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Reso25 16296
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Reso25 16296
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4/29/2025 3:59:13 PM
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4/29/2025 3:56:21 PM
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CC Index
CC Index - Document Type
Resolution
Date
4/28/2025
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Section 6.21 Hold Harmless. Affordable Developer will indemnify and hold harmless <br />(without limit as to amount) City, its council members, officers, employees and agents in their <br />official capacity (hereinafter collectively referred to as “Indemnitees”), and any of them, from and <br />against all loss, all risk of loss and all damage (including expense) sustained or incurred because <br />of or by reason of any and all claims, demands, suits, actions, judgments and executions for <br />damages of any and every kind and by whomever and whenever made or obtained, allegedly <br />caused by, arising out of or relating in any manner to the Affordable Development or the <br />Affordable Developer's performance or non-performance under this Agreement, and shall protect <br />and defend Indemnitees, and any of them with respect thereto, except to the extent caused by the <br />gross negligence or willful misconduct of the Indemnitees, as applicable. The provisions of this <br />Section shall survive expiration or other termination of this Agreement or any release of part or all <br />of the Affordable Site from the burdens of this Agreement, and the provisions of this Section shall <br />remain in full force and effect. <br /> <br />Section 6.22 Subordination. The restrictions imposed under Article 2 of this Agreement <br />are land use restrictions required to comply with the requirements under the Affordable Housing <br />Ordinance and California Government Code section 65915 and may not be subordinated. The City <br />has no intent or obligation to subordinate this Agreement to any current or future financing or <br />deeds of trust. <br /> <br />Section 6.23 Compliance with Financing Requirements. Affordable Developer shall <br />comply with the requirements of any lenders financing the Affordable Development or who have <br />a secured interest in the Affordable Development. <br /> <br />Section 6.24 Tax Credit Program. Notwithstanding anything contained herein to the <br />contrary, if and for as long as the Property is subject to the requirements of the California and/or <br />Federal Low-Income Housing Tax Credit Program under the provisions of Section 42 of the Code <br />and Section 23610.5 of the California Revenue and Taxation Code, as applicable (collectively, the <br />“Tax Credit Program”) and there is a conflict between the requirements of the Tax Credit Program <br />and the affordability provisions set forth in 2.3 above, inclusive, then the provisions of the Tax <br />Credit Program shall prevail. That notwithstanding, the fact that this Agreement and the Tax Credit <br />Program provide for greater, lesser or different obligations or requirements shall not be deemed a <br />conflict unless the applicable provisions are inconsistent and could not be simultaneously enforced <br />or performed. <br /> <br />Section 6.25 Action and Approval. Whenever action and/or approval by City is required <br />under this Agreement, the City Manager or the City Manager's designee may act on and/or approve <br />such matter unless specifically provided otherwise, or unless the City Manager or the City <br />Manager's designee determine in their discretion that such action or approval requires referral to <br />City Council for consideration. <br /> <br />Section 6.26 Permitted Transfer. Notwithstanding anything to the contrary in this <br />Agreement, Affordable Developer may, without the consent of the City, assign all of its right, title, <br />interest and obligations under this Agreement to a limited partnership in which Affordable <br />Developer is a general partner, provided that such assignee shall assume in writing all of <br />Affordable Developer's obligations under this Agreement, and provided further that the assignment <br />is effectuated pursuant to an Assignment Agreement in substantially the form attached hereto as <br />ATTY/RESO.0029/CC RESO APPROVING ARCHITECTUAL PERMIT, TENTATIVE PARCEL MAP (920 SHASTA) - EXHIBIT C <br />REV: 04-22-25 VR <br /> <br />Page 191 of 224
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