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Inst 2005388458
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Inst 2005388458
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Last modified
8/12/2009 4:02:01 PM
Creation date
5/12/2009 4:03:07 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
7/22/2005
Recorded Document Type
DDA
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PERM
Document Relationships
Inst 2005388457
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2005
RDA Reso 2005-013
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2005
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reasonable likelihood that such permit or other approvals would otherwise be issued by the proper authority <br />in a timely manner and in substance satisfactory to Developer; <br />(d) Developer constructs or attempts to construct the Improvements in material <br />deviation from the latest approved Construction Plans; <br />(e) Developer fails to submit any plans or evidence required by Article One of this Part <br />by the date specified in the relevant section; <br />(f) Absent an enforced delay as defined in Section 3.04 of Part Two, Developer fails <br />to commence construction of the Improvements or to complete same within the time limits set forth in this <br />Agreement; <br />(g) Absent an enforced delay as defined in Section 3.04 of Part Two, the Developer <br />abandons or suspends construction of the Improvements for a period of sixty (60) days after written notice <br />by the Agency of such abandonment or suspension; <br />(h) The Developer voluntarily or involuntarily undertakes a Transfer not permitted by <br />this Agreement; <br />(i) Prior to Developer's satisfaction of the conditions for issuance of the Certificate of <br />Completion, the Developer breaches any other material provision of this Agreement. <br />Upon the happening of any of the above-described events, the Agency shall first notify the <br />Developer in writing of its purported breach, failure or act above-described, giving the Developer ten (10) <br />days from receipt of such notice to cure such breach, failure, or act, or if the nature of the breach or failure <br />is such that it cannot reasonably be cured in ten (10) days, then giving the Developer such longer period as <br />reasonably may be required for such cure or action provided that Developer commences action to cure the <br />breach or default within said ten (10) day period and thereafter diligently pursues the cure to completion. In <br />the event Developer does not then so cure within said ten (10) days, or in the event that Developer does <br />not commence curing a default which is not curable within said ten (10) days, the Agency thereafter shall <br />be afforded the right to terminate this Agreement, retain the Deposit if such default occurred prior to close <br />of escrow, and any other rights afforded it by law or equity. Thereafter, neither Party shall have any rights <br />against nor liability to the other, except as set forth in Article Five and Part Two. Notwithstanding the <br />foregoing, however, Agency shall not have the right to terminate this Agreement or retain the Depositor <br />any other amounts paid by Developer hereunder if Developer's default resulted in whole or in part from <br />Agency's acts, omissions, or the untruth or inaccuracy of any statement, agreement, or representation <br />made by Agency in connection with this Agreement or development of the Property. <br />5.05 Post-Termination Matters. <br />The following provisions shall apply in the event of termination of this Agreement pursuant to <br />Section 5.02 ("No-Fault"), Section 5.03 ("Agency Fault"), or Section 5.04 ("Developer Fault"), as the case <br />may be, and shall govern in the event of conflict with any other provisions of this Agreement; provided, <br />however, that nothing in this Agreement (including without limitation Article Five) shall limit the remedies <br />otherwise available to either Party at law or in equity following termination of this Agreement: <br />
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