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20B - AA - STREETLIGHTS
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20B - AA - STREETLIGHTS
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Last modified
11/26/2014 2:57:58 PM
Creation date
11/26/2014 2:22:20 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Public Works
Item #
20B
Date
12/2/2014
Destruction Year
2019
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Confession of Judgment; Customer irrevocably authorizes and empowers SCE and SCE's <br />attorneys, upon breach and default by Customer as described in the preceding section, to appear <br />in any state or federal court in Los Angeles County, California, as Customer's attorney -in -fact and <br />confess judgment against Customer by entry of a confession of judgment pursuant to Code of Civil <br />Procedure § 1132 et. seq., or by any other appropriate means, for the full amount due plus all <br />costs of collection, including without limitation court costs and reasonable attorneys' fees. No <br />single exercise of the foregoing power to confess judgment will be deemed to exhaust the power, <br />whether or not any such exercise shall be held by any court to be invalid, voidable, or void; but the <br />power will continue undiminished and may be exercised from time to time as SCE may elect until <br />all amounts owing under this OBF Agreement have been paid in full. <br />Modification: Any change to this OBF Agreement must be in writing and signed by Customer and <br />SCE; except that during any given month, if Customer is unable to make full payment on the Loan <br />Obligation, payment arrangements may be made at SCE's sole discretion without modifying this <br />OBF Agreement in writing. Any written modification or amendment will not be effective unless and <br />until signed by SCE or such condition is waived by SCE in its sole and absolute discretion. <br />Term and Termination: It is the Parties intent that the term of this OBF Agreement and the EMS <br />Agreement run concurrently. Therefore, the OBF Agreement shall continue in effect until the Loan <br />Obligation is paid in full <br />Assignment; Notwithstanding anything to the contrary in this OBF Agreement, Customer may <br />not assign its rights or delegate its duties under the Agreement. <br />Additional Representations: Each person signing this OBF Agreement represents and warrants <br />that he or she Is duly authorized and has the legal capacity to execute and deliver this OBF <br />Agreement on behalf of Customer, and to perform their obligations under this OBF Agreement. <br />Customer further represents and warrants that if it Is a legal entity, it is in good standing in its state <br />of formation. <br />Miscellaneous: Except as otherwise specifically provided herein, all terms, provisions, <br />covenants, representations, warranties, agreements and conditions of the EMS Agreement shall <br />remain unchanged and in full force and effect. Should a conflict exist between this OBF <br />Agreement, the EMS Agreement and the documents incorporated by reference, this OBF <br />Agreement shall control. This OBF Agreement shall be construed and interpreted in accordance <br />with, and shall be governed and enforced In all respects according to, the laws of the State of <br />California. This OBF Agreement may be executed In one or more counterparts, each of which <br />shall be deemed an original but all of which shall constitute one and the same instrument. If any <br />one or more of the provisions contained in this OBF Agreement shall for any reason be held to be <br />invalid, illegal or unenforceable in any respect, then this OBF Agreement shall be construed as if <br />such invalid, illegal or unenforceable term or provision had never been contained herein and all <br />other provisions of this OBF Agreement shall be construed to remain fully valid, enforceable and <br />binding on the parties. The Recitals set forth above are hereby incorporated herein by reference. <br />[Remainder of page intentionally left blank] <br />Form 14 -792 <br />05/2012 <br />20B -41 <br />
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