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Item 68 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washigton Ave.
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Item 68 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washigton Ave.
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Clerk of the Council
Item #
68
Date
6/21/2022
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<br />36 <br />The Crossroads at Washington <br />City HOME Loan Agreement <br />City in writing of any of the following: (a) any pending or threatened environmental claim <br />against Developer or the Property; (b) any condition or occurrence that: (i) results in <br />noncompliance with any applicable environmental law; (ii) could reasonably be anticipated <br />to cause the Property to be subject to any restrictions on the ownership, occupancy, use or <br />transferability of the Property under any environmental law; or, (iii) could reasonably be <br />anticipated to form the basis of an environmental claim against the Property or Developer. <br />14.5. Environmental Indemnification by the Developer. Developer agrees to <br />defend, indemnify and hold harmless the City and their respective officers, directors, <br />employees and agents (collectively the "Indemnitees") from and against any and all <br />obligations (including removal and remediation), losses, claims (including third party <br />claims), suits, judgments, liabilities, penalties, damages (including consequential and <br />punitive damages), costs and expenses (including consultants, and attorneys' fees) of <br />whatever kind or nature whatsoever that may at any time be incurred by, imposed on, or <br />asserted against the Indemnitees directly or indirectly based on, or arising or resulting from <br />the actual or alleged presence of Hazardous Materials on the Property other than arising <br />from the gross negligence, willful misconduct and/or illegal actions of any Indemnitee and <br />the Existing Hazardous Materials (as such term is defined in the Ground Lease). <br />Section 15. OTHER AFFIRMATIVE COVENANTS <br /> <br />While any obligation of Developer under the City/HOME Loan Note or Deed of <br />Trust remain outstanding, the following provisions shall apply, except to the extent that the <br />Executive Director otherwise consents in writing: <br /> <br />15.1. Existence. Developer’s Managing General Partner shall maintain its <br />existence in good standing under the laws of the State of California, and Developer shall <br />provide documentation of such status annually to the City. <br />15.2. Protection of Lien. Developer shall maintain the lien of the City Deed of <br />Trust as a valid second priority deed of trust on the Property and take all actions, and <br />execute and deliver to City all documents, reasonably required by City from time to time <br />in connection therewith. <br />15.3. Notice of Certain Matters. Developer shall give notice to City, within ten <br />(10) days of Developer's learning thereof, of each of the following: <br />(a) any filed litigation or claim affecting or relating to the Property and <br />involving an amount in excess of $25,000; and any litigation or claim that might subject <br />Developer or any general partner of Developer to liability in excess of $50,000, whether <br />covered by insurance or not; <br />(b) any material dispute between Developer and a Governmental <br />Authority relating to the Property, the adverse determination of which would reasonably <br />be expected to have a material adverse effect on the Property; <br />(c) any change in Developer's principal place of business; <br />EXHIBIT 5
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