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Inst 2001161041
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Inst 2001161041
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Last modified
7/20/2012 5:21:51 PM
Creation date
9/13/2010 10:35:34 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
7/17/2000
Recorded Document Type
DDA
Deed of Trust
Retention
PERM
Document Relationships
Inst 2003395366
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2003
Inst 2003519999
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2003
Inst 2004047236
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2004
Inst 2004047239
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2004
RDA Reso 2000-025
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2000
Reso 2000-112
(Approved by)
Path:
\City Clerk\City Council\Resolutions\2000
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Developer. However, prior to taking any such action, Agency agrees to notify Developer in writing <br /> if the condition of said improvements does not meet with the Maintenance Standards and to specify <br /> the deficiencies and the actions required to be taken by Developer to cure the deficiencies. Upon <br /> notification of any maintenance deficiency, Developer shall have thirty (30) days within which to <br /> commence to cure, and shall thereafter diligently prosecute the cure to completion; excepting only <br /> • <br /> that if the written notification states the problem is urgent relating to the public health and safety of <br /> . the City or the Agency, and such problem is capable of being rectified in such period of time, then <br /> Developer shall have forty -eight (48) hours to rectify the problem. <br /> In the event Developer fails to correct, remedy, or cure or has not commenced correcting, • <br /> remedying or curing such maintenance deficiency after notification and after the period of correction • <br /> has lapsed, then City and /or Agency shall have the right to maintain such improvements. Developer <br /> agrees to pay Agency such charges and costs. Until so paid, the Agency shall have a lien on the <br /> Property for the amount of such charges or costs, which lien shall be perfected by the recordation of a <br /> "Notice of Claim of Lien" against the Property. Upon recordation of a Notice of a Claim of Lien <br /> against the Property, such lien shall constitute a lien on the fee estate in and to the Property prior and <br /> superior to all other monetary liens except: (i) all taxes, bonds, assessments, and other levies which, <br /> by law, would be superior thereto; (ii) the lien or charge of any mortgage, deed of trust, or other <br /> security interest then of record made in good faith and for value, it being understood that the priority <br /> of any such lien for costs incurred to comply with this Agreement shall date from the date of the <br /> recordation of the Notice of Claim of Lien. Any such lien shall be subject and subordinate to any <br /> lease or sublease of the interest of Developer in the Property or any portion thereof and to any <br /> easement affecting the Property or any portion thereof entered into at any time (either before or after) <br /> the date of recordation of such a Notice. Any lien in favor of the Agency created'or claimed <br /> hereunder is expressly made subject and subordinate to any mortgage or deed of trust made in good <br /> faith and for value, recorded as of the date of the recordation of the Notice of Claim of Lien <br /> describing such lien as aforesaid, and no such lien shall in any way defeat, invalidate, or impair the <br /> • obligation or priority of any such mortgage or deed of trust, unless the mortgage or beneficiary <br /> thereunder expressly subordinates his interest, of record, to such lien. No lien in favor of the Agency <br /> created or claimed hereunder shall in any way defeat, invalidate, or impair the obligation or priority <br /> of any lease, sublease or easement unless such instrument is expressly subordinated to such lien. <br /> Upon foreclosure of any mortgage or deed of trust made in good faith and for value and recorded <br /> prior to the recordation of any unsatisfied Notice of Claim of Lien, the foreclosure - purchaser shall <br /> • take title to the Property free of any lien imposed by the Agency that has accrued up to the time of <br /> the foreclosure sale, and upon taking title to the Property, such foreclosure - purchaser shall only be <br /> obligated to pay costs associated with this Agreement accruing after the foreclosure - purchaser <br /> acquires title to the Property. If the Property is ever legally divided with the written approval of the <br /> Agency and fee title to various portions of the Property is held under separate ownerships, then the <br /> burdens of the maintenance obligations set forth herein and in this Agreement and the charges levied <br /> by the Agency to reimburse the Agency for the cost of undertaking such maintenance obligations of <br /> Developer and its successors and the lien for such charges shall be apportioned among the fee owners <br /> of the various portions of the Property under different ownerships according to the square footage of <br /> the land contained in the respective portions of the Property owned by them. Upon apportionment, <br /> no separate owner of a portion of the Property shall have any liability for the apportioned liabilities <br /> of any other separate owner of another portion of the Property, and the lien shall be similarly <br /> apportioned and shall only constitute a lien against the portion of the Property owned in fee by the <br /> owner who is liable for the apportioned charges levied by the Agency and secured by the apportioned <br /> lien and against no other portion of the Property. Developer acknowledges and agrees City and <br /> Agency may also pursue any and all other remedies available in law or equity. Developer shall be <br /> 25 <br /> DOCSOC1746041 v4\24258.0002 <br />
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