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Agmt17 MP Bradford Associates, LP - DDA
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Agmt17 MP Bradford Associates, LP - DDA
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Last modified
3/25/2022 11:58:09 AM
Creation date
11/5/2018 11:27:03 AM
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Agreement
Contractor Name
MP Bradford and Associates, L.P.
PROJECT NAME
DDA Bradford St between Main St. and Jefferson Ave. (Bradford Senior Housing)
RMP File Number
304
Date
10/3/2017
Reso Ref
15621, 16026
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memorandum of the rights granted the City in Sections 9.8 and 9.9 of this Agreement to be <br />recorded in the Official Records at the time of the CIose of Escrow for conveyance of the Property <br />to Developer. In addition, the rights afforded City pursuant to Sections 9.8 and 9.9 may be <br />described in the Grant Deed, <br />9.11 Rights of Mortgagees. Any rights of the City under this Article IX shall not defeat, <br />limit or render invalid any mortgage or deed of trust permitted by this Agreement or any rights <br />provided for in this Agreement for the protection of holders of such instruments. Any conveyance <br />or reverter of the Property to the City pursuant to this Article IX shall be subject to mortgages and <br />deeds of trust permitted by this Agreement. <br />9.12 Assignment, The City shall have the right to assign the Repurchase Option to any <br />other governmental entity, or a qualified nonprofit corporation. <br />9.13 Construction Plans. If this Agreement is terminated by mutual agreement of the <br />Parties or by City as a result of an Event of Developer Default, the Developer, at no cost to the <br />City, shall deliver to the City copies of all construction plans and studies in the DeveIoper's <br />possession or in the possession of the Developer' s consultants related to development of the <br />Project on the Property, including without limitation, the Construction Plans, subject only to the <br />rights of senior lenders identified in the Financing Plan as it may be updated with City approval. If <br />the City utilizes the Construction Plans or studies, the City shall indemnify the Developer for any <br />claims arising from such use. <br />9.14 Rights of Limited Partners. Whenever City delivers any notice of default <br />hereunder, City shall concurrently deliver a copy of such notice to Developer's limited partner in <br />accordance with Section 11.3. The limited partner shall have the same right as Developer to cure <br />or remedy any default hereunder within the cure period provided to Developer; provided however, <br />if the default is of such nature that the limited partner reasonably determines that it is necessary to <br />replace the general partner of Developer in order to cure such default, then the cure period shall be <br />extended by an additional sixty (60) days after the removal and replacement of such general <br />partner, provided that the limited partner has promptly commenced and diligently proceeded with <br />all requisite actions to effect such removal and replacement. <br />ARTICLE X <br />INDEMNITY AND INSURANCE <br />10.1 Indemnity. Developer shall indemnify, defend (with counsel approved by City) and <br />hold the Indemnitees harmless from and against any and ail Claims (including without limitation, <br />Claims arising from any injury, death, illness, property damage, or loss of property) arising <br />directly or indirectly, in whole or in part, as a result of or in connection with the development, <br />construction, improvement, operation, ownership or maintenance of the Project or the Property or <br />any part thereof by Developer or Developer's contractors, subcontractors, agents, employees or <br />any other party acting for or on behalf of Developer, or otherwise arising out of or in connection <br />with Developer's performance or failure to perform under this Agreement, including without <br />limitation, Claims arising or alleged to have arisen in connection with any violation of Applicable <br />Laws in connection with the development, operation or management of the Project, or relating to <br />approval of the Project or the approval of this Agreement. Developer's indemnification obligations <br />ATY/AGR/2017.218/RWC — BRADFORD — DDA <br />RFV: 09-18-17 VR <br />Page 38 of 94 <br />
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