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75A - 301 EAST JEANETTE LANE
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03/02/2009
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75A - 301 EAST JEANETTE LANE
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Last modified
1/3/2012 4:23:09 PM
Creation date
2/24/2009 2:29:24 PM
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City Clerk
Doc Type
Agenda Packet
Item #
75A
Date
3/2/2009
Destruction Year
2014
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DRAFT <br />7. DEFAULT. <br />7.1 Owner Events of Default. Property Owner is in default under this First <br />Amendment upon the happening of one or more of the following events or conditions (each, an <br />"Owner Event of Default"): <br />(1) If a material warranty, representation, or statement made or <br />furnished by Property Owner to the City is false or proves to have been false in any material <br />respect when it was made; or <br />(2) A finding and determination made by the City following a periodic <br />review under the procedure provided for in Government Code Section 65865.1 and Section 6.1 of <br />this First Amendment that upon the basis of substantial evidence the Property Owner has not <br />complied in good faith with one or more of the material terms or conditions of this First <br />Amendment; <br />(3) Failure to comply with Governmental Requirements; <br />(4) Any other event, condition, act, or omission which materially <br />interferes with the intent and objectives of this First Amendment. <br />7.2 Procedure upon Default. <br />(1) Upon an Owner Event of Default, the City through the Executive Director <br />shall submit to Owner, ~ written notice of default, in the manner provided in Section 4.10 of the <br />Amended Agreement, identifying with specificity the nature of the alleged default and, when <br />appropriate, the manner in which said default may be satisfactorily cured. Upon receipt of the <br />notice of default, the Owner shall cure the identified default(s) at the earliest reasonable time after <br />receipt of the notice of default and shall complete the cure in any event not later than one hundred <br />and twenty (120) days after receipt of the notice of default, or such longer period as is reasonably <br />necessary to remedy such default(s), provided that the Owner shall continuously and diligently <br />pursue such remedy at all times until such default(s) is cured. If Owner has failed to remedy or <br />diligently proceed to remedy such default(s) after proper notice and expiration of said one <br />hundred and twenty (120) day cure period or such extended period as provided herein, the City <br />may terminate or amend this First Amendment in accordance with the procedure adopted by the <br />City. Failure or delay in giving notice of default shall not constitute a waiver of any default, nor <br />shall it change the time of default. <br />ii <br />75A-85 <br />
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