Agmt09 Mental Health Association of San Mateo County

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attachments A, B, C, F, H, N, and 0 and all other federal, state, and local laws, regulations and requirements, as applicable. Section 4.07. Effect and Duration of Covenants. a. The covenants respecting use and maintenance of the Property established in accordance wi th Sections 4.01 and 4.02 shall be contained in the Declaration of Redevelopment Covenants and shall remain in effect on all of the Property for the life of the Redevelopment Plan, as may be extended from time to time. The Declaration of Affordability Covenants shall remain in effect for a period of fifty-five (55) years commencing on the date the City issues the Certificate of Occupancy for the apartment units. The covenants established against discrimination in accordance with Sections 4.03, 4.04 and 4.06, and each of them, shall be included in the Declaration of Redevelopment Covenants and remain in effect on all of the Property in perpetui ty. All of the covenants referenced in this Article shall run wi th the land and shall constitute equitable servitudes thereon, and shall, without regard to technical classification and designation, be binding for the benefit and in favor of the Agency, its successors and assigns, and, where indicated, the City. b. The Agency and the City are deemed the beneficiaries of the terms and provisions of this Agreement and of the covenants running wi th the land for and in its own rights and for the purposes of protecting the interests of the community. The Agency and/or the City shall have the right, if such covenants are breached, to exercise all rights and remedies and to maintain any actions or suits at law or in equity or such other proper proceedings to enforce the curing of such breaches to which it or any other beneficiary of such covenants may be entitled. ARTICLE V DEFAULTS, REMEDIES AND TERMINATION Section 5.01. Defaults - General. a. Subj ect to the extensions of time set forth in Section 6.05 hereof, failure or delay by any party to perform any term or provision of this Agreement shall constitute a default under this Agreement; provided, however, that if a party otherwise in default commences to cure, correct or remedy such default within the time specified for that default, or if no time is specified, then wi thin thirty (30) days after receipt of wri tten notice specifying such default and shall diligently and continuously prosecute such cure, correction or remedy to completion (and where any time limits for the completion of such cure, correction or remedy are specifically set forth in this Agreement, then within 29