75A - PH - 1901 E FIRST ST - Laserfiche WebLink

Home Browse Search

(or portion thereof) if and to the extent any such Mortgagee has within such thirty (30) day period commenced proceedings to obtain title and/or possession and thereafter the Mortgagee diligently pursues such proceedings to completion and cures or remedies the Breach, provided that, in such event, all noncurable Defaults shall be waived. 8.3 Mortgagee Not Obligated Under thetbis First Amended and Restated Development Agreement. Unless a Mortgagee expressly assumes Owner's Obligations to the City in accordance with Section 8.2-above, no Mortgagee shall in any way be obligated by the provisions of this Fit Amended and Restated Devel men Agreement, nor shall any covenant or any other provision in this First Amended and Restated Development Agreement be construed so-to obligate such Mortgagee. Nothing in this Eirat Amended and Restated Developmen Agreement shall be deemed to construe, permit or authorize any such Mortgagee to devote the Mortgage Parcel to any uses or to construct any improvements theR3eRQn the Mortaaaee Parcel, other than those uses or improvements provided for or authorized by this First Amended and Restated Development Agreement. 8.4 No Liability. No Mortgagee shall have any perseRal.- liability beyond its interest in the Mortgage Parcel acquired bye through enforcement of its Mortgage for the performance or payment of any covenant, liability, warranty or obligation hereunder, and thounder this First Amended and Restated Development Agreement City agrees that it shall look solely to the interests of such Mortgagee in such Mortgage Parcel for payment or discharge of any such covenant, liability, warranty or obligation. 8.5 No Amendment or Termination. This First Amended and Restated Development Agreement shall not, without the prior written consent of all Mortgagees holding Mortgages on eachiU portion of the Property -4" affecte"oFeby, be amended se as to (a) terminate this First Amended and Restated Oeyelopment Agreement prior to the expiration of the Term hereof (except as expreaul provided in- Section -8:4 -above with respect -- te-sush Psepea#,l or (b) change any provision of this EkIt Amended and Restated Development Agreement which, by its terms, is specifically for the benefit of Mortgagees oF spec kally-Geaters -- rights eR Mortgagees. No amendment to this First Amended and Restated Development Agreement affecting the Property or any part thereof, made without the consent of any Mortgagee holding a Mortgage on such Property, or any part thereof, shall be binding upon such Mortgagee or its successors in interest should it become a party hereto. 4W42%AWQ\42.32erss44M32v2S -24- 75A -120