AgdaPkt 2002-12-09 - Laserfiche WebLink

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�.�-i� 3. There is a materirsi change in the land use regulations of the City prior to the issuance of a CcrtiScate of Completion, adversely af�'ecting the Project; or 4 By the date set forth on the Schedule of Performance, the Agency does not . adopt a Resolution of Necessity (pursuant to Article 2[commencing with Section 1245.210] of Chapter 4 of Title 7 of the Califomia Code of Civil Procedure) to acquire any of the Acquisition Parcels; or 5. Revisions or corrections are made to Project plans wlrich are materiaily inconsistent with the Project Guidelines and related documents and approv� plans, as provided in Secrion 503; or 6. The Agency and/or the City is in Default under this Agreement, or an event has occurred or a condi6on exists which, with the giving of notice or the passage of time, or both, would become a Default by the Agency and/or the City hereunder; or 7. The City has failed to execute and deliver a counterpart of the Pazking Facilities Agreement as provided in Section 518, and/or the Maintenance Agreement as provided in Section 519. B. Remedies. Where Developer has temunated this Ageement pursuant to Secrion 807(Al immediately above, the following provisions shall apply: 1. The Agency shall not draw further funds from Developer's Shaze of the Acquisition Budget and the Agency shall retum to Developer that portion of the Developer's Shaze of the Acquisition Budget that has been drawn down or otherwise paid to Agency, plus any interest or carrying costs that Developer was required to pay on such funds from the date such funds were drawn down by the Agency. 2. Developer shall not be responsible for the payment of any stuns needed by the Agency to pay Abandonment Costs. 3. Developer shall have all rights and remedies available at law or in equity, including, without limitation, and where that remedy lies, specific performance, which remedies shall be cumulative. C. Cure of Defaults. Failure to Adopt Resolution of Necessitv. Notwithstanding Section 807(B), if an event occurs pursuant to Section 807(A), then the Agency and/or the City shall have forty-five (45) days after receipt of notice with respect to such event, with due diligence, to commence to cure, correct or remedy such Default or failure to adopt a Resolution of Necessity, as applicable, and thereafter pursue such cure, correction or remedy to completion. If Agency and/or the City commences to cure within such period and completes such cure with diligence as aforesaid, then Devaloper shall not terminate this Agreement or institute proceedings against the Agency anrl/or the City for such Default. 36 DOCSSFL646942.4 9975-5 C 14 120502