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AgdaPkt 2019-09-09 Joint SA PFA
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AgdaPkt 2019-09-09 Joint SA PFA
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Last modified
10/1/2020 3:33:55 PM
Creation date
9/5/2019 5:14:26 PM
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CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
9/9/2019
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or agreements as may be contemplated by this Agreement and approval of amendments which do not <br />substantially change the uses or restrictions hereunder, or substantially add to the costs of the City. <br />ARTICLE IV <br />DEFAULT AND REMEDIES <br />4.1 Default. <br />A Party's violation of any material term of this Agreement or failure by any Party to perform any <br />material obligation of this Agreement shall constitute a default ("Default"), if the violation continues for a <br />period of thirty (30) days after written notice thereof to the defaulting Party without the defaulting Party <br />curing such breach, or if such breach cannot reasonably be cured within such thirty (30) day period, <br />commencing the cure of such breach within such thirty (30) day period and thereafter diligently <br />proceeding to cure such breach within ninety (90) days, unless a longer period is granted by the City. A <br />Default under this Agreement shall be a Default under the Development Agreement. <br />4.2 Remedies for Default; Notice and Procedure. <br />The remedies for Default under this Agreement shall be limited to those contained in Section 12 <br />of the Development Agreement. <br />4.3 No Waiver. <br />Any failures or delays by a Party in asserting any of its rights and remedies as to any Default shall <br />not operate as a waiver of any Default or of any such rights or remedies. Delays by a Party in asserting <br />any of its rights and remedies, irrespective of the length of the delay, shall not deprive the Party of its <br />right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert, <br />or enforce any such rights or remedies, nor constitute a waiver of such Party's right to demand strict <br />compliance by such other Party in the future. No waiver by a Party of a Default shall be effective or <br />binding upon such Party unless made in writing by such Party, and no such waiver shall be implied from <br />any omission by a Party to take any action with respect to such Default. <br />ARTICLE V <br />ESTOPPEL CERTIFICATE <br />Either Party may, at any time, and from time to time, deliver written notice to the other Party <br />requesting such Party to certify in writing that, to the knowledge of the certifying Party: (a) this <br />Agreement is in full force and effect and is a binding obligation of the Parties; (b) this Agreement has not <br />been amended or modified or, if so amended or modified, identifying the amendments or modifications; <br />and (c) the requesting Party is not in Default in the performance of its obligations under this Agreement, <br />or if in Default, to describe the nature of any Defaults. The Party receiving a request under this Article V <br />shall execute and return the certificate within thirty (30) days following receipt of the request. The City <br />Manager shall be authorized to execute any certificate requested by Owner. <br />1677\05\20075123 <br />12/5/2016 <br />PAGE 303 <br />
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