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CARIBOU INDUSTRIES (10)
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CARIBOU INDUSTRIES (10)
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Last modified
12/7/2023 3:44:13 PM
Creation date
12/2/2022 3:06:32 PM
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Contracts
Company Name
CARIBOU INDUSTRIES
Contract #
A-2020-265-02
Agency
Community Development
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ARTICLE 6 <br />MISCELLANEOUS TERMS <br />6.1 Entire Agreement. This Parking Agreement, which incorporates the DDA, <br />contains the entire agreement between the Parties relating to the rights herein granted and the <br />obligations herein assumed. Any oral representations or modifications concerning this Parking <br />Agreement shall be of no force and effect. This Parking Agreement may be amended only by a <br />subsequent document in writing, signed by the Parties. <br />6.2 Attorneys' Fees. In the event of any action or proceeding relating to this Parking <br />Agreement or any breach thereof, the prevailing Party shall be entitled to recover from the non - <br />prevailing Party, in addition to all other relief available to it, its reasonable attorneys' fees and <br />costs. <br />6.3 BindingEffect. This instrument shall be binding on and shall inure to the benefit <br />of Developer and City, and their respective permitted successors, assigns, heirs, executors and <br />administrators, and shall run with the land comprising the Parking Structure, and be binding <br />upon all successor owners, lessees and mortgagees of the Site, and inure to the benefit of all <br />successor owners of the Site and their mortgagees. <br />6.4 City Manager's Authority. The City Manager is hereby given the authority, on <br />behalf of the City, to approve minor, non -substantive amendments to this Parking Agreement, and <br />to give, condition or withhold the City's approvals as described herein, all without the need to <br />return to the City's governing board for approval or ratification. <br />6.5 Subordination. At Developer's request from time to time, the City shall sign such <br />documents as may be requested by Developer, to confirm that the City's rights under this <br />Parking Agreement, are subject and subordinate to other encumbrances on the Site including, <br />without limitation, deeds of trust and declarations of covenants, conditions, restrictions and <br />reciprocal easements; provided, however, that as a condition of signing any document, the City <br />shall be provided an agreement from the holder of the senior encumbrance that, except in the <br />case of an Event of Default on the part of the City, the City's rights under this Parking <br />Agreement including, without limitation, the Parking Covenant, shall not be disturbed. <br />[Signatures on, following pages] <br />Page 11 of 12 <br />5 5394.00049\3 3221248.8 Form of Parking Agreement <br />
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