits in equity or other proper proceedings to enforce the curing of such breach. 3.2 Binding on City Successors. Subject to LifeMoves’ transfer restrictions set forth in Article 3.3 below, the Agreement shall inure to the benefit of City and its successors and assigns and shall be binding upon LifeMoves and any successor in interest to the Property, including without limitation Developer and County of San Mateo. The Agreement shall run with the land in favor of City and its successors and assigns. 3.3 Assignment by LifeMoves. (a) Approved Transferee. If either Developer or the County of San Mateo exercises its right to repurchase or purchase the Property under the MidPen Right to Repurchase or the County Right to Purchase, respectively, LifeMoves shall assign this Agreement to Developer or the County of San Mateo, as appropriate, at the time of the closing under the the MidPen Right to Repurchase or the County Right to Purchase, respectively. Such assignment shall not require prior approval of the Director. LifeMoves agrees, at the time of any such transfer, to execute an assignment and assumption agreement to be recorded against the Property in form to be agreed upon between LifeMoves, the assignee and the Director. Upon recordation of such assignment and assumption agreement, LifeMoves shall be released from liability for performance of any of the obligations of LifeMoves set forth herein. (b) LifeMoves or LifeMoves’ successor may assign this Agreement to an owner with the prior approval of the Director, which approval shall not be unreasonably withheld or delayed, and such assignment shall be documented by an assignment and assumption agreement recorded against the Property in a form to be agreed upon between such assignee, LifeMoves, or LifeMoves’ successor, as applicable, and the Director. Such assignment and assumption agreement shall document that assignee assumes all the obligations under this Agreement of LifeMoves, or LifeMoves’ successor, as applicable. Such assignment and assumption agreement shall also document that assignee assumes and agrees to be bound by the Deed of Trust. If the proposed REV: 06-06-17 JS ATTY/RESO.0051/CC RESO REDWOOD FAMILY HOUSE TRANSITIONAL HOUSING LOAN FORGIVENESS Page 14 of 68 6.3.B. - Page 19