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Agmt90 DDA Sequoia Station
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Agmt90 DDA Sequoia Station
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Last modified
10/19/2017 12:13:32 PM
Creation date
9/13/2017 4:36:22 PM
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Template:
Agreement
Contractor Name
Sequoia Station Developers, Inc
PROJECT NAME
Sequoia Station
RMP File Number
405
Date
4/10/1990
Amendment
Yes
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JAH:djm 03/06/90R (REDEV) <br />JAH:djm 03/19/90R <br />JAH:djm 04/04/908 <br />A. The Developer fails to maintain the amount of the Good <br />Faith Deposit as required by Section 901; or <br />B. The Developer transfers or assigns or attempts to <br />transfer or assign this Agreement or any rights herein or in the <br />Project Site or the buildings or structures thereon in violation <br />of this Agreement; or <br />C. There is any material change in the ownership, <br />management or control of the Developer or the degree thereof <br />contrary to the provisions of Section 109; or <br />D. The Developer does not submit certificates of <br />insurance, construction plans, or drawings and related documents <br />by the respective dates as required by this Agreement, or does <br />not submit evidence that it has the necessary equity capital and <br />mortgage financing for development of the Project Site, in <br />satisfactory form and in the manner and by the dates <br />respectively provided in this Agreement therefor, and such <br />default or failure is not cured within thirty (30) days after the <br />date of written demand by the Agency; or <br />E. The Developer fails or refuses to take title to or <br />possession of the Acquisition Parcels after tender of conveyance <br />or delivery of possession by the Agency within the time <br />established therefor in the Schedule of Performance; or <br />F. The Developer fails to timely submit the Letter of <br />Credit (or Cash Deposit) described in Section 304 and maintain <br />the same in conformance with and for the period of time described <br />in Section 304; or <br />G. The City does not abandon the easements or portions of <br />easements which lie within the Project Site, as contemplated in <br />Section 803; or <br />H. The Agency is unable to acquire title to or possession <br />of the Acquisition Parcels as contemplated by this Agreement to <br />permit conveyance of title or delivery of possession within the <br />time set forth in the Schedule of Performance, or within such <br />time as extended pursuant to Section 308; or <br />I. The total Acquisition Costs exceed the sum of FOUR <br />MILLION THREE HUNDRED THOUSAND DOLLARS ($4,300,000.00), unless <br />the Developer shall advance to the Agency Excess Acquisition <br />Costs in accordance with the provisions of Section 304; or <br />J. Caltrans elects not to transfer Parcel D to SamTrans or <br />the Developer, as contemplated in Section 204; or <br />K. The Developer and SamTrans fail to consummate an <br />agreement as contemplated in Section 601; <br />RE <br />
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