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Executive Director has the discretion to allow the Seller and the <br />new Owner to cure a violation of the resale requirements imposed <br />by this Inclusionary Housing Covenants Declaration. <br />All such restitution shall be made to the City. Any funds received by the City <br />sander this provision of the Inclusionary Housing Covenants Declaration shall be <br />placed in the City's Inclusionary Housing Fund. <br />IV. Default Remedies <br />In addition to any other rights or remedies set forth in this Inclusionary Housing <br />Covenants Declaration, or allowed by law or equity, in the event of a default by <br />an Owner of any of the {owner's obligations under this Incluslonary Housing <br />Covenants Declaration, that Is not cured within the cure period provided below, <br />the City may apply to a court of competent jurisdiction for specific performance of <br />this Iriclusionary Housing Covenants Declaration, or foram injunction prohibiting <br />a proposed resale or transfer in violation of this Inclusionary Housing Covenants <br />Declaration. <br />V. Distribution of Insurance and Condemnation Proceeds <br />If the Inclusionary Unit Is condemned or the improvements damaged or <br />destroyed, all proceeds from insurance or condemnation shall be distributed to <br />the Owner, for purposes of restoring or replacing the Inclusionary Unit, unless the <br />Senior Lender Deed of Trust, the City Deed of Trust a the Project CC&Rs <br />provide otherwise. In that case, the Senior Lender Deed of trust, the City Deed <br />of Trust and the Project CC&Rs shall control, in that order of priority. <br />VI. Attorneys' Fees and Costs <br />If any action is brought to enforce the terms of this Inclusionary Housing <br />Covenants Declaration, the prevailing party shall be entitled to reasonable <br />attorneys' fees and costs. <br />VII. Controlling Agreement <br />The Owner covenants that it has not knowingly executed, and will not knowingly <br />execute, without the City's prior written approval, any otter agreements with <br />provisions contradictory to or in opposition to the provisions of this Inclusionary <br />Housing Covenants Declaration. <br />ror u8ionani 1-loutdrig CwoRanls € uclaratlon — Page 29 <br />aiy or Santa Aria January �o�r <br />25G -65 <br />