AgdaPkt 2002-12-09 - Laserfiche WebLink

Browse Search

�.�-i� §604 Effect of Violation of the Terms and Provisions of this Article 6 After ComnletIon:afCoastrncHon:: , _, _ ... _ The Agency is deemed the beneficiary of the terms and provisions of Uris Article 6 and of „ the covenants running with the land for and in its own right and for the purposes of protecting the interests of the community and other parties, public or private, in whose favor and for whose benefit tlus Article 6 and the covenants n,n++ing with the land have been provided. This Article 6 and the covenants contained herein shall run in favor of the Agency without regard to whether the Agency has been, remains or is an owner of any land or interest therein in the Project Site . The Agency shall have the right, if the covenants of this Article 6 aze breached, after notice to Developer, to exercise all rights and remedies, and to maintain any actions or suits at law or in . equity or other proper proceedings to enforce the curing of such breaches to wluch it or any other beneficiaries of this Article 6 and the covenants contained herein may be entifled. Notwithstanding any provision herein to the contrary, upon the sale or other transfer of any portion of the Project after issuance of a Certificate of Completion, Developer shall be released &om and have no further responsibility for the performance or failure to perform any of the requirements of this Article 6 occurring subsequent to such sale or transfer with respect to the portion sold or transferred. Articie 7. RESERVED Article 8. DEFAULTS AND REMEDIES §801 Defaults in General Subject to the extensions oftime set forth in Section 1004 ofthis Agreement, material failure or material delay by either party in performing or complying with any material term or material provision of this Agreement will constitute a default under this Agteement ("DefaulY�. Any party claiming a Default ("ClaimanY') shall give written notice of Default to the other party, specifying such Default. For purposes of this Agreement, the term "DefaulY' does not include a defauit of the kind described in Section 515 of this Agreement. The Claimant's rights to institute legal proceedings or terminate this Agreement aze subject to the cure rights provided for in Sections 807(C) and 808(C). Either party exercising its right to terminate this Agreement under this Article 8 shall do so by providing written notice,of such termination in accordance with Section 1002 of this Agreement. After termination, neither Developer nor the Agency nor the City shall have any rights against, or liability to, any other party under this Agreement, except as otherwise set forth in this Agreemer §802 Institution of Le¢al Actions Any legal action must be instituted in the Superior Court of the County of San Mateo, State of Califomia. 34 DOCSSFI :648942.4 9975-5 C I4 120502