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AgdaPkt 2018-08-27 Joint SA PFA
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AgdaPkt 2018-08-27 Joint SA PFA
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Last modified
9/16/2019 9:42:01 AM
Creation date
8/23/2018 6:18:26 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
8/27/2018
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6.2.A. - Page 40 <br />Attn: City Attorney <br />Each party will notify the other promptly of any changes of address that would require any notice <br />or delivery to be directed to another address. <br />30. Assignment by Develoner. COA shall have the right to convey the Property to <br />OAI following City's approval of the Parcel Map and the recordation of this Agreement. Upon <br />the occurrence of such conveyance, OAI shall be the Developer for all purposes hereunder and <br />shall be liable for the performance of, and shall have all of the rights of, Developer hereunder; <br />and COA shall be relieved of and released from all duties, obligations and liabilities thereafter <br />arising hereunder. Similarly, upon such conveyance, COA's rights under this Agreement shall <br />expire. Following such conveyance of the Property to OAI (or if COA for any reason does not <br />convey the Property to OAI), Developer, and each successor hereunder, may assign its <br />obligations under this Agreement, only with the prior written approval of the City and which <br />approval shall not be unreasonably withheld, to a transferee in connection with a transfer of a fee <br />interest or long-term leasehold interest in the Property; provided, however, that in connection <br />with any such transfer, Developer and its assignee shall execute and deliver to the City a written <br />assignment and assumption agreement in a form approved by the City Attorney, in his or her <br />reasonable discretion. For purposes of the forgoing sentence, it shall be reasonable for City to <br />withhold approval of a proposed transfer if the proposed transferee cannot meet the security <br />requirements set forth in Section 13 or the insurance requirements set forth in Section 18. <br />Following any such assignment, the transferor shall be relieved of further liability hereunder with <br />respect to obligations arising after such assignment. <br />31. Binding Upon Heirs. Successors and Assigns. The terms, covenants and <br />conditions of this Agreement shall be binding upon all heirs, successors and assigns of the parties <br />hereto. <br />32. Intemretation. The word "including" shall be construed as if followed by the <br />words "without limitation." All exhibits and attachments to this Agreement are incorporated by <br />reference as though fully restated herein. This Agreement shall be interpreted as though <br />prepared jointly by both parties. Section headings in this Agreement are for convenience only <br />and are not intended to be used in interpreting or construing the terms, covenants or conditions <br />contained in this Agreement. <br />33. Severabilitv. If any provision of this Agreement is held, to any extent, invalid, the <br />remainder of this Agreement shall not be affected, except as necessarily required by the invalid <br />provision, and shalt remain in full force and effect. <br />34. Entire Agreement. The terms and conditions of this Agreement constitute the <br />entire agreement between City and Developer with respect to the matters addressed in this <br />Agreement. This Agreement may not be altered, amended or modified without the written <br />consent of all parties hereto. <br />35. Governing Law_: Venue. This Agreement shall be construed and enforced in <br />accordance with the laws of the State of California, without reference to choice of law <br />REV: 06-22-16 JS <br />Page 13 of 15 <br />ATTY/AGR.2016.159/Centrum Owners Association - EA <br />
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