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05 - JOINT PH - Vista Del Rio DDA
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05 - JOINT PH - Vista Del Rio DDA
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1/3/2012 3:32:53 PM
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4/5/2011 2:36:17 PM
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City Clerk
Doc Type
Agenda Packet
Item #
05
Date
3/21/2011
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16.2.4 Successors and Assigns. All of the terms, covenants and conditions of this <br />Agreement shall be binding upon Vista Del Rio and its permitted successors and assigns. Whenever <br />the term "Vista Del Rio" is used in this Agreement, such term shall include any other permitted <br />successors and assigns as herein provided. <br />16.2.5 Assignment by City or Agency. City and Agency may assign or transfer <br />any of their rights or obligations under this Agreement without the approval of the Vista Del Rio. <br />17. [RESERVED] <br />18. INDEMNIFICATION <br />18.1 Nonliability of Agency and City. Vista Del Rio acknowledges and agrees that: <br />(a) The relationship between Vista Del Rio, Agency, and City is and shall remain <br />solely that of borrower and lender, neither City nor Agency undertakes nor assumes any <br />responsibility to review, inspect, supervise, approve (other than for aesthetics) or to inform Vista Del <br />Rio of any matter in connection with the construction, including matters relating to: (i) the <br />perfornzance of the construction work, (ii) architects, contractors, subcontractors and materialmen, or <br />the workmanship of or materials used by any of them, or (iii) the progress of the construction; and <br />Vista Del Rio shall rely entirely on its own judgment with respect to such matters and acknowledges <br />that any review, inspection, supervision, approval or information supplied to Vista Del Rio by City or <br />Agency in connection with such matters is solely for the protection of City and Agency and that <br />neither Vista Del Rio nor any third party is entitled to rely on it; <br />(b) Notwithstanding any other provision of any Loan Document: (i) the Agency <br />and City are not a partner, joint venture, alter-ego, manager, controlling person or other business <br />associate or participant of any kind with Vista Del Rio and City does not intend to ever assume any <br />such status; (ii) City's and Agency's activities in connection with the Loans shall not be "outside the <br />scope of the activities of a lender of money" within the meaning of California Civil Code Section <br />3434, as modified or recodified from time to time, and neither City nor Agency intends to ever <br />assume any responsibility to any person for the quality or safety of the Property or Project; and <br />(iii) neither City nor Agency shall be deemed responsible for or a participant in any acts, omissions <br />or decisions of Vista Del Rio; <br />(c) Neither City nor Agency shall be directly or indirectly liable or responsible <br />for any loss or injury of any kind to any person or property resulting from any construction on, or <br />occupancy or use of, the Property or Project, whether arising from: (i) any defect in any building, <br />grading, landscaping or other onsite or offsite improvement; (ii) any act or omission of Vista Del Rio <br />or any of Vista Del Rio's agents, employees, independent contractors, licensees or invitees; or <br />(iii) any accident on the Property or Project or any fire or other casualty or hazard thereon; and <br />(d) By accepting or approving anything required to be performed or given to City <br />or Agency under the Loan Documents, including any certificate, financial statement, survey, <br />appraisal or insurance policy, neither City nor Agency shall be deemed to have warranted or <br />represented the sufficiency or legal effect of the same, and no such acceptance or approval shall <br />constitute a warranty or representation by City or Agency to anyone. <br />36 <br />DOCSOC/1475221 v5/200272-0004 <br />
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