Laserfiche WebLink
<br />Developer elects to not close Escrow, it shall so inform the Agency in writing, at which point <br />this DDA and the Escrow shall automatically terminate, and neither party shall have any further <br />rights, obligations or liabilities hereunder. The representations and warranties set forth in this <br />Section 414.1 shall survive the Closing as to facts or conditions that would constitute a "material <br />alteration" to the value and/or development of the Property. <br /> <br />414.2 Developer's Representations The Developer represents and warrants to Agency <br />as follows: <br /> <br />A. Authoritv. Developer is a duly organized California corporation which is in good <br />standing and authorized to do business in the State of California. The Developer has full right, <br />power and lawful authority to purchase and accept the conveyance of Parcel A and Parcel B and <br />undertake all obligations as provided herein and the execution, performance and delivery of this <br />DDA by Developer has been fully authorized by all requisite actions on the part of the <br />Developer. <br /> <br />B. No Conflict. To the best of Developer's knowledge, Developer's execution, <br />delivery and performance of its obligations under this DDA will not constitute a default or a <br />breach under any contract, agreement or order to which the Developer is a party or by which it is <br />bound. <br /> <br />C. No Developer Bankruptcy. The Developer is not the subject of a bankruptcy <br />proceeding. Until the Closing, the Developer shall, upon learning of any fact or condition which <br />would cause any of the warranties and representations in this Section 414.2 not to be true as of <br />the Closing, immediately give written notice of such fact or condition to the Agency. Such <br />exception(s) to a representation shall not be deemed a breach by the Developer hereunder, but <br />shall constitute an exception which Agency shall have a right to approve or disapprove if such <br />exception would have an effect on the value and/or development ofthe Property. If the Agency <br />elects to close Escrow following disclosure of such information, Developer's representations and <br />warranties contained herein shall be deemed to have been made as ofthe Closing, subject to such <br />exceptiones). If, following the disclosure of such information, the Agency elects to not close <br />Escrow, then this DDA and the Escrow shall automatically terminate, and neither party shall <br />have any further rights, obligations or liabilities hereunder. The representations and warranties <br />set forth in this Section 414.2 shall survive the Closing." <br /> <br />Section 415. Obligation to Refrain from Discrimination <br /> <br />The Developer covenants and agrees for itself, its subcontractors and every successor in <br />interest to the Property or any party thereof, that there shall be no discrimination--against-or <br />segregation of any person, or group of persons, on account of sex, marital status, race, color, <br />religion, creed, national origin or ancestry in the sale, lease, sublease, transfer, use, occupancy, <br />tenure or enjoyment of the Property, nor shall be Developer itself or any person claiming under <br />or through it, establish or permit any such practice or practices of discrimination of segregation <br />with reference to the selection, location, number, use or occupancy of tenants, lessees, <br />subtenants, sublessees, or vendees of the Property. <br /> <br />20 <br />