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AgdaPkt 2020-03-09 Joint
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AgdaPkt 2020-03-09 Joint
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Last modified
10/1/2020 11:25:10 AM
Creation date
3/5/2020 4:04:14 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
3/9/2020
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6.C. -Page 101 of 111 <br />(v) Owner's default in the performance of any term, provision or covenant <br />under this Agreement (other than an obligation enumerated in this Section 9.1), and unless such <br />provision specifies a shorter cure period for such default, the continuation of such default for ten <br />(10) days in the event of a monetary default or thirty (30) days in the event of a non -monetary <br />default following the date upon which City shall have given written notice of the default to <br />Owner, or if the nature of any such non -monetary default is such that it cannot be cured within <br />thirty (30) days, Owner's failure to commence to cure the default within thirty (30) days and <br />thereafter prosecute the curing of such default to completion with due diligence and in good faith <br />but in no event longer than ninety (90) days from receipt of the notice of default. <br />If applicable, the limited partners of Owner shall have the right to cure any default of <br />Owner hereunder upon the same terms and conditions afforded to Owner. City shall provide a <br />copy of any notice of default hereunder to the limited partners to the address provided to the City <br />in writing, concurrently with the provision of such notice to Owner. <br />9.2 Remedies. Upon the occurrence of an Event of Default and its continuation <br />beyond any applicable cure period, City may proceed with any of the following remedies: <br />(i) Bring an action for equitable relief seeking the specific performance of the terms <br />and conditions of this Agreement, and/or enjoining, abating, or preventing any <br />violation of such terms and conditions, and/or seeking declaratory relief; <br />(ii) For violations of obligations with respect to rents for residential units in the <br />Project, impose a charge in an amount equal to the actual amount collected in <br />excess of the Affordable Rent; or <br />(iii) Pursue any other remedy allowed under this Agreement or at law or in equity. <br />Each of the remedies provided herein is cumulative and not exclusive. The City may <br />exercise from time to time any rights and remedies available to it under applicable law or in <br />equity, in addition to, and not in lieu of, any rights and remedies expressly provided in this <br />Agreement. <br />10. Indemnity. To the greatest extent permitted by law, Owner shall indemnify, defend (with <br />counsel approved by City) and hold the Indemnitees harmless from and against all Claims arising <br />directly or indirectly, in whole or in part, as a result of or in connection with Owner's or Owner's <br />employees', agents', contractors', or subcontractors' (all of the foregoing, collectively, "Owner's <br />Parties") construction, rehabilitation, management, or operation of the Property and the Project, <br />failure to comply with applicable law, including without limitation, state and federal fair housing <br />laws, or failure to perform any obligation as and when required by this Agreement. Owner's <br />indemnification obligations under this Section 10 shall not extend to Claims to the extent <br />resulting from the gross negligence or willful misconduct of Indemnitees. The provisions of this <br />Section 10 shall survive the expiration or earlier termination of this Agreement. City does not <br />and shall not waive any rights that it may have by reason of any indemnity and hold harmless <br />provision set forth in this Agreement because of the acceptance by City, or the deposit with City <br />by Owner, of any of the insurance policies described in this Agreement. <br />REV: 02-25-2020 PR <br />ATTYIAGR.2020.0391Premia 1180 Main Owner, LLC (Page 32 of 42) 128 <br />
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