My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
ILLUMINATION FOUNDATION (40)
Clerk
>
Contracts / Agreements
>
I
>
ILLUMINATION FOUNDATION (40)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/14/2024 3:25:41 PM
Creation date
11/7/2024 2:44:51 PM
Metadata
Fields
Template:
Contracts
Company Name
ILLUMINATION FOUNDATION
Contract #
A-2024-169
Agency
Community Development
Council Approval Date
10/15/2024
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
249
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
(a) Terminate this Agreement by giving written notice to Grantee and seek <br /> monetary damages for breach of the Agreement or restitution for the HHAP Grant. Upon written <br /> notice of termination and demand from the City, Grantee shall repay to the City all or some <br /> portion of the HHAP Grant proportionate to the scale and duration of the uncorrected <br /> noncompliance relative to the term of the Regulatory Agreement, or, at City's election, the total <br /> amount of funds disbursed by the City for the HHAP Grant multiplied by the percentage of the <br /> Project that has not been completed; provided, however, for an Event of Default described in <br /> Section 15.1(c), Grantee shall automatically, and without notice or other action on City's part, <br /> cause all such amounts to be immediately due and payable. <br /> (b) In its own right or by a court-appointed receiver, take possession of the <br /> Property, enter into contracts for and otherwise proceed with the completion of the construction <br /> by expenditure of its own funds, and operate the Project in accordance with the Regulatory <br /> Agreement. <br /> (c) Exercise any of its rights under this Agreement, the Regulatory <br /> Agreement, and any rights provided by law, including, without limitation, the right to seek <br /> specific performance and the right to foreclose on any security and exercise any other rights with <br /> respect to any security, inclusive of the Construction Security, all in such order and manner as <br /> City elects in its sole and absolute discretion. <br /> (d) Suspend or terminate the award of City funds if Grantee fails to comply <br /> with any term of such award. <br /> (e) Foreclose on the City Deed of Trust. <br /> 15.3 Cumulative Remedies: No Waiver. City's rights and remedies under the Grant <br /> Documents are cumulative and in addition to all rights and remedies provided by law. The <br /> exercise by City of any right or remedy shall not constitute a cure or waiver of any default, nor <br /> invalidate any notice of default or any act done pursuant to any such notice, nor prejudice the <br /> City in the exercise of any other right or remedy. No waiver of any default shall be implied <br /> from any omission by City to take action on account of such default if such default persists or is <br /> repeated. No waiver of any default shall affect any default other than the default expressly <br /> waived, and any such waiver shall be operative only for the time and to the extent stated. No <br /> waiver of any provision of any Grant Document shall be construed as a waiver of any <br /> subsequent breach of the same provision. City's consent to or-approval of any act by Grantee <br /> requiring further consent or approval shall not be deemed to waive or render unnecessary City's <br /> consent to or approval of any subsequent act. The City's acceptance of the late performance of <br /> any obligation shall not constitute a waiver by City of the right to require prompt performance <br /> of all further obligations; City's acceptance of any performance following the sending or filing <br /> of any notice of default shall not constitute a waiver of either party's right to proceed with the <br /> exercise of its remedies for-any unfulfilled obligations; and City's acceptance of any partial <br /> performance shall not constitute a waiver by City of any rights. <br />
The URL can be used to link to this page
Your browser does not support the video tag.