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AgdaPkt 2012-10-08
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AgdaPkt 2012-10-08
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Last modified
11/1/2012 2:44:22 PM
Creation date
10/4/2012 4:59:31 PM
Metadata
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Successor Agency
Date
10/8/2012
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6.1.G. - Page 8 <br /> Article V <br /> General Provisions <br /> 5ecti_on 5.01. Maintenance of Froper�v. <br /> During the Rental Affordability Covenants Term, alf improvemenis de�eloped upon the Praperty, <br /> including without limitation, the Affardabls lJnits, hardscaping and fandscaping, shall at all #imes <br /> be maintained in a neat and orderly condition, good order and repair, cansist�nt wi#h good <br /> ownership practices, and in accordance with all applicable Federai, State and local laws and in <br /> accordance with the Cor�ditions of Appro�a! irr�posed by Redwood City for the approval af #he <br /> Project. <br /> Section 5.02. Events of Default; Enforcement. <br /> !n the event of a default in the pertormance or abser�ance of ar�y covenant, agreement or <br /> obligation as set forth in this Agreement and, if such default remains uncured for a period of <br /> thirty (30) day� after notice thereof shall have been gi�er� by the CITY, or such longer period as <br /> may be approved by the C1TY in writing in its sole discretion, then the CITY may declare that an <br /> Event of DefauEt has occurred here�nder, provided that ifi the nature of the default is sucf� that <br /> the same cannflt be reasonably cured with a thirty (30) day period, OWNER shaEl not be <br /> deemed to be in default if it shalf ha�e commenced such cure within such period and thereafter <br /> rectifies and cures such default with due diligence and in addition to other defauft remedies <br /> pro�ided under this Agreernent, may exercise any one or more of the following, at ifs option: <br /> A. By mandamus or other suit, action or proceeding a# law or in equity, require OWNER <br /> or its successors in interest to perform its obligations and ca�enants hereunder, ar enjoin <br /> any acts or things which may be unlawful or in �iolat�on of the rights of the CITY <br /> hereunder; <br /> B. Take whate�er other action at law or in equity rr�ay appear necessary ar desirable to <br /> enforce the o�ligations, covenants and agreements hereurtder. <br /> No delay by th� CITY in enforcing the pro�isions hereof as to any breach or violation shall <br /> impair, damage ar wai�e the right against or recover for the continuation or re�etition af such <br /> breach or violation or any simiEar breach or vioiation thereof at any later time or times. <br /> Section 5.03. Attorne s' Fees. <br /> In any legal proceeding #o enforce the terrrts of or restrain a �iolation of this Agreement, the <br /> losing party or parties must pay the attorneys' fees of the winning party or parties in the amount <br /> fixed by the court in the proceeding. <br /> Sectian 5.04. Amendments. <br /> This Agreement may only be amended in writing by an ins#rument signed by the authorized <br /> representati�e of the C�TY or it successar in interest and the then record owner or owners of the <br /> Property. <br /> Section 5.05. 5everabifity. <br /> If any pro�ision of this Agreement shall be held in�alid, inoperative or unenforceable as applied <br /> in any particular case, in any jurisdiction or jurisdictions or in all jurisd�ctiorts, or in all cases <br /> ATTYIAGR12p1 f.1411640 VETERANS WAY—AFFORDABILITY AGREEMENT <br /> REV:12129111 <br /> Page 6 of 24 <br />
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