RecDoc2023-000975 Harbor View Property LLC.

Browse Search

C. This Agreement is a valid obligation of Developer and is enforceable in accordance with its terms. D. Developer has not (i) made a general assignment for the benefit of creditors, (ii) filed any voluntary petition in bankruptcy or suffered the filing of any involuntary petition by Developer's creditors, (iii) suffered the appointment of a receiver to take possession of all, or substantially all, of Developer's assets, (iv) suffered the attachment or other judicial seizure of all, or substantially all, of Developer's assets, (v) admitted in writing its inability to pay its debts as they come due, or (iv) made an offer of settlement, extension, or composition to its creditors generally. The foregoing representations and warranties are made as of the Agreement Date. During the Term of this Agreement, Developer shall, upon learning of any fact or condition which would cause any of the warranties and representations in this Section 4.4 not to be true, immediately give written Notice of such fact or condition to City. ARTICLE 5. DEVELOPMENT OF PROPERTY Section 5.1 Vested Rights. The Property is hereby made subject to the provisions of this Agreement. Developer shall have the vested right to develop the Property and the Project in accordance with and subject to the Project Approvals, Applicable Law and this Agreement, which shall control the permitted uses, density and intensity of use of the Property and the maximum height and size of buildings on the Property. Except as otherwise provided in this Agreement, no New City Laws that conflict with the Project Approvals or this Agreement or the Applicable City Regulations shall apply to the Project or the Property. For purposes of this Section 5.1 and Sections 5.2 and 5.5, the word "conflict" means any modification that purports to: (a) limit the permitted uses of the Property, the density and intensity of use (including but not limited to floor area ratios of buildings), or the maximum height and size of proposed buildings; (b) impose requirements for reservation or dedication of land for public purposes or requirements for infrastructure, public improvements, or public utilities, other than as provided in the Existing Approvals or this Agreement; (c) impose conditions upon development of the Property other than as permitted by the Applicable City Regulations, Changes in the Law (as defined in Section 5.7), the Project Approvals and this Agreement; (d) limit the timing, phasing, or rate of development of the Property; (e) limit the location of building sites, grading, or other improvements on the Property in a manner that is inconsistent with or substantially more restrictive than the limitations included in the Existing Approvals and this Agreement; (f) limit or control the ability to obtain public utilities, services, or facilities (provided, however, nothing herein shall be deemed to exempt the Project or the Property from any water use rationing requirements that may be imposed on a City-wide basis from time to time in the future or be construed as a reservation of any existing sanitary sewer or potable water capacity); (g) require the issuance of additional permits or approvals by City other than those required by Applicable Law, the Existing Approvals and this Agreement; (h) establish, enact, increase, or impose against the Project or the Property any special taxes or assessments other than those specifically permitted by this Agreement, including Section 6.2; (i) apply to the Project any New City Laws that are not uniformly applied on a City-wide basis to all substantially similar types of development projects and project sites (i.e., to all commercial office projects, etc.); 0) impose against the Project any condition or Exaction, including and dedication, not specifically ATTY/AGR/2022.389/HARBOR VIEW PROJECT DEVELOPMENT AGREEMENT REV: 10-28-2022 VR 15