My WebLink
|
Help
|
About
|
Sign Out
Home
Agmt 2005 Mercy Housing California (2)
CityHall
>
City Clerk
>
City Council
>
Agreements
>
2005
>
Agmt 2005 Mercy Housing California (2)
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/10/2007 12:28:21 PM
Creation date
5/10/2007 12:28:19 PM
Metadata
Fields
Template:
CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
9/6/2005
Retention
PERM
Document Relationships
Agmt 2005 Mercy Housing California (3)
(Amended by)
Path:
\City Clerk\City Council\Agreements\2005
Agmt 2006 Mercy Housing California
(Amended by)
Path:
\City Clerk\City Council\Agreements\2006
Agmt 2006 Mercy Housing California (2)
(Amended by)
Path:
\City Clerk\City Council\Agreements\2006
RDA Reso 2005-018
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2005
RDA Reso 2005-019
(Reference)
Path:
\City Clerk\City Council\Resolutions\2005
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
10
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
<br />10. Expenses. Except as otherwise expressly provided herein or in the Letter Agreement, all <br />costs and expenses (including, without limitation, all legal fees and expenses) incurred in <br />connection with this Agreement and the activities contemplated hereby shall be paid by the Party <br />incurring the sanie. <br /> <br />11. Confidentiality; Dissemination of Information. During the term of this Agreement, each <br />Party shall obtain the consent of the other Party prior to issuing or permitting any of its officers, <br />employees or agents to issue any press release or other information to the press with respect to this <br />Agreement; provided however, no Party shall be prohibited from supplying any information to its <br />representatives, agents, attorneys, advisors, financing sources and others to the extent necessary to <br />accomplish the activities contemplated hereby so long as such representatives, agents, attorneys, <br />advisors, financing sources and others are made aware of the terms of this Section. Nothing <br />contained in this Agreement shall prevent either Party at any time from furnishing information <br />required to be disclosed pursuant to a legal requirement. <br /> <br />12. Execution of Disposition and Development Agreement. If the Parties successfully <br />negotiate a DDA, Agency shall promptly conduct the noticed public hearing required by <br />Community Redevelopment Law (California Health & Safety Code Section 33300 et seq.), shall <br />comply with all other applicable requirements, and shall recommend approval of the DDA to the <br />Agency's governing board. The Agency shall have no legal obligation to convey the Property <br />unless and until the DDA has been approved by the Agency governing board and executed by its <br />authorized representative. <br /> <br />13. Termination. This Agreement may be terminated at any time by mutual consent of the <br />Parties. Agency shall have the right to terminate this Agreement upon its good faith determination <br />that Developer is not proceeding diligently and in good faith to carry out its obligations pursuant to <br />this Agreement. Agency shall exercise such right by providing at least ten (10) days' advance <br />written notice to Developer which notice shall describe the nature of Developer's default <br />hereunder. Notwithstanding the foregoing, if Developer commences to cure such default within <br />such 1 O-day period and diligently prosecutes such cure to completion within the earliest feasible <br />time but not later than forty-five (45) days following the date of the notice, this Agreement shall <br />remain in effect. Developer shall have the right to terminate this Agreement, effective upon 10 <br />days' written notice to Agency, if the results of its investigation of the Property are unsatisfactory, <br />in Developer's sole and absolute discretion, with respect to Developer's desired redevelopment <br />activities or if Developer is unable to obtain other necessary approvals, rights or interests. <br />Notwithstanding anything to the contrary contained herein, this Agreement shall terminate without <br />notice and shall be of no further force and effect on such. date that Agency ceases to have an <br />ownership interest in the Property. Neither Party shall have the right to seek an award of damages <br />as a result of the termination of this Agreement pursuant to this Section. If at any time after the <br />first three months of the Term, Agency terminates this Agreement for any reason other than an <br />uncured Developer default, Agency shall pay Developer $50,000 to compensate Developer for its <br />overhead costs related to performance under this Agreement; provided however, Agency shall <br />have no obligation to make such payment ifthe Agency does not acquire the Property or if the <br /> <br />768633_6 <br /> <br />5 <br />
The URL can be used to link to this page
Your browser does not support the video tag.