Laserfiche WebLink
Amended and Restated Development Agreement, nor shall any covenant <br />or any other provision in this First Amended and Restated Development <br />Agreement be construed to obligate such Mortgagee. Nothing in this First <br />Amended and Restated Development Agreement shall be deemed to <br />construe, permit or authorize any such Mortgagee to devote the Mortgage <br />Parcel to any uses or to construct any improvements on the Mortgagee <br />Parcel, other than those uses or improvements provided for or authorized <br />by this First Amended and Restated Development Agreement. <br />8.4 No Liability. No Mortgagee shall have any liability beyond its interest in <br />the Mortgage Parcel acquired through enforcement of its Mortgage for the <br />performance or payment of any covenant, liability, warranty or obligation <br />under this First Amended and Restated Development Agreement. City <br />agrees that it shall look solely to the interests of such Mortgagee in such <br />Mortgage Parcel for payment or discharge of any such covenant, liability, <br />warranty or obligation. <br />8.5 No Amendment or Termination. This First Amended and Restated <br />Development Agreement shall not, without the prior written consent of all <br />Mortgagees holding Mortgages on any portion of the Property, be <br />amended to (a) terminate this First Amended and Restated Development <br />Agreement prior to the expiration of the Term (except as expressly <br />provided above) or (b) change any provision of this First Amended and <br />Restated Development Agreement which, by its terms, is specifically for <br />the benefit of Mortgagees. No amendment to this First Amended and <br />Restated Development Agreement affecting the Property or any part <br />thereof, made without the consent of any Mortgagee holding a Mortgage <br />on such Property, or any part thereof, shall be binding upon such <br />Mortgagee or its successors in interest should it become a party hereto. <br />8.6 Condemnation or Insurance Proceeds. Nothing in this First Amended <br />and Restated Development Agreement shall impair the rights of any <br />Mortgagee, pursuant to its Mortgage, to receive insurance and /or <br />condemnation proceeds which are otherwise payable to Owner granting <br />such Mortgage. <br />8.7 Title by Foreclosure. Except as otherwise set forth herein, all of the <br />provisions contained in this First Amended and Restated Development <br />Agreement applicable to any of the Mortgage Parcel shall be binding on <br />and for the benefit of any person who acquires title to the property, or any <br />part thereof, by foreclosure under a Mortgage or transfer by deed in lieu. <br />8.8 Delegation to Mortgagee. Owner may delegate and /or assign <br />irrevocably to any Mortgagee the non - exclusive authority to exercise any <br />067619 \5448832v5 22 <br />