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80A - JOINT - LOAN AGMT AMCAL
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02/07/2017
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80A - JOINT - LOAN AGMT AMCAL
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Last modified
2/2/2017 4:09:44 PM
Creation date
2/2/2017 3:55:17 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
80A
Date
2/7/2017
Destruction Year
2022
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21.12 Conflict of Interest. No member, official or employee of the City shall have any <br />direct or indirect interest in this Agreement, nor participate in any decision relating to the <br />Agreement which is prohibited by law. <br />21.13 Warranty Against Payment of Consideration. Developer warrants that it has <br />not paid or given, and will not pay or give, any third person any money or other consideration for <br />obtaining this Agreement. <br />21.14 [RESERVED] <br />21.15 Plans and Data. Where Developer does not proceed with the work and <br />construction of the Project, and when this Agreement is terminated with respect thereto for any <br />reason, Developer shall deliver to City any and all plans and data concerning the Property, and <br />City or any person or entity designated by City shall have the right to use such plans and data <br />without compensation to Developer. Such right of City shall be subject to any right of the <br />preparer of the plans to their use. <br />21.16 Authority to Enter Agreement. Each undersigned represents and warrants that its <br />signature hereinbelow has the power, authority and right to bind their respective parties to each of <br />the terms of this Agreement, and shall indemnify the City fully, including reasonable costs and <br />attorney's fees, for any injuries or damages to City in the event that such authority or power is not, <br />in fact, held by the signatory or is withdrawn. <br />21.17 Transfer of Developer Limited Partner's Interest. Notwithstanding anything <br />to the contrary in this Agreement or the Loan Documents, no consent shall be required of the <br />City (and it shall not be deemed a default or an Event of Default under any of the Loan <br />Documents), in connection with the transfer and/or the assignment by the Developer's limited <br />partner of its interest in the Developer to an entity controlled or managed by an entity which is <br />related to or under common control with the Developer's limited partner. <br />21.18 Removal of Developer's General Partner. Notwithstanding anything to the <br />contrary in this Agreement or the Loan Documents, the removal and /or replacement of a General <br />Partner for cause in accordance with the Partnership Agreement shall not require the consent of <br />the City and shall not shall not constitute a default or an Event of Default under this Agreement <br />or the Loan Documents or accelerate the maturity of the Inclusionary Loan. If the Developer's <br />limited partner exercises its right to remove a General Partner, City will not unreasonably <br />withhold its consent to the substitute general partner; provided however, the consent of either the <br />City shall not be required if the substitute general partner is an affiliate of the Developer's limited <br />partner. The substitute general partner shall assume all of the rights and obligations of the <br />removed general partner hereunder. <br />:1 <br />.O � N <br />
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