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City Draft <br /> 6/28/13 <br /> 6.6 No ApprovaZ Required After Certificate of CampleNon Issued. Upon <br /> the issuance of a Certificate of Completion, City's right with respect to <br /> approval of Loans, construction financing, loan documents, lender <br /> assignments and Transfers shall be of no further force or effect without the <br /> necessity of notice or further agreement. Upon the written request of <br /> D�veloper following the expiration of the obligations set forth in this <br /> Article 6, City agrees to confirm in writing the expiry af such special <br /> covenant and execute and deliver to Developer such documents or <br /> agreements, including quitctaim deeds, as are necessary to reTnove such <br /> expired special covenant from any recorded dacument.......................................46 <br /> ARTICLE 7 DEFAULTS, REMEDIES AND TERMINATION................................................47 <br /> 7.1 Application of Remedies.........................:..........................................................47 <br /> This Article 7 shall govern the Parties' remedies for breach or failure under this <br /> Agreement............................................................................................................47 <br /> 7.2 No Fault of Parties.............................................................................................47 <br /> 7.3 Fault of the City .................................................................................................47 <br /> 7.4 Fault of Developer..............................................................................................48 <br /> 7.5 Legal Actions. Following the Close of Escraw, either Party may institut� <br /> legal action to cure, correct ar zemedy any Default,to recover damages for <br /> any Default, or to obtain any other remedy available to that Party undEr <br /> this Agreement, at law or in equity regarding any Default. Any such legal <br /> action must be instituted in the Superior Court of the State of California in <br /> and for the County, in any other appropriate court within the County, or in <br /> the United States District Court with jurisdiction in the County. <br /> Notwithstanding the faregoing, in no event shall either party be liable for <br /> the consequential damages or lost profit of the other. ......................................... 50 <br /> 7.6 Righ�s and Remedies are Cumulative. Except as otherwise expressly <br /> stated in this Agreernent, the rights arxd re�aned.ies of the Parties set forth in <br /> this Agreement a�re cumulative and the exercise by either Party of one or <br /> mare of such rights or remedies shall not precZude the exercise by it, at the <br /> same or different tim�es, of any other rights or remedies for the saxne <br /> default or any other default by the other Party. ................................................... 51 <br /> 7.7 Indemni�cation.................................................................................................. 51 <br /> 7.8 Indemnification Procedures. Where�er this Agreement requires any <br /> Indemnitor to Indemnify any Indemnitee:........................................................... 52 <br /> 7.9 City Option to Purch�se Following Conveyance............................................. 53 <br /> ARTICLE 8 GENERAL PR4VISIONS ..................................................................................... 55 <br /> 8.1 Incorporation of Recitals. The Recitals set forth preceding this <br /> Agreement are true and correct and are incorporated into this Agreement <br /> in their entirety by this reference. ......................................... ...... 55 <br /> ......................... <br /> 82483.0000917571312.10 �� <br />