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75A - AGMT FOR 99 YEAR LEASE AT 1901 W WALNUT
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75A - AGMT FOR 99 YEAR LEASE AT 1901 W WALNUT
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Last modified
2/27/2020 1:32:46 PM
Creation date
2/27/2020 1:17:59 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
75A
Date
3/3/2020
Destruction Year
2025
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(i) Transfer. The occurrence of a Transfer other than a Permitted <br />Transfer, whether voluntarily or involuntarily or by operation of Law, in violation of the terms <br />and conditions of this Agreement. <br />6.2 DEVELOPER'S WAIVER OF RIGHT TO SPECIFIC PERFORMANCE <br />AND LIMITATION ON RECOVERY OF DAMAGES PRIOR TO EXECUTION OF <br />THE LEASE. <br />6.2.1 THE DEVELOPER WAIVES ANY RIGHT TO MAINTAIN AN <br />ACTION AGAINST THE CITY FOR SPECIFIC PERFORMANCE OF ANY TERM OR <br />PROVISION OF THIS AGREEMENT, PRIOR TO THE EXECUTION OF THE LEASE. <br />DURING THE CONTINUANCE OF AN EVENT OF DEFAULT BY THE CITY, PRIOR TO <br />THE EXECUTION OF THE LEASE, THE DEVELOPER SHALL BE LIMITED TO <br />RECOVERING ANY AMOUNTS ACTUALLY EXPENDED BY THE DEVELOPER IN <br />REASONABLE RELIANCE ON THIS AGREEMENT, PRIOR TO THE DATE OF THE <br />OCCURRENCE OF THE DEFAULT BY THE CITY, NOT TO EXCEED AN AGGREGATE <br />AMOUNT OF TWENTY THOUSAND DOLLARS <br />($ 20,000___). THE DEVELOPER WAIVES ANY RIGHT TO RECOVER ANY <br />OTHER SUMS FROM THE CITY ARISING FROM A DEFAULT BY THE CITY, PRIOR <br />TO THE EXECUTION OF THE LEASE. THE DEVELOPER ACKNOWLEDGES THE <br />PROTECTIONS OF CIVIL CODE SECTION 1542 RELATIVE TO THE WAIVERS AND <br />RELEASES CONTAINED IN THIS SECTION 6.2, WHICH CIVIL CODE SECTION <br />READS AS FOLLOWS: <br />A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS <br />WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT <br />TO EXIST IN HIS OR HER FAVOR AT THE TIME OF <br />EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM <br />OR HER MUST HAVE MATERIALLY AFFECTED HIS OR <br />HER SETTLEMENT WITH THE DEBTOR. <br />6.2.2 BY INITIALING BELOW, THE DEVELOPER KNOWINGLY AND <br />VOLUNTARILY WAIVES THE PROVISIONS OF SECTION 1542 SOLELY IN <br />CONNECTION WITH THE WAIVERS AND RELEASES OF THIS SECTION 6.2. <br />Initials of Authorized <br />Developer Representative <br />6.3 Legal Actions. Following the execution of the Lease, either Party may institute <br />legal action to cure, correct or remedy any Default, to recover damages for any Default, or to <br />obtain any other remedy available to that Party under this Agreement, at law or in equity <br />regarding any Default. Any such legal action must be instituted in the Superior Court of the <br />State of California in and for Orange County, in any other appropriate court within Orange <br />County, or in the United States District Court with jurisdiction in Orange County. <br />25 <br />75A-30 <br />
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