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10B Action 2012 0117
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10B Action 2012 0117
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1/20/2012 5:54:50 PM
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1/10/2012 5:11:24 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
1/17/2012
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_CC Agenda 2012 0117 CS+RG
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\City Clerk\City Council\Agenda Packets\2012\Packet 2012 0117
Reso 2012-006
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Path:
\City Clerk\City Council\Resolutions\2012
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(d) Pursue any and all other remedies available under this Agreement or under <br />law or equity to enforce the terms of the City Documents and City's rights thereunder. <br />9.5 Borrower's Remedies Upon an Event of City Default. Upon the occurrence of an <br />Event of City Default, in addition to pursuing any other remedy allowed at law or in equity or <br />otherwise provided in this Agreement, Borrower may bring an action for equitable relief seeking <br />the specific performance of the terms and conditions of this Agreement, and /or enjoining, <br />abating, or preventing any violation of such terms and conditions, and /or seeking to obtain any <br />other remedy consistent with the purpose of this Agreement, and may pursue any and all other <br />remedies available under this Agreement or under law or equity to enforce the terms of the City <br />Documents and Borrower's rights thereunder. <br />9.6 Remedies Cumulative, No Consequential Damages. Except as otherwise <br />expressly stated in this Agreement, the rights and remedies of the Parties are cumulative, and the <br />exercise by either Party of one or more of such rights or remedies shall not preclude the exercise <br />by it, at the same or different time, of any other rights or remedies for the same or any other <br />default by the other Party. Notwithstanding anything to the contrary set forth herein, a Party's <br />right to recover damages in the event of a default shall be limited to actual damages and shall <br />exclude consequential damages. <br />9.7 Inaction Not a Waiver of Default. No failure or delay by either Party in asserting <br />any of its rights and remedies as to any default shall operate as a waiver of such default or of any <br />such rights or remedies, nor deprive either Party of its rights to institute and maintain any action <br />or proceeding which it may deem necessary to protect, assert or enforce any such rights or <br />remedies in the same or any subsequent default. <br />9.8 Rights of Limited Partners. Provided that City has been given the address for <br />such notices, whenever City delivers any notice of default hereunder, City shall concurrently <br />deliver a copy of such notice to Borrower's limited partner(s) in accordance with Section 11.3 <br />The limited partner(s) shall have the same right as Borrower to cure or remedy any default <br />hereunder. <br />ARTICLE X <br />INDEMNITY AND INSURANCE <br />10.1 Indemnity. Borrower shall indemnify, defend (with counsel reasonably approved <br />by City) and hold Indemnitees harmless from and against any and all Claims, including without <br />limitation, Claims arising directly or indirectly, in whole or in part, as a result of or in connection <br />with Borrower's or Borrower's contractors, subcontractors, agents or employees development, <br />construction, improvement, operation, ownership or maintenance of the Project or the Property, <br />or any part thereof or otherwise arising out of or in connection with Borrower's performance <br />under this Agreement. Borrower's indemnification obligations under this Section 10.1 shall not <br />extend to Claims resulting solely from the gross negligence or willful misconduct of <br />Indemnitees. The provisions of this Section 10.1 shall survive the expiration or earlier <br />termination of this Agreement. It is further agreed that City does not and shall not waive any <br />rights against Borrower that they may have by reason of this indemnity and hold harmless <br />1755895.2 26 <br />
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