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NS-2691
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Last modified
1/3/2012 1:01:04 PM
Creation date
7/28/2005 12:28:47 PM
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City Clerk
Doc Type
Ordinance
Doc #
NS-2691
Date
7/5/2005
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<br />jurisdiction, and the parties agree not defend against any application for provision relief on the <br />ground that a mediation is pending. <br /> <br />7.8 Interim Relief. In the event that Project, or any part, is delayed as a result of <br />any action under Section 7.5 and/or Section 7.7, Owner's obligation to pay fees under Sections 5.1.7, <br />5.1.8 and/or 5.1.9 shall be suspended until such action is resolved in favor of continuing the Project. <br /> <br />7.9 Entitlements Survive Termination. The parties acknowledge that the <br />Entitlements survive termination of this Agreement unless and until the City takes action, within its <br />police power authority to modify and/or revoke all or any portion of such Entitlements, or unless and <br />until termination of the Entitlements occurs automatically, if ever. Accordingly, if this Agreement is <br />terminated and, provided that the Entitlements are not modified or revoked in accordance with the <br />City police power, the City shall not collect and/or impose the fees set forth in Sections 5.1.7,5.1.8 <br />and/or 5.1.9 in connection with development pursuant to the Entitlements. <br /> <br />7.1 0 Miscellaneous. <br /> <br />(1) City does not waive any claim of defect in performance by Owner, if <br />on Periodic Review the City does not propose to modify or terminate this Agreement. <br /> <br />(2) Non-performance shall not be excused because of a failure of a third <br /> <br />person. <br /> <br />(3) Adoption of a law or other governmental actIvIty making <br />performance by either party unprofitable or more difficult or more expensive does not excuse the <br />performance of the obligation by the other party. <br /> <br />8. MORTGAGEE PROTECTIONS <br /> <br />8.1 Right to OwnerlNoticelMultiple Mortgagees. Owner shall have the <br />absolute right to encumber Owner's right, title and interest in, to and under this Agreement and the <br />Property pursuant to one or more Mortgages. Because certain portions of the Project may be <br />developed by one or more assignees, the Parties acknowledge and agree that different Mortgages <br />may encumber the Property and that there may be a separate Mortgage in effect with respect to <br />separate parcels within the Property. It is the intention of the Parties that the rights and protections <br />granted in this Section 8 to each Mortgagee shall only apply to the parcels upon which such <br />Mortgagee's Mortgage is a lien (each a "Mortgage Parcel"), and to the rights, privileges and <br />obligations under this Agreement relating to such Mortgage Parcel. <br /> <br />8.2 Notice of Breach to Mortgagee or Deed of Trust Holders; Right to Cure. <br />With respect to any mortgage or deed of trust granted by Owner as provided herein, whenever the <br />City delivers any Notice or demand to Owner with respect to any Breach by Owner under this <br />Agreement and if Owner fails to cure the Breach within the time set forth herein, the City shall <br />deliver to each Mortgagee a copy of such notice or demand accompanied by a writing to the affect <br />that Owner has failed to cure a Breach ("Mortgagee Notice"); provided that Owner or Mortgagee has <br />provided City with addresses for such purpose. Each such Mortgagee shall (insofar as the rights <br />granted by the City are concerned) have the right, at its option, within thirty (30) days after the <br />receipt of the Mortgagee Notice, to cure or remedy or commence to cure or remedy and thereafter to <br />pursue with due diligence the cure or remedy of any such Breach and to add the cost thereof to the <br /> <br />18 <br /> <br />DOCSOC/l I 10339vl 1124579-0001 <br /> <br />Ordinance NS-2691 <br />Page 25 of 73 <br />
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