Agmt25 1900 Broadway Owner LLC - Laserfiche WebLink

Browse Search

(4) All representations and warranties of the Qualified Designee and the City contained in this Agreement shall be true and correct as of the Close of Escrow. (5) Qualified Designee shall have executed and delivered to the Title Company any other documents reasonably required by the Title Company or Qualified Designee to Close Escrow. Section 3.9 Reports. The Donor and Qualified Designee shall provide the City with copies of all reports, studies, analyses, correspondence, and similar documents, but excluding confidential or proprietary information, prepared, or commissioned by the Qualified Designee with respect to this Agreement and the Affordable Development, promptly upon receipt of written request from the City. Section 3.10 No Brokers. Each of the parties hereto represents that it has dealt with no broker or finder in connection with the potential Land Donation of the Affordable Site, and insofar as they know, no broker or other person is entitled to any commission or finder's fee in connection with such Land Donation. Qualified Designee and Donor each agree to indemnify, defend, and hold harmless one another against any, loss, liability, damage, cost, claim, or expense incurred by reason of any brokerage commission or finder's fee alleged to be payable because of any act, omission, or statement of the indemnifying party. The foregoing obligation shall survive execution of the Effectuating Agreement and consummation of the Land Donation. Section 3.11 Natural Hazards Disclosures. Without limiting Section 3.6, limiting Section 5.6, the City and each of the purchasers acknowledge that the Disclosure Statutes (as defined below) provide that a seller of real property must make certain disclosures regarding certain natural hazards potentially affecting the property, as more particularly provided therein. As used in this Agreement, "Disclosure Statutes" means, collectively, California Government Code Sections 8589.3, 8589.4 and 51183.5, California Public Resources Code Sections 2621.9, 2694 and 4136 and any other California statutes that require the Donor to make disclosures concerning the Affordable Site. Prior to the Close of Escrow, the Donor shall have ordered a Natural Hazard Disclosure Report for the Affordable Site from the Title Company and shall deliver the same to the Qualified Designee promptly upon the Donor's receipt thereof. The Natural Hazard Disclosure Report for the Affordable Site shall hereafter be called the "Natural Hazard Report." The Donor and Qualified Designee hereby agree as follows with respect to the Disclosure Statutes and the Natural Hazard Reports: (1) the Natural Hazard Reports are being provided by the City for purposes of complying with the Disclosure Statutes and shall not be deemed to constitute a representation or warranty by the Donor as to the presence or absence in, at or around the Affordable Site of the conditions that are the subject of the Disclosure Statutes; and, (2) the Natural Hazard Report is for the Donor and the Qualified Designee only and are not for the benefit of, nor are to be used for any purpose by, any other party, including, without limitation, insurance companies, lenders or governmental agencies other than the City. Section 3.12 Use. The Qualified Designee hereby agrees that, unless otherwise approved in writing by the City, the Affordable Site will be used in accordance with the restriction set forth in this Agreement and the Affordable Housing Restrictive Covenant. ATTY/AGR/2024.193.1—AFFORDABLE HOUSING LAND DONATION AGREEMENT REV: 10-22-24 VR Page 17 of 35