Agmt99 Shea Homes - Laserfiche WebLink

Browse Search

extensions of time as may be granted by Agency or established pursuant to Meet and Confer. Except as may be set forth in the Schedule of Performance, there is no requirement that Shea initiate or complete development of the Shea Project or any Project Phase within any particular period. Shea shall be able to develop in accordance with Shea's time schedules as such schedules may exist from time to time. The parties have made certain assumptions for CEQA analysis as to the rate and phasing of the Shea Project. However, the parties understand that Shea's time schedules depend upon numerous factors which are not within the control of Shea such as market conditions and rate of absorption, and similar factors. During the period of construction, but not more frequently than once a month, Shea'shall submit to Agency a written progress report of the construction when and as requested by Agency. Such requirement shall be deemed satisfied upon submittal by Shea of a copy of its report to the construction lender. {}506 Insurance and Indemnification A. Pre-Election to Fund If this Agreement terminates and Shea shall not have made an Election to Fund in accordance with Section 304, then, in such event, if any third party commences a lawsuit or other legal proceeding against Agency, wherein claims or demands are made directly relating to this Agreement and the activities of Agency hereunder performed within the scope of this Agreement during the period prior to the delivery by Shea of the Election to Fund in connection with the potential acquisition of the Acquisition Parcels, Shea shall defend, indemnify and hold harmless Agency and its governing body, officers, employees, agents and attorneys from and against any and all reasonable and customary out of pocket costs or expenses of defending such lawsuit or other legal proceeding (including reasonable attorneys' fees and court costs), except such costs or expenses as may arise from the willful misconduct of Agency or City, or from a source of environmental contamination located outside of the Franklin Street Project Site. Nothing in the preceding shall-be construed as an admission by any party or by City with respect to the potential liability or potential status as a responsible party of any party or City with respect to the presence of hazardous materials in any location. In addition, Shea shall defend, indemnify and hold harmless Agency and its governing body, officers, employees, agents and attorneys from and against any liability, loss, cost or expense arising out of any personal injury (including death) or physical damage to property, including loss of use of property resulting from any such physical damage, caused by Shea or its agents in conducting Shea's Site Feasibility Assessment, except such as may ahse from the sole negligence or willful misconduct of Agency or its governing body, officers, members, agents or employees. The obligations of Shea arising pursuant to this Section 506(A) shall pertain solely to activities or events occurring prior to exercise of the Election to Fund. B. Post-Election to Fund Subject to Shea's Election to Fund and prior to the commencement of construction on the Shea Project Site or any portion thereof, Shea shall furnish or cause to 25 wc-21875