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DEPOT AT SANTIAGO, LP - 2013
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DEPOT AT SANTIAGO, LP - 2013
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Last modified
6/9/2014 1:25:43 PM
Creation date
9/30/2013 10:28:15 AM
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Contracts
Company Name
DEPOT AT SANTIAGO, LP
Contract #
A-2013-072
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
5/20/2013
Destruction Year
0
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money under any Loan Document, and such failure is not cured within fifteen (15) Business <br />Days after Developer's receipt of written notice that such obligation was not performed when <br />due; <br />(c) Developer fails to perform any obligation (other than the <br />obligations described in subparagraphs (a) and (b) above) under any Loan Document, and such <br />failure is not cured within thirty (30) days after Developer's receipt of written notice that such <br />obligation was not performed; provided that, if cure cannot reasonably be effected within such <br />thirty (30) -day period, such failure shall not be an Event of Default so long as Developer (in any <br />event, within ten (10) days after receipt of such notice) commences to cure, and thereafter <br />diligently (in any event within ninety (90) days after receipt of such notice) prosecutes such cure <br />to completion; <br />(d) Any representation or warranty in any Loan Document proves to have <br />been incorrect in any material respect when made; <br />(e) The Property is materially damaged or destroyed by fire or other <br />casualty unless Developer fulfills the Restoration Conditions set forth in the insurance provisions <br />of this Agreement within one hundred twenty (120) days (unless extended pursuant to Section <br />19.5) and thereafter diligently restores the Property in accordance with this Agreement; <br />(f) Work on the construction ceases for thirty (30) consecutive days for any <br />reason (other than governmental orders, decrees or regulations, acts of God or any other deity, <br />strikes or other causes beyond Developer's reasonable control), provided that the same do not, in <br />the aggregate and in the City's reasonable judgment, threaten to delay the completion of the <br />construction beyond the required completion date set forth in this Agreement; <br />(g) Developer is enjoined or otherwise prohibited by any Governmental <br />Authority from constructing and /or occupying the improvements and such injunction or <br />prohibition continues unstayed for sixty (60) days or more for any reason; <br />(h) Developer is dissolved, liquidated or terminated, or all or substantially <br />all of the assets of Developer are sold or otherwise transferred without the City Project <br />Manager's prior written consent; <br />(i) Developer is the subject of an order for relief by a bankruptcy court, or <br />is unable or admits its inability to pay its debts as they mature, or makes an assignment for the <br />benefit of creditors; or Developer applies for or consents to the appointment of any receiver, <br />trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or any part of its <br />property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar <br />officer is appointed without the application or consent of Developer and the appointment <br />continues undischarged or unstayed for ninety (90) days; or Developer institutes or consents to <br />any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, <br />custodianship, conservatorship, liquidation, construction or similar proceeding relating to it or <br />any part of its property; or any similar proceeding is instituted without the consent of Developer <br />and continues undismissed or unstayed for ninety (90) days; or any judgment, writ, warrant of <br />9M <br />
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