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Agmt25 1900 Broadway Owner LLC
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Agmt25 1900 Broadway Owner LLC
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Last modified
1/22/2025 10:54:25 AM
Creation date
1/22/2025 10:50:44 AM
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Agreement
PROJECT NAME
Affordable Housing Land Donation Agreement
RMP File Number
304
Date
1/21/2025
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Section 6.10 Enforcement. If the Affordable Developer fails to perform any obligation <br />under this Agreement, and fails to cure the default within thirty (30) days after the City has notified <br />Affordable Developer in writing of the default or, if the default cannot be cured within thirty (30) <br />days, failed to commence to cure within thirty (30) days and thereafter diligently pursue such cure <br />and complete such cure within ninety (90) days or such longer period as may be approved by the <br />City in writing, the City shall have the right to enforce this Agreement by any or all of the following <br />actions, or any other remedy provided by law: <br />(a) Action to Compel Performance or for Damages. The City may bring an <br />action at law or in equity to compel Affordable Developer's performance of its obligations under <br />this Agreement, and/or for damages. <br />(b) Remedies Under the Affordable Housing Ordinance. The City may initiate <br />appropriate legal actions or procedures to revoke, deny or suspend any permit or development <br />approval for Affordable Development, in accordance with the requirements of the City's <br />Municipal and Zoning Code, it being understood that nothing herein is intended to limit the City's <br />rights to exercise its police powers. <br />The City hereby agrees to accept a cure of any default made or tendered hereunder by <br />Investor Limited Partner on the same terms and conditions as if such cure was made or tendered <br />by the Affordable Developer. <br />Section 6.11 Attorneys' Fees and Costs. In any action brought to enforce this Agreement, <br />the prevailing party shall be entitled to all costs and expenses of suit, including reasonable <br />attorneys' fees. This section shall be interpreted in accordance with California Civil Code Section <br />1717 and judicial decisions interpreting that statute. <br />Section 6.12 Recording. The City and the Affordable Developer shall cause this <br />Agreement, and all amendments and supplements to it, to be recorded against the Affordable <br />Development in the Official Records of the County of San Mateo prior to any liens, deeds of trust <br />or other instruments securing any monetary obligation of the Affordable Developer or recorded <br />against the Affordable Development. This Agreement shall not be subordinated to any liens, deeds <br />of trust or other instruments recorded against the Affordable Development and shall survive and <br />remain effective as against any transferee acquiring the Affordable Development as a result of any <br />foreclosure or deed in lieu of foreclosure, except as may be requested by Affordable Developer in <br />the manner provided for in the Land Donation Agreement. <br />Section 6.13 Governing Law and Venue. This Agreement shall be governed by the laws <br />of the State of California. Venue for any action brought by either of the Parties for the purpose of <br />enforcing a right or rights provided for by this Agreement will be tried in a court of competent <br />jurisdiction in the County of San Mateo. The Parties waive all provisions of law providing for a <br />change of venue in any proceeding to any other county. <br />Section 6.14 No Third Party Beneficiaries. There shall be no third party beneficiaries to <br />this Agreement. <br />ATTY/AGR/2024.193.1— AFFORDABLE HOUSING LAND DONATION AGREEMENT— EXHIBIT G — RESTRICTIVE COVENANTS AGR <br />R FV: 10-22-24 V R <br />Page 23 of 41 <br />
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