Laserfiche WebLink
Section 17. CERTIFICATE OF COMPLETION <br />Upon satisfactory completion of the construction and upon the request of <br />Developer, or at its own election, the City shall issue a certificate of completion <br />("Certificate of Completion"). Such Certificate of Completion shall be, and shall so state, <br />conclusive determination of satisfactory completion of the construction. <br />If City declines to furnish a Certificate of Completion after written request from <br />Developer, the Executive Director shall, within thirty (30) days after receipt of the request, <br />provide Developer with a written statement of the reasons therefore. The statement shall <br />contain a description of the action(s) Developer must take to obtain a Certificate of <br />Completion. If the reason therefore is that the Developer has not completed a minor portion <br />of the Construction, City may, in its sole and absolute discretion, issue the Certificate of <br />Completion upon the posting with City of a bond or other form of security acceptable to <br />the Executive Director in the amount of the fair value of the uncompleted work. <br />A Certificate of Completion is not evidence of compliance with or satisfaction of <br />the Loan Documents or any obligation of Developer to any other party whatsoever, <br />including any holder of a mortgage or deed of trust. A Certificate of Completion is not <br />"notice of completion" referred to in Section 3093 of the California Civil Code. <br />A Certificate of Occupancy issued by the City will also meet the same purpose and <br />requirement as the Certificate of Completion. <br />Section 18. INDEMNIFICATION <br />18.1. Nonliability of City. Developer acknowledges and agrees that: <br />(a) The relationship between Developer and City is and shall remain <br />solely that of borrower and lender, City neither undertakes nor assumes any responsibility <br />to review, inspect, supervise, approve (other than for aesthetics) or inform Developer of <br />any matter in connection with the construction, including matters relating to: (i) the <br />perfonnance of the construction work, (ii) architects, contractors, subcontractors and <br />materialmen, or the workmanship of or materials used by any of them, or (iii) the progress <br />of the construction; and Developer shall rely entirely on its own judgment with respect to <br />such matters and acknowledges that any review, inspection, supervision, approval or <br />information supplied to Developer by City in connection with such matters is solely for the <br />protection of City and that neither Developer nor any third party is entitled to rely on it; <br />(b) Notwithstanding any other provision of any Loan Document: (i) the <br />City is not a partner, joint venture, alter -ego, manager, controlling person or other business <br />associate or participant of any kind of Developer and City does not intend to ever assume <br />any such status; (ii) City's activities in connection with the City/HOME Loan shall not be <br />"outside the scope of the activities of a lender of money" within the meaning of California <br />Civil Code Section 3434, as modified or recodified from time to time, and City does not <br />intend to ever assume any responsibility to any person for the quality or safety of the <br />Property; and, (iii) City shall not be deemed responsible for or a participant in any acts, <br />39 <br />The Crossroads at Washington <br />City HOME Loan Agreement <br />