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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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cure, and thereafter diligently (in any event within one hundred and twenty (120) days after <br />receipt of such notice) prosecutes such cure to completion; <br />(d) Any representation or warranty in any Loan Document proves to <br />have been incorrect in any material respect when made; <br />(e) Reserved; <br />(f) Work on the construction ceases for ninety (90) consecutive days <br />for any reason (other than governmental orders, decrees or regulations, acts of God or any <br />other deity, strikes or other causes beyond Developer's reasonable control), provided that <br />the same do not, in the aggregate and in the City's reasonable judgment, threaten to delay <br />the completion of the construction beyond the required completion date set forth in this <br />Agreement; <br />(g) Developer is enjoined or otherwise prohibited by any Governmental <br />Authority from constructing and/or occupying the improvements and such injunction or <br />prohibition continues unstayed for ninety (90) days or more for any reason; <br />(h) Developer is dissolved, liquidated or terminated, or all or <br />substantially all of the assets of Developer are sold or otherwise transferred without the <br />Executive Director's prior written consent; <br />(i) Developer is the subject of an order for relief by a bankruptcy court, <br />or is unable or admits its inability to pay its debts as they mature, or makes an assignment <br />for the benefit of creditors; or Developer applies for or consents to the appointment of any <br />receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or <br />any part of its property; or any receiver, trustee, custodian, conservator, liquidator, <br />rehabilitator or similar officer is appointed without the application or consent of Developer <br />and the appointment continues undischarged or unstayed for ninety (90) days; or Developer <br />institutes or consents to any bankruptcy, insolvency, reorganization, arrangement, <br />readjustment of debt, dissolution, custodianship, conservatorship, liquidation, <br />rehabilitation or similar proceeding relating to it or any part of its property; or any similar <br />proceeding is instituted without the consent of Developer and continues undismissed or <br />unstayed for ninety (90) days; or any judgment, writ, warrant of attachment or execution, <br />or similar process is issued or levied against any property of Developer and is not released, <br />vacated or fully bonded within ninety (90) days after its issue or levy; <br />0) Any of the Senior Loan documents is amended, supplemented or <br />otherwise modified without City's prior written consent, to the extent the City's consent is <br />required pursuant to any subordination agreement between the City and the Senior Lender; <br />(k) Senior Loan Document Breach. Any default or breach of Developer <br />that continues uncured after the expiration of any applicable cure period under any other <br />loan document including, but not limited to, the Senior Loan Documents (including but not <br />limited to the Senior Loan Deed of Trust); <br />(1) Voluntary Suspension. The voluntary suspension of Developer's <br />45 <br />Westview House <br />City ]nclusionary Housing Program Loan Agreement <br />
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