Laserfiche WebLink
<br />EXHIBIT 3 <br />with full power to litigate, compromise or settle the same; provided that the Indemnified <br />Party shall have the right to review and approve or disapprove in its reasonable discretion <br />any such compromise or settlement; and, <br />(vi)Notwithstanding anything in this Section 18.2 to the <br />contrary, if judgment is entered against Developer and City by a court of competent <br />jurisdiction because of the concurrent active negligence of City or Indemnified Parties, <br />Developer and City agree that liability will be apportioned as determined by the court. <br />Neither Party shall request a jury apportionment. <br />18.3. Reimbursement of City. Developer shall reimburse City immediately <br />upon written demand for all costs reasonably incurred by City (including the reasonable <br />fees and expenses of attorneys, accountants, appraisers and other consultants, whether the <br />same are independent contractors or employees of City) in connection with the <br />enforcement of the Loan Documents and all related matters including all claims, demands, <br />causes of action, liabilities, losses, commissions and other costs against which City is <br />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 <br />City/HOME-ARP Loan Deed of Trust. Such reimbursement obligations shall survive the <br />cancellation of the City/HOME-ARP Loan Note, release and reconveyance of the <br />City/HOME-ARP Loan Deed of Trust, issuance of a Certificate of Completion, and <br />termination of this Agreement. <br />Subsequent to the making and disbursement of the City/HOME-ARP Loan, the Developer <br />shall pay for any subsequent revisions, transfers, extensions, renewals, modifications, <br />refinancing or "workouts," and providing estoppels or subordinations of the City/HOME- <br />ARP Loan (collectively, “Changes”), and in the exercise of any of City's rights or remedies <br />under this Agreement. The City will receive from Developer in connection with any request <br />by Developer for a Change, a nonrefundable fee in the amount of Five Hundred Dollars <br />($500) and Developer shall reimburse City for all of the City’s reasonable out-of-pocket <br />expenses (including reasonable attorney’s fees) incurred in the administration and review <br />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 />45 <br />WISEPlace Permanent Supportive Housing <br />City HOME-ARP Loan Agreement