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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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(e) Conditions imposed subsequent to execution of this Agreement by the <br /> City's discretionary approvals makes development of the Property in the manner contemplated by <br /> this Agreement infeasible or substantially more expensive for Developer; or <br /> (f) If the Property materially changes prior to close of escrow; or <br /> (g) The Developer fails or refuses to approve the condition of title <br /> Agency is prepared to convey as constituting Conforming Condition of Title. <br /> Upon the happening of any of the above - described events, and at the election of <br /> either Party, this Agreement may be terminated by written notice to the other Party. Thereafter, <br /> neither Party shall have any rights against or liability to the other, except as set forth in this <br /> Agreement. <br /> 6.03 Fault of Agency. <br /> Except as to events constituting a basis for termination under Section 6.02, the <br /> following events each constitute a basis for Developer to take action against the Agency: <br /> (a) Agency without good cause fails to convey the Property within the <br /> manner and form herein called for and the Developer is otherwise entitled by this Agreement to such <br /> action or conveyance; or <br /> (b) The Agency breaches any other material provisions of this <br /> Agreement. <br /> Upon the happening of any of the above- described events, the Developer shall first <br /> notify the Agency in writing of its purported breach, failure or act above - described, giving the <br /> Agency three (3) working days from receipt of such notice to respond, and fifteen (15) working days <br /> to prepare an action plan to cure such breach, failure, or act. The Agency shall cure such breach, <br /> failure, or act within thirty (30) working days from the date of the action plan. If the nature of the <br /> breach or failure is such that it cannot reasonably be cured in thirty (30) days, then the Developer <br /> shall give the Agency such longer period as reasonably may be required for such cure or action <br /> provided that the Agency commences action to cure the breach within fifteen (15) working days from <br /> the date of the action plan and thereafter diligently pursues the cure to completion. In the event the <br /> Agency does not submit an action plan within three (3) days, does not then so cure within thirty (30) <br /> days of the action plan, or in the event that the Agency does not commence curing a default which is <br /> not curable within said thirty (30) days after the date of the action plan, the Developer thereafter shall <br /> be afforded the right to terminate this Agreement and any other rights afforded it by law or in equity. <br /> 6.04 Fault of Developer. <br /> Except as to events constituting a basis for termination under Section 6.02, the <br /> following events each constitute a basis for the Agency to exercise its rights pursuant to Section 7.01 <br /> of this Agreement, as applicable: <br /> (a) The Developer does not meet one or more of its pre- disposition <br /> conditions within the relevant times set forth in Article One above; <br /> 29 <br /> DOCSOC 746041 v4t24258.0002 <br />
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