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VISTA DEL RIO PARTNERS, L.P.
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VISTA DEL RIO PARTNERS, L.P.
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Last modified
1/29/2015 11:14:02 AM
Creation date
1/28/2015 5:32:39 PM
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Contracts
Company Name
VISTA DEL RIO PARTNERS, L.P.
Contract #
A-2009-214
Agency
Community Development
Council Approval Date
7/20/2009
Destruction Year
0
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(f) The Property is materially damaged or destroyed by fire or other casualty <br />unless Vista Del Rio fulfills the Restoration Conditions set forth in the insurance provisions of this <br />Agreement within ninety (90) days (unless extended pursuant to Section 19.5) and thereafter <br />diligently restores the Property in accordance with this Agreement; <br />(g) 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, strikes <br />or other causes beyond Vista Del Rio's reasonable control), provided that the same do not, in the <br />aggregate and in the City's reasonable judgment, threaten to delay the completion of the construction <br />beyond the required completion date set forth in this Agreement and the Schedule of Performance; <br />(h) Vista Del Rio is enjoined or otherwise prohibited by any Governmental <br />Authority from constructing and /or occupying the improvements and such injunction or prohibition <br />continues unstayed for sixty (60) days or more for any reason; <br />(i) [intentionally omitted]; <br />0) Vista Del Rio is dissolved, liquidated or terminated, or all or substantially all <br />of the assets of Vista Del Rio are sold or otherwise transferred without the Executive Directors' prior <br />written consent; <br />(k) Vista Del Rio is the subject of an order for relief by a bankruptcy court, or is <br />unable or admits its inability to pay its debts as they mature, or makes an assignment for the benefit <br />of creditors; or Vista Del Rio applies for or consents to the appointment of any receiver, trustee, <br />custodian, conservator, liquidator, rehabilitator or similar officer for it or any part of its property; or <br />any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed <br />without the application or consent of Vista Del Rio and the appointment continues undischarged or <br />unstayed for ninety (90) days; or Vista Del Rio institutes or consents to any bankruptcy, insolvency, <br />reorganization, arrangement, readjustment of debt, dissolution, custodianship, conservatorship, <br />liquidation, Construction or similar proceeding relating to it or any part of its property; or any similar <br />proceeding is instituted without the consent of Vista Del Rio and continues undismissed or unstayed <br />for ninety (90) days; or any judgment, writ, warrant of attachment or execution, or similar process is <br />issued or levied against any property of Vista Del Rio and is not released, vacated or fully bonded <br />within ninety (90) days after its issue or levy; or <br />(1) (i) any of the Senior Loan documents is revoked or terminated, in whole or in <br />part and for any reason (except due to repayment of such loans), without the Executive Directors' <br />prior written consent, or (ii) Vista Del Rio defaults or otherwise fails to perform any of its duties or <br />obligations under or in connection with any of the Senior Loan documents, subject to all applicable <br />notice and cure periods, or (iii) any of the Senior Loan documents is amended, supplemented or <br />otherwise modified without City's prior written consent, which consent shall not be unreasonably <br />withheld. Notwithstanding anything to the contrary contained herein, City hereby agrees that any <br />cure of any default made or tendered by the Limited Partner shall be deemed to be a cure by Vista <br />Del Rio and shall be accepted or rejected on the same basis as if made or tendered by Vista Del Rio. <br />20.2 Remedies Upon Default. Upon the occurrence of any Event of Default, City or <br />Successor Agency may, at their respective option and in their absolute discretion, do any or all of the <br />following: <br />42 <br />DOCSOC/1475221v 10/200272 -0004 <br />
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