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RDA Agmt 2008 1750 Doolittle LLC etc
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RDA Agmt 2008 1750 Doolittle LLC etc
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Last modified
2/24/2009 5:44:54 PM
Creation date
9/10/2008 11:39:11 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
9/2/2008
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PERM
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RDA Reso 2008-022
(Approved by)
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\City Clerk\City Council\Resolutions\2008
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7.5 Successors and Assigns. All of the terms of this Agreement shall apply to and be binding <br />upon, and inure to the benefit of, the successors and permitted assigns of the Agency and Borrower, <br />respectively, and all persons claiming under or through them. <br />7.6 Attorneys' Fees. If any action is instituted by any Party to this Agreement to enforce this <br />Agreement, the Loan or the Note, or to collect any sums due hereunder or pursuant to the Loan or the <br />Note, the prevailing Party in such action shall be entitled to recover its costs and reasonable attorneys' fees <br />as awarded by the court in that action. <br />7.7 Severability. If one or more provisions of this Agreement are found invalid, illegal or <br />unenforceable in any respect by a court of competent jurisdiction, the remaining provisions shall not in any <br />way be affected, prejudiced, disturbed or impaired thereby, and all other provisions of this Agreement shall <br />remain in full force and effect. <br />7.8 Amendments/Entire Agreement. Agency and Borrower reserve the right to amend this <br />Agreement by mutual consent. It is mutually understood and agreed that no amendment, modification, <br />alteration or variation of the terms of this Agreement shall be valid unless in writing and signed and <br />acknowledged and approved by both parties. This Agreement constitutes the entire agreement of the <br />parties and no oral understandings or agreement not incorporated herein shall be binding on either Party. <br />7.9 Joint and Several Liability. If the Borrower consists of more than one person or entity, <br />each shall be jointly and severally liable to the Agency for the performance of this Agreement. <br />7.10 Time. Time is of the essence in the performance of the terms and conditions of this <br />Agreement. <br />7.11 Governing Law. The laws of the State of California shall govern this Agreement. <br />7.12 Non-Liability of Agency and City Officials, Emgloyees and Agents. No member, official, <br />employee or agent of the Agency or the City shall be personally liable to the Borrower, or any successor in <br />interest to the Borrower, in the event of any default or breach by the Agency or for any amount which may <br />become due to Borrower or any successor under the terms of this Agreement. <br />7.13 Aaency's Rights and Consent. No forbearance, failure or delay by the Agency in <br />exercising any right, power or remedy, nor any single or partial exercise by the Agency of any right or <br />remedy hereunder shall preclude the further exercise of such right, power or remedy. <br />Agency's consent to any act or omission by Borrower may not be construed as the <br />Agency's consent to any other or subsequent act or omission or as a waiver of the requirement to obtain <br />Agency's consent in any other instance. All of Agency's rights, powers and remedies are cumulative and <br />shall continue in full force and effect until specifically waived in writing by Agency. <br />7.14 Duration/Survival. This Agreement shall continue in full force and effect until the <br />obligations due under this Agreement and the Note have been paid in full. Notwithstanding the foregoing, <br />the indemnification provisions of Section 4.1 of this Agreement shall survive the expiration of this <br />Agreement and the making and repayment of the Loan. <br />1113396.3 9 ~_~,,"s~s~ d= - - ,_ <br />
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