Agmt21 ROEM Project at 353 Main - Laserfiche WebLink

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Section 8.6 Right of Cit to Satisfy Other Liens. After the Close of Escrow, and after the Developer has had a reasonable time to challenge, cure or satisfy any liens or encumbrances on the Property or any portion thereof, the City shall have the right to satisfy any such lien or encumbrances; provided, however, that nothing in this Agreement shall require the Developer to pay or make provision for the payment of any tax, assessment, lie« or charge so long as the Developer in good faith shall contest the validity or amount therein and so long as such delay in payment shall not subject the Property or any portion thereof to forfeiture or sale. Section 8.7 Holder to be Notified. The provisions of this Article shall be incorporated into the relevant deed of trust or mortgage evidencing each Security Financing Interest to the extent deemed necessary by, and in form and substance reasonably satisfactorily to the City, or shall be acknowledged. by the holder of a Security Financing Interest prior to its coming into any security right or interest in the Property. ARTICLE 9. GENERAL PROVISIONS Section 9.1 Notices Demands and Communications. Formal notices, demands, and communications between the City and the Developer shall be sufficiently given if and shall not be deemed given unless dispatched by registered or certified mail, postage prepaid, return receipt requested or delivered personally, to the principal office of the City and the Developer as follows: City: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attn: City Manager With a copy to: City of Redwood City 1017 Middlefield Road Redwood City, CA 94063 Attention: City Attorney Developer: 353 Main Street Apartments, LP 1650 Lafayette Street Santa Clara, CA 95050 Attn: Stephen Emami REV: 06-17-2020 PR 1199109\2727850.8 ATTY/AGR.2020.100/353 Main Street Apartments LP (Page 54 of 143)