Reso25-02 0024 PC Reso 901 El Camino Real

Browse Search

Page 23 of 42 a penalty in any amount up to an including the amount of financial benefit received in addition to recovery of the benefit received. (c) Requiring the Affordable Developer or its successor in interest to the Affordable Site to pay the City any payments received by the Affordable Developer for the Affordable Unit(s) from the date of any unauthorized use of the Affordable Unit in excess of the Rent allowed pursuant to Section 2.2 above. (d) The City may initiate appropriate legal action or procedures to withhold, condition, revoke, deny or suspend any permit, license, subdivision approval or map, or other entitlement for the Affordable Development, including without limitation final inspections for occupancy and/or certificates of occupancy. (e) The City may use any other means authorized under the City Code, Density Bonus Law, or any other applicable law to enforce compliance. (f) Action to Compel Performance or for Damages. The City may bring an action at law or in equity to compel Affordable Developer's performance of its obligations under this Agreement, and/or for damages. (g) Remedies Under the Affordable Housing Ordinance. The City may initiate appropriate legal actions or procedures to revoke, deny or suspend any permit or development approval for Affordable Development, in accordance with the requirements of the City's Municipal and Zoning Code, it being understood that nothing herein is intended to limit the City's rights to exercise its police powers. (h) The City hereby agrees to accept a cure of any default made or tendered hereunder by Investor Limited Partner on the same terms and conditions as if such cure was made or tendered by the Affordable Developer. Section 6.11 Attorneys' Fees and Costs. In any action brought to enforce this Agreement, the prevailing party shall be entitled to all costs and expenses of suit, including reasonable attorneys' fees. This section shall be interpreted in accordance with California Civil Code Section 1717 and judicial decisions interpreting that statute. Section 6.12 Recording. The City and the Affordable Developer shall cause this Agreement, and all amendments and supplements to it, to be recorded against the Affordable Development in the Official Records of the County of San Mateo prior to any liens, deeds of trust or other instruments securing any monetary obligation of the Affordable Developer or recorded against the Affordable Development, except the Land Donation Agreement. This Agreement shall not be subordinated to any liens, deeds of trust or other instruments recorded against the Affordable Development (except the Land Donation Agreement) and shall survive and remain effective as against any transferee acquiring the Affordable Development as a result of any foreclosure or deed in lieu of foreclosure. ATTY/RESO.0024/PC RESO 901 EL CAMINO REV: 04-11-25 VR