My WebLink
|
Help
|
About
|
Sign Out
Browse
Search
Agmt21 ROEM Project at 353 Main
RedwoodCity
>
City Clerk
>
Agreements
>
2020-2029
>
2021
>
Under $100K
>
Agmt21 ROEM Project at 353 Main
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
12/3/2021 11:37:01 AM
Creation date
12/3/2021 11:32:49 AM
Metadata
Fields
Template:
Agreement
Contractor Name
353 Main St.
PROJECT NAME
Loan Agreement
RMP File Number
304
Date
7/13/2021
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
154
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
The conditions and obligations set forth in this Article 5 shall apply throughout the Term, <br />unless a different period of applicability is specified for a particular condition or obligation. <br />Section 5.2 Use. <br />(a) The Developer hereby agrees that, for the entire Term, the Development <br />will be used only for residential use consistent with the Regulatory Agreement. <br />(b) The Regulatory Agreement shall require that a portion of the Units shall <br />be affordable to and occupied by Extremely Low Income Households and Lower Income <br />Households as further specified in the Regulatory Agreement. <br />Section 5.3 Maintenance. <br />(a) The Developer agrees, for the entire Term of this Agreement, to maintain <br />all interior and exterior improvements, including landscaping, of the Development in first-class <br />condition, repair and sanitary condition (and, as to landscaping, in a healthy condition, subject to <br />any restrictions on water use) and in accordance with a Management Plan approved pursuant to <br />Section 2.7 of this Agreement (including without limitation any landscape and signage plans), as <br />the same may be amended from time to time, and all applicable laws, rules, ordinances, orders, <br />and regulations of all federal, state, municipal, and other governmental agencies and bodies <br />having or claiming jurisdiction and all their respective departments, bureaus, and officials. <br />(b) The Developer acknowledges the great emphasis the City places on <br />quality maintenance to protect its investment and to provide quality low-income housing for area <br />residents and to ensure that City -assisted affordable housing projects are not allowed to <br />deteriorate due to deficient maintenance. In addition, the Developer shall keep the Development <br />free from all graffiti, and any accumulation of shopping carts, debris or waste material. The <br />Developer shall promptly make all repairs and replacements necessary to keep the Development <br />in first-class condition and repair and shall promptly eliminate all graffiti and replace dead and <br />diseased plants and landscaping with comparable approved materials. <br />(c) In the event that the Developer breaches any of the covenants contained in <br />this section and such default continues for a period of seven (7) days after written notice from the <br />City with respect to graffiti, debris, waste material, and general maintenance or thirty (30) days <br />after written notice from the City with respect to landscaping and building improvements, then <br />the City, in addition to whatever other remedy it may have at law or in equity, shall have the <br />right to enter upon the Property and perform or cause to be performed all such acts and work <br />necessary to cure the default. Pursuant to such right of entry, the City shall be permitted (but is <br />not required) to enter upon the Property and perform all acts and work necessary to protect, <br />maintain, and preserve the improvements and landscaped areas on the Property, and to attach a <br />lien on the Property, or to assess the Property, in the amount of the expenditures arising from <br />such acts and work of protection, maintenance, and preservation by the City and/or costs of such <br />cure, including a ten percent (10%) administrative charge, which amount shall be promptly paid <br />by the Developer to the City upon demand. <br />Section 5.4 Taxes and Assessments. <br />REV: 06-17-2020 PR <br />1199\09\2727850.8 <br />ATTY/AGR.2020.100/353 Main Street Apartments LP (Page 37 of 143) <br />
The URL can be used to link to this page
Your browser does not support the video tag.