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Agmt01 Western Innisfree Ventures LLC
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Agmt01 Western Innisfree Ventures LLC
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Last modified
10/12/2006 5:01:24 PM
Creation date
1/20/2004 9:43:23 AM
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Template:
Agreement
Contractor Name
BHV Western Innisfree Ventures (predecessor-in-interest to On Broadway Redwood City, LLC)
PROJECT NAME
Downtown Retail Cinema & Parking Project, Disposition & Development Agmt (DDA)
RMP File Number
304
Date
1/29/2001
Reso Ref
RD 00-48, RD 01-61, 14140, 14141, 14733
MO Ref
01-16, 04-17, RD 04-02
Amendment
Yes
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Project Site, or a portion thereof, by providing written notice of such termination in accordance <br />with Section 1002 of this Agreement for any of the reasons set forth below: <br /> <br /> 1. Developer transfers or assigns any rights herein or in the Project Site in <br />violation of this Agreement; or <br /> <br /> 2. There is any material change in the ownership, management or control of the <br />Developer or the degree thereof contrary to the provisions of Article 9; or <br /> <br /> 3. Developer does not submit certificates of insurance by the date required by <br />this Agreement, and such Default or failure is not substantially cured within thirty (30) days after <br />the date of written demand by the Agency; or <br /> <br /> 4. Subject to Article 4, and the satisfaction of all conditions to Developer's <br />obligation to do so, Developer fails or refuses to take title to or possession of the Agency, City- <br />Transfer or Acquisition Parcels after tender of conveyance or delivery of possession by the <br />Agency within the time established therefor in the Schedule of Performance; or <br /> <br /> 5. Developer fails to timely fund the Acquisition Budget pursuant to Section <br />305(A) and/or the Parking Structure Contribution pursuant to Section 518 and to maintain such <br />funding in conformance with and for the period of time described in Section 305; or <br /> <br /> 6. After the Effective Date, Developer or any officer, employee or agent of <br />Developer negotiates with an owner or tenant of an Acquisition Parcel with respect to the <br />acquisition of such parcel or the relocation of an owner or tenant therefrom, without the prior <br />express written consent of the Agency; or <br /> <br /> 7. If Developer notifies the Agency that it will use mortgage financing to <br />finance the Project and Developer fails to rescind such notice or submit evidence that it has the <br />necessary mortgage financing for development of the Project Site, in reasonably satisfactory <br />form and in the manner and by the dates provided in this Agreement and the Schedule of <br />Perfoimance therefor; or <br /> <br /> 8. The Agency is unable to tender title to or possession of the Acquisition <br />Parcels in the manner and condition and by the date provided in the Schedule of Performance as <br />a result of delays caused by Developer's failure to perform its obligations hereunder within the <br />time provided in the Schedule of Performance (as the same may be extended pursuant to Section <br />1004), and such failure of Developer to perform is not the result of delays caused by the <br />Agency's failure to perform its obligations hereunder within the time provided in the Schedule of <br />Perfmmance (as the same may be extended pursuant to Section 1004); or <br /> <br /> 9. The Developer is in Default under this Agreement, or an event has occurred <br />or a condition exists which, with the giving of notice or the passage of time, or both, would <br />become a Default by the Developer hereunder; or <br /> <br /> 10. The Developer has failed to execute and deliver a counterpart of the Design <br />Building Agreement as provided in Section 518, and/or the Parking Rights Agreement as <br />provided in Section 518, and/or the Maintenance Agreement as provided in Section 519. <br /> <br /> B. Remedies. Where the Agency has terminated this Agreement because Developer <br />is in Default pursuant to Section 808(A) immediately above, the following provisions shall <br />apply: <br /> <br /> 38 <br />DOCSSFl:495065.9 <br />9975-5 NWN <br /> <br /> <br />
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