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25H - AGMT - AFFORDABLE HOUSING 2151 E 1ST ST
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06/21/2016
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25H - AGMT - AFFORDABLE HOUSING 2151 E 1ST ST
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Last modified
6/20/2016 10:17:15 AM
Creation date
6/16/2016 4:19:20 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
25H
Date
6/21/2016
Destruction Year
2021
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20 Civic C "crater Plaza (M -26) <br />P .CD, Box 1988 <br />Swim Anna California 92702 <br />With a copy to': City Attomey <br />City o'1` Santa A rraa <br />20 Civic ('enter Plaza, 7th Idoor'(M -2aa) <br />Sannta. A.taa, C;aiifornia 92702 <br />Addresses ['or olwiQe, may be chaang;eel its required. by writtcnn notice to all other parties. <br />All notices personally served shalt he effective w =host actually received. All nexuses <br />mailed shalt be effective th°ec (3) clays after deposit in the U.S, Cwlanl, postage prepaid. <br />The liareng;ontg nolvvitlustandiug, the rtaror rcc�eipt of any unotrce as the result o,f a change of <br />,address of which the sending party was not notified or as the 'result of a rdusanl to as cep't <br />delivery shall be deemetf receipt of such notice. <br />21.3 Survival of Rep resentautiaanw a>nad Warranties. All representations and <br />warraorties on the I,mui C ?cactrnlerlt�s sllaall survive the making of the Loan described'he*reiat <br />and, heave lyeenn or will he relied rail by t;ity notwithstanding ding ars'y investigation made by <br />either party. <br />21.1 No Third Parties Benclite[t. 'finis Agreement is mode for the purpose of <br />setting iiarth rights autr9 oiroligatreons Of Developer and the City, and no other par °toil shrill <br />have any rights hereualder or by aetason hancof. <br />21.5 Binslinp_ Effeetz Assignment til'Obligations. Tllis Agreetxleall shall binel, <br />and sl'tanll inure to the benclit of. Developer and City and their respective successors and <br />assigns. Cltlrer tlaaut as expremly provided to the contrary in this Agreement, Dtevcloper <br />sllall slot assign any OF its rights or obligations under any Loan L'larcumont Ownilhoart the <br />prior w-ritte:nn consent (If City, vttbich conSCntt May hu Withhold in C1tty't wile and tabsalute <br />discretion. Any such asstgnlraaent Wiflteynt ",stuff ctaulscott Shall, at Ci't,y "� option, lye Void. <br />21.6 l'riala' At reenucnts: haancndtzneants; Consents. This Agreement (logether <br />with the other l.o,;nv Documents) contains the entire agreement between the City and <br />Developer with respect to the Loan and the Property, and wall prior ulcgotiaatioans, <br />unclerstaurrthiigs and agreement,, are superseded by 'Ihirs Agreement and such other Loan <br />DoCILrurCrAN. NO alwnehlkaticnn of' any Loan Document (includinug, waivers, of rights said <br />conditions) shall be e.'laective unless in writing and signed by the party aganast whotn . <br />eonforeenment of such modifrcatioll rs sought, and theon only ror t1nG sgyecrRlc instanlce and for <br />the specific pu:rpow given. <br />21.7 C,o%erning Law. All of the Loan Documents shalt he gaaveroiecl by, and <br />construed and enfiyrced in aaecordimee wills, the laws of tiro State col. California and <br />Federal laws`, whichever is move Mringeni Dcvuloper iE-rQvoQaabty and unkxmiditnonally <br />.,ubtmtfi to aicjunsdicfi n of tlrc Superior (;oust of the State of California 'toY" the County <br />of Ciranlgc or the [.h iced Status lye- wt:riut Court of the C'e'ntrat District of C "tuMorru.a.. as, C.'ity . <br />many deem appropriate, in connection with any legal aeLiDn or p'rocec(trrug Llrixillg out of or <br />259) 48 <br />
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