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RecDoc2025-040194 LMA 112 Vera Avenue Apartments
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RecDoc2025-040194 LMA 112 Vera Avenue Apartments
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10/17/2025 12:46:32 PM
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10/17/2025 12:46:07 PM
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Agreement
Doc Num
2025-040194
Rec Date
8/6/2025
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safety, then Developer will have twenty-four (24) hours to correct, remedy or cure <br />the deficiency. A cure by the Developer's limited partner shall be accepted as if <br />made by the Developer itself. <br />6.2 Lien for Costs of Required Maintenance. In the event that Developer fails to <br />correct, remedy, or cure or has not commenced correcting, remedying or curing <br />such deficiency after notification and after expiration of any applicable cure period, <br />then City will have the right to maintain, repair, care for and, if and when necessary, <br />replace such Improvements at Developer's expense. Developer agrees to pay <br />City upon demand all charges and costs incurred by City for such maintenance, <br />repair and replacement work. Until so paid, City will have a lien on the Property <br />for the amount of such charges or costs, which lien will be perfected by the <br />recordation of a "Notice of Claim of Lien" against the Property. This lien will affect <br />all parcels jointly and severally if portions of the Property have been sold. Any lien <br />in favor of City created or claimed hereunder is expressly made subject and <br />subordinate to any mortgage or deed of trust made in good faith and for value, <br />recorded as of the date of the recordation of the Notice of Claim of Lien, and no <br />such lien will in any way defeat, invalidate, or impair the obligation or priority of any <br />such mortgage or deed of trust, unless the mortgagee or beneficiary thereunder <br />expressly subordinates its interest, of record, to such lien. No lien in favor of City <br />created or claimed hereunder will in any way defeat, invalidate, or impair the <br />obligation or priority of any existing lease, sublease or easement unless such <br />instrument is expressly subordinated to such lien. <br />6.3 Legal Action. City may bring legal action to collect the sums due as the <br />result of expending public monies to maintain, repair and, if and when necessary, <br />replace any Improvements that are the responsibility of Developer as provided <br />herein. Developer agrees that if City brings legal action to enforce its rights under <br />this Section 6, Developer will pay City all costs incurred by it, including attorneys' <br />fees and court costs, together with interest from the date City provided notice under <br />Section 6. 1, at the rate of seven percent (7%) per annum. <br />6.4 Additional Remedies. Developer acknowledges and agrees that City may <br />also pursue any and all other remedies available in law or equity in the event of a <br />breach of Developer's obligations and agreements set forth herein. <br />6.5 Intention of City. Nothing in this Section 6 will be construed, either expressly <br />or by implication, as indicating City's intention to exercise dominion or control over <br />the Improvements. <br />7. No Impairment of Lien. No violation or breach of the agreements, conditions, <br />restrictions, provisions or limitations contained in this Agreement will defeat or render <br />invalid or in any way impair the lien or charge of any mortgage, deed of trust or other <br />financing or security instrument; provided, however, that any successor of Developer to <br />the Property or any portion thereof will be bound by such agreements, conditions, <br />REV: 04-07-25 JB <br />
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