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3 - LOAN AGREEMENT FOR AMCAL_2018-01-16
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3 - LOAN AGREEMENT FOR AMCAL_2018-01-16
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8/1/2018 9:24:34 AM
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2/14/2018 3:08:18 PM
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City Clerk
Agency
Community Development
Item #
3
Date
1/16/2018
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<br />17 <br /> <br /> <br />7.4 Maintenance of the Property. Solely at Developer’s expense, Developer <br />agrees to maintain the Property in a clean, orderly, good condition, and repair and keep the <br />Property free from any accumulation of debris and waste materials. If at any time <br />Developer fails to maintain, or cause to be maintained, the Property as required by this <br />section, and said condition is not corrected after the expiration of a reasonable period of time <br />not to exceed thirty (30) calendar days from the date of written notice from the Agency, <br />unless such condition cannot reasonably be cured within thirty (30) calendar days, in which <br />case Developer shall have such additional time as reasonably necessary to complete such <br />cure, the Agency may perform the necessary maintenance and Developer shall pay all <br />reasonable costs incurred for such maintenance. The Agency shall inspect the Property <br />annually after the date of issuance of the Certificate of Completion as described in Section <br />17 of this Agreement. <br /> <br />7.5 Obligation to Refrain from Discrimination. Developer covenants and <br />agrees for itself, its successors, its assigns and every successor in interest to the Property or <br />any part thereof, that there shall be no discrimination against or segregation of any person or <br />group of persons on account of race, color, creed, disability, religion, sex, marital status, <br />immigration status, ancestry or national origin in the sale, lease, sublease, transfer, use, <br />occupancy, tenure or enjoyment of the Property nor shall Developer itself or any person <br />claiming under or through him establish or permit any such practice or practices of <br />discrimination or segregation with reference to the selection, location, number, use or <br />occupancy of tenants, lessees, subtenants, sublessees or vendees of the Property. The <br />foregoing covenants shall run with the land and shall remain in effect for the term of the <br />Agreement. <br /> <br />8. DEFAULTS AND REMEDIES <br /> <br />8.1 Event of Default. Failure or delay by either party to perform any term or <br />provision of this Agreement within the time periods provided herein for such performance <br />constitutes a default under the Agreement. If any party defaults in performance of its <br />obligations, covenants or agreements hereunder, the defaulting party shall be entitled to cure <br />the default in accordance with this section. The injured party shall give written notice of <br />default to the party in default, specifying the default complained of by the injured party. <br />Delay in giving such notice shall not constitute a waiver of any default nor shall it change <br />the time of default. The defaulting party must, within thirty (30) calendar days following <br />service of said written notice, commence to cure, correct or remedy such failure or delay and <br />shall complete such cure, correction, or remedy with reasonable diligence. Upon a default <br />by Developer which is not cured within thirty (30) calendar days following service of said <br />notice, unless such default cannot reasonably be cured within thirty (30) calendar days, in <br />which case Developer shall have such additional time as reasonably necessary to complete <br />such cure but no more than ninety (90) calendar days, the Agency shall have the right to <br />terminate this Agreement by delivery of written notice of termination to Developer. <br /> <br />8.2 Institution of Legal Actions. In addition to any other rights or remedies, <br />either party may institute legal action to cure, correct or remedy any default to recover <br />EXHIBIT 3 <br />3-27
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