|
withheld. Except as otherwise provided in this Agreement, for an approved assignment to be
<br />effective, the Developer and assignee shall enter into an assignment and assumption agreement
<br />in a form reasonably approved by the City.
<br />(b) Notwithstanding the foregoing, the following assignments or
<br />transfers of this Agreement and the Property shall be permitted:
<br />(i) the sub -lease of micro -farm or commercial space to
<br />tenants or end -users, for occupancy upon completion; or,
<br />(ii) an assignment as security for a construction and/or
<br />development loan from a lender, subject to the approval by City pursuant to this Agreement,
<br />which approval shall not be unreasonably withheld, conditioned, or delayed.
<br />1.4 Property. The Property is that certain real property generally located at 1901
<br />West Walnut Street, Santa Ana, California 92703 (APN 007-332-08), as more particularly
<br />described in the Legal Description attached to this Agreement as Exhibit "A".
<br />1.5. Use. Developer intends to use the Property pursuant to the Project Description
<br />attached to this Agreement as Exhibit `B". During the pre -development and construction
<br />timeframe, the use of the Property shall include special events planned by Developer, only upon
<br />prior approval by the City. After the completion of construction, the certificate of occupancy
<br />issued by the City shall govern the allowable uses on the Property, which shall include micro -
<br />farm and ancillary secondary uses. Any request by Developer to change the Project or use of
<br />the Property shall be subject to all applicable City review procedures and Approvals.
<br />ARTICLE 2
<br />DEFINITIONS
<br />2.1 Defined Terms. In addition to the usage of certain words, terns or phrases that
<br />are defined in the initial paragraph, the Recitals or in the body of this Agreement, the following
<br />words, terms and phrases are used in this Agreement, as follows, unless the particular context
<br />of usage of a word, term or phrase requires another interpretation:
<br />2.1.1 "Approvals" means any and all licenses, permits, approvals, consents,
<br />certificates (including certificate(s) of occupancy), rulings, variances, authorizations, or
<br />amendments to any of the foregoing, as shall be necessary or appropriate under any Law to
<br />commence, perform, or complete any construction, demolition, installation, use, maintenance,
<br />repair, occupancy or operation of the Project.
<br />2.1.2 "Automobile Liability Insurance" means insurance coverage against
<br />claims of personal injury (including bodily injury and death) and property damage covering all
<br />owned, leased, hired and non -owned vehicles used by the Developer regarding the Project, with
<br />minimum limits for bodily injury and property damage of ONE MILLION DOLLARS
<br />($1,000,000) each occurrence and TWO MILLION DOLLARS ($2,000,000) aggregate. Such
<br />insurance shall be provided by a business or commercial vehicle policy.
<br />
|