SA 2016-002 - Laserfiche WebLink

Home Browse Search

Plan as the City deems reasonably necessary in its sole discretion. Any amendments to the adopted Bond Spending Plan will consider uses that advance the City's community development goats while maximizing fiscal and social benefits flowing to the affected taxing entities from successful. development, Notwithstanding any contrary provision hereof, uailesa date City expressly agrees otherwise, the City shall not be obligated to provide funding for any program or project in an amount exceeding dic Excess Bond'Procceds provided to the City pursuant to this A reeinent. 5, ENT17.2E ALGR i EIMENT; WAIVERS; AND AMENDMENTS 5.1 This Agreement constitutes the entire naderstamling and agreement of the parties with respect to the tratisfer and rise of Excess Bond Proceeds. This Agreement integrates all of the tcrnts and conditions mentioned herein or incidental hereto, and supersedes all negotiations or previous aereolnents between the parties with respect to the subject matter of this t4grecincr , 5,2 Tlus Agreement is intended solely for the benefit of the City and the Successor Agency. Notwithstanding any reference in this Agreement to persons oe entities other than the City and the Successor Agency, there skull bo no third patty beneficiaries under this Agreement. 5.3 All waivers of the provisions of this Agreement and all amendments to this Agreement nnust be in writing and signed by the authorized roprosorna.tives of the parties. 6, SEVERABILITY If any term, provision, covenant or condition of this Agreement is hold by a court of competent jutisdictiou to be invalid, void or unenforeeablo, thercmaindcr of file provisions shall continue in full force and offcct unless the rights and obligations aftheparties lravo been niawrially altered or abridged by such invalic9ation, voi.tling or raiwaforooability. In addition, the parties shall cooperate in good faith in an of£ort to arricad or tnodify this Agroeinout in a manner such that the purpose of any in6atlidatud or voided provision, covenant, or condition can be accomplished to the maxinntm extent legally permissible. if cittier party tails to aduguately perform an obligation required by this Agreement within thirty (30) calendar days of receiving written notice fiom the non- defroldug party, the party failing to porl'oran shall be in dcfiudi bcraundcr. In the event of default, the non - defaulting party will have till the rights and remedies available to it at law or in equity to enforce the provisions of this contract, including without limitation the tight to site for daruages for breach of contract or to seek specific performance. The rights unit remedies of the non - defaulting pasty entunerated in this pivagmph are cumulative and shall not limit the non - defaulting party's rights under any other provision of this Agreement, or otherwise waive or deny any right or remedy, at Inw or in equity, existing as of the date of the Agveemen t or hercinar£leir enacted or established, that may be available to the non- defaulting party against the defaulting party. R. BINDING ON.SUCCIFSSOUS This Agreement shall be binding on and shall inure to the benefit of all suoecssors and assigas of the parties, whether by agreement or operation of law. Resolution 2016 -002 Page 10 of 13