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WILD ORCHIDS INVESTMENTS, LLC
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Last modified
6/19/2024 3:02:56 PM
Creation date
6/19/2024 2:17:54 PM
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Contracts
Company Name
WILD ORCHIDS INVESTMENTS, LLC
Contract #
A-2022-254-18
Agency
Planning & Building
Council Approval Date
6/21/2022
Expiration Date
11/15/2028
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I. Enforcement of Liens by The rights conferred upon the City by Owner under <br />Section 8 of this Agreement expressly include the power to establish and enforce a lien or other <br />encumbrances against the Property or any portion thereof, subject to all then existing other liens <br />and encumbrances on the Property, in an amount reasonably necessary to reimburse the City for <br />its reasonable costs of the necessary and reasonable costs incurred by the City under Section 8(G) <br />to restore the Improvements to the maintenance standard required under this Section 8, including <br />reasonable attorney's fees and costs of the prevailing party associated with the correction of the <br />Maintenance Deficiency in connection with such action. <br />J. No approval by Owner shall be necessary for the City to establish and foreclose a lien <br />for non-payment of amounts expended by the City to cure a Maintenance Deficiency under Section <br />8 of this Agreement. No failure by the City to enforce any default pertaining to the maintenance, <br />repair or replacement of any element of the Improvements under Section 8 shall be deemed to be <br />a waiver of the right or power of the City to enforce any subsequent default thereof by Owner. <br />Section 9. TERM OF AGREEMENT. This agreement shall remain in effect for a <br />period of 5 years from the Effective Date or the date the Property is no longer owned by <br />Owner, whichever is earlier. <br />Section 10. INTEGRATION. This Agreement contains the entire understanding <br />between the Parties relating to the transaction contemplated by this Agreement, except as <br />otherwise provided. All prior contemporaneous agreements, understandings, <br />representations and statements, oral or written, are merged in this Agreement and shall be <br />of no further force or effect. This Agreement constitutes the entire understanding and <br />agreement of the Parties on the subject matter herein, notwithstanding any previous <br />negotiations or agreements between the Parties or their predecessors in interest with respect <br />to all or any part of the subject matter hereof. <br />Section 11. SEVERABILITY. If any portion of this Agreement is declared invalid, <br />illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining <br />provisions shall continue in full force and effect. <br />Section 12. AMENDMENT. No amendment, modification or supplement of this <br />Agreement shall be valid or binding unless executed in writing and signed by both Parties. <br />
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