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04 - Agmt - 605-611 E Washington
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04 - Agmt - 605-611 E Washington
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City Clerk
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Agenda Packet
Item #
04
Date
3/7/2011
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the Chief Executive Officer of the Managing General Partner of the Developer or in such other <br />manner as may be provided by law. <br />2007. Damages. In the event that Che Agency/City is liable for damages to Developer, such <br />liability shall not exceed costs incuned by the Developer in the performance of this Agreement and <br />shall not extend to compensation far loss of frtture income, profits or assets; provided, however, <br />Developer's only remedy for any breach of this Agreement by the Agency/City shall be an action for <br />specific performance of such party's obligations or exercise of Developer's right to terminate this <br />Agreement pursuant to Section 2002(f). <br />~: ``? <br />2008. Nom•ecourse Liability. Neither Developer <br />any personal liability under this Agreement, the Agency R,t <br />and Deeds of Trust, and any judgment, decree or orcjei` fo <br />action ip enforce the obligation ofDevelopec to repay t]ie lc <br />enforceable against Developer only to the extent ofDsvelog <br />2009. Cumulative Remedies; No Waiver':,, Agenc; <br />Project Documents are cumulative and in addition to all, righ <br />exercise by Agency/City of any right of remedy shall"ngt cor <br />nor invalidate any notice of default or ~iiy~ct done puisuaLi <br />Agency or City in the exercise of any'Othef'xight or reme] <br />implied from any omission by Agency/City;to take action on <br />persists or is repeated. i~TO .waiver of any .;default 'shall -aft <br />expressly waived, and any such waiver shall be operatrve ou <br />partner of Developer, shall have <br />Note, the City Promissory Note, <br />~~ent of money obtained in any <br />need, by such documents shall be <br />est:iu!the Property. <br />pity's rights ancJ,remedies under the <br />aril remedies provided by law. The <br />titute a cure or waiver of any default, <br />to any such notice, nor prejudice the <br />> No waiver ol• any default shall be <br />cgouilt of such default if such default <br />et any default other than the defarilt <br />Ior the~tiime and to the extent slated. <br />~. . <br />No waiver of any prpviston of.`,an Project Document shall=;bg construed ae a waiver of any <br />subsequent breach of~ Elje; same pro~lsion. Agency%City's con"sent to or approval of any act by <br />Developer requiring further consent oY' approval shall not be deemed to waive or render unnecessary <br />Agency/City'~S.con~ent to or appi;4~al ol'aitysubsegt~eri~ act. 'fhe Agency or the City's acceptance of <br />the late peiforSriatice;of;any oblig~tiou shall got.GOnstitute a waiver by Agency/City of the right to <br />requirc,piompt performance of alf<~urther obhgatiori"s; Agency/City's acceptance of any performance <br />following;the sending or filing.;of any•no>ice of default shall not constitute a waiver of either party's <br />right to pirdeeed with the execci5e of its<iemedies for any unfulfilled obligations; and Agency/City's <br />acceptance of-any,,paitial performance shall iiot constitute a waiver by Agency/City of any rights. <br />2100. <br />2101. Obligations Uncoliditional and Independent. Notwithstanding the existence at any <br />time of any obligation or liability of AgencyIcily to Developer, or any other claim by developer <br />against Agency/City, in connection with the Loan or otherwise, Developer hereby waives any right it <br />might otherwise have (a) to offset any such obligation, liability or claim against Developer's <br />obligations render the Loan Documents, or (b) to claim that the existence of any such outstanding <br />obligation, liability or claim excuses the nonperformance by Developer of any of its obligations <br />under the Loan Documents. <br />2102. Notices. All notices, demands, approvals and other coimnunications provided for in <br />the Loan Documents (each, a "Notice") shall be in writing and be delivered to the appropriate parry <br />by personal service or U.S. mail at its address as follows: <br />59 <br />
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