My WebLink
|
Help
|
About
|
Sign Out
Home
Inst 2005388458
CityHall
>
City Clerk
>
City Council
>
Recorded Documents
>
2005
>
Inst 2005388458
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/12/2009 4:02:01 PM
Creation date
5/12/2009 4:03:07 PM
Metadata
Fields
Template:
CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
7/22/2005
Recorded Document Type
DDA
Retention
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
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
44
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
(a) Upon an Agency Fault termination preceding the close of Escrow, Developer's <br />deposit shall be refunded in full. <br />(b) Upon a No Fault termination preceding the close of Escrow, Agency shall <br />reimburse one-half of Developer's deposit, $5,000, and retain the balance. <br />(c) Upon a Developer termination preceding the close of Escrow, Agency shall retain <br />Developer's deposit. <br />(d) Upon a No-Fault or Developer Fault termination following the close of Escrow but <br />prior to commencement of construction, Agency shall have the right to demand a reverter of title to the <br />Property back to Agency, in which case Agency shall refund to Developer all sums paid to date to Agency <br />by Developer minus Agency's portion of Closing costs. The cost and expense of revesting title in Agency <br />shall be borne by Developer. <br />(e) Upon an Agency Fault termination following the close of Escrow but prior to <br />commencement of construction, Agency shall have the right to demand a reverter of title to the Property <br />back to Agency, in which case Agency shall refund to Developer all sums paid to date to Agency by <br />Developer without deduction of any portion of Closing costs, and the cost and expense of revesting title in <br />Agency shall be borne by Agency. <br />(f) Upon a Developer Fault termination following close of Escrow but during <br />construction, Agency shall have the right to demand a reverter of title to the Property back to Agency, in <br />which case Agency shall refund to Developer all sums paid to date to Agency by Developer minus (i) <br />Agency's portion of Closing costs; and (ii) Agency's costs to either demolish the existing improvements, if <br />any, or design revised plans around said existing improvements. <br />(g) Upon an Agency Fault termination following close of Escrow but during <br />construction, Agency shall have the right to demand a reverter of title to the Property back to Agency, in <br />which case Agency shall refund to Developer all sums paid to date to Agency by Developer without <br />deduction of any portion of Closing costs and reimburse Developer the costs and expenses attributable to <br />improvements constructed to date and land acquisition. The cost and expense of revesting title in Agency <br />shall be borne by Agency. <br />(h) Upon a No-Fault termination following close of Escrow but during construction and <br />prior to substantial completion of construction, Agency shall have the right to demand a reverter of title to <br />the Property back to Agency, in which case Agency shall refund to Developer all sums paid to date to <br />Agency by Developer minus Agency's portion of Closing costs. The cost and expense of revesting title in <br />Agency shall be borne by Agency. There may be no No-Fault termination at or subsequent to substantial <br />completion of construction. <br />Article Six: SPECIFIC REQUIREMENTS REGARDING REMEDIES <br />6.01 Right of Reverter. <br />
The URL can be used to link to this page
Your browser does not support the video tag.