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WESTVIEW HOUSE L (6).P
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WESTVIEW HOUSE L (6).P
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Last modified
7/6/2022 12:10:09 PM
Creation date
7/6/2022 12:04:05 PM
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Contracts
Company Name
WESTVIEW HOUSE L.P
Contract #
A-2022-084
Agency
Community Development
Council Approval Date
5/17/2022
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indemnified under the Loan Documents. Such reimbursement obligations shall bear <br />interest from the date occurring twenty (20) days after City gives written demand to <br />Developer at the rate of Interest defined in the Note and shall be secured by the City Deed <br />of Trust. Such reimbursement obligations shall survive the cancellation of the <br />City/Inclusionary Housing Prograin Loan Note, release and reconveyance of the <br />City/Inclusionary Housing Program Loan Deed of Trust, issuance of a Certificate of <br />Completion, and termination of this Agreement <br />Subsequent to the making and disbursement of this Loan, the Developer shall pay for any <br />subsequent revisions, transfers, extensions, renewals, modifications, refinancing or <br />"workouts," and providing estoppels or subordinations of the City/Inclusionary Housing <br />Program Loan (collectively, "Changes"), and in the exercise of any of City's rights or <br />remedies under this Agreement. The City will receive from Developer in connection with <br />any request by Developer for a Change, a nonrefundable fee in the amount of Five Hundred <br />Dollars ($500) and Developer shall reimburse City for all of the City's reasonable out-of- <br />pocket expenses (including reasonable attorney's fees) incurred in the administration and <br />review of such Changes, to the extent such expenses exceed Five Hundred Dollars ($500). <br />Section 19. INSURANCE, CASUALTY AND CONDEMNATION <br />19.1. Prior to undertaking performance of work under this Agreement, <br />Developer shall maintain and shall require its subcontractors, if any, to obtain and <br />maintain insurance as described below: <br />a. Minimum Scope and Limit of Insurance — Coverage shall be at least as <br />broad as: <br />1. Commercial General Liability (CGL): Insurance Services Office <br />Form CG 00 01 covering CGL on an "occurrence" basis, including <br />products and completed operations, property damage, bodily injury and <br />personal & advertising injury with limits no less than $2,000,000 per <br />occurrence. If a general aggregate limit applies, either the general <br />aggregate limit shall apply separately to this project/location (ISO CG <br />25 03 or 25 04) or the general aggregate limit shall be twice the required <br />occurrence limit. <br />2. Automobile Liability: Insurance Services Office Form Number CA 00 <br />01 covering any auto (Code 1), or if Developer has no owned autos, <br />hired (Code 8), and non -owned autos (Code 9), with a limit no less than <br />$1,000,000 per accident for bodily injury and property damage. <br />3. Workers' Compensation: Insurance as required by the State of <br />California, with Statutory Limits, and Employer's Liability Insurance <br />with limit of no less than $1,000,000 per accident for bodily injury or <br />disease. <br />4. Professional Liability (Errors & Omissions): Insurance appropriate <br />40 <br />Westview House <br />City Inclusionary Housing Program Loan Agreement <br />
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