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RecDoc2023-063043 Housing Affordability Agreement Broadway Plaza
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RecDoc2023-063043 Housing Affordability Agreement Broadway Plaza
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Last modified
12/19/2023 3:36:48 PM
Creation date
12/19/2023 3:33:47 PM
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Recorded Docs
Recorded Docs - Type
Agreement
Doc Num
2023-063043
Rec Date
11/29/2023
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TO THE DEVELOPER: <br />and: <br />SI XX, LLC <br />c/o The Sobrato Organization <br />599 Castro Street, Suite 400 <br />Mountain View, CA 94041 <br />Attn: Peter Tsai, Vice President <br />Real Estate Development <br />SI 78 LLC <br />c/o The Sobrato Organization <br />599 Castro Street, Suite 400 <br />Mountain View, CA 94041 <br />Attn: Peter Tsai, Vice President <br />Real Estate Development <br />Either party may change the address(es) to which notices are to be sent by notifying the other <br />party of the new address(es), in the manner set forth above. <br />Section 4.6 Entire Agreement. <br />This Agreement and the Restrictive Covenant Agreement will constitute the entire <br />agreement between the parties with regards to the implementation of the Ordinance and the <br />Affordable Housing Plan for the Residential Component and no modification hereof shall be <br />binding unless reduced to writing and signed by the parties hereto. <br />Section 4.7 Duration and Amendment of Agreement. <br />This Agreement shall remain in effect for the Term (as defined above) unless sooner <br />terminated in accordance with Section 2.7 above. This Agreement, and any section, subsection, <br />or covenant contained herein, may be amended only upon the written consent of the City <br />Manager who shall have authority to approve or disapprove amendments on behalf of the City. <br />Section 4.8 No Claims. <br />Nothing contained in this Agreement shall create or justify any claim against the City by <br />any person that Developer or Affordable Developer may have employed or with whom <br />Developer or Affordable Developer may have contracted relative to the purchase of materials, <br />supplies or equipment, or the furnishing or the performance of any work or services with respect <br />to the Residential Site or the construction of the Residential Component. <br />Section 4.9 Applicable Law and Venue. <br />This Agreement shall be governed by California law. Any action brought by either of the <br />Parties for the purpose of enforcing a right or rights provided for by this Agreement will be tried <br />in a court of competent jurisdiction in the County of San Mateo, State of California. The Parties <br />15 <br />1199\10\3609857.1 <br />REV: 10-18-23 SK <br />
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