AGENDA PACKET_2021-12-07 - Laserfiche WebLink

Home Browse Search

AAV MII:1k0J economic damages for any default, or to obtain any other remedy consistent with the purpose of this Agreement. 6.3 Ri2hts and Remedies are Cumulative. Except with respect to rights and remedies expressly declared to be exclusive in this Agreement, the rights and remedies of the parties are cumulative and the exercise by either parry of one or more of such rights or remedies shall not preclude the exercise by it, at the same or different times, of any other rights or remedies for the same default or any other default by the other parry. 6.4 Damages. In the event that the Agency is liable for damages to Developer, such liability shall not exceed costs incurred by the Developer in the performance of this Agreement and shall not extend to compensation for loss of future income, profits or assets. 6.5 Nonrecourse Liability. Neither Developer, nor any member, partner, officer, director, employee, agent or representative of Developer, shall have any personal liability under this Agreement, or the attached Note and Deed of Trust, and any judgment, decree or order for the payment of money obtained in any action to enforce the obligation of Developer to repay the loan evidenced by such documents shall be enforceable against Developer only to the extent of Developer's interest in the Property. 7. GENERAL PROVISIONS AND WARRANTIES As a material inducement to Agency to enter into this Agreement, Developer represents and warrants as follows, which representations and warranties are made solely by Developer and not by or on behalf of any partner of Developer: 7.1 Formation, Oualification and Compliance. Shelter Providers of Orange County, Inc. DBA HomeAid Orange County, Inc. is in compliance with all laws applicable to its business and has obtained all approvals, licenses, exemptions and other authorizations from, and has accomplished all filings, registrations and qualifications with, any Governmental Authority that are necessary for the transaction of its business. 7.2 Execution and Performance of Agency Loan Documents. 7.2.1 Developer has all requisite authority to execute and perform its obligations under the Agency Loan Documents. 7.2.2 The execution and delivery by Developer of, and the performance by Developer of its obligations under, each Loan Document that has been authorized by all necessary action and does not and will not: (a) require any consent or approval not heretofore obtained of any person having any interest in Developer; (b) violate any provision of, or require any consent or approval not heretofore obtained under, any articles of incorporation, by-laws or other governing document applicable to Developer; City Council 16 — 96 12/7/2021