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Commercial Rehab - FH Dailey with Deed - Signed
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Commercial Rehab - FH Dailey with Deed - Signed
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8/7/2024 9:08:33 AM
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8/7/2024 9:07:28 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
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contractor and subcontractors to comply with all other applicable provisions of the <br />Prevailing Wage Laws. Owner shall maintain or shall cause the contractor and <br />subcontractors to maintain such records as are necessary to determine if prevailing wages <br />have been paid as required pursuant to the Prevailing Wage Laws during the construction <br />of the Project. Owner shall cause the contractor to post at the Premises the applicable <br />prevailing rates of per diem wages. Owner shall indemnify, defend (with counsel approved <br />by City) and hold the Indemnitees harmless from and against all Liabilities which directly or <br />indirectly, in whole or in part, are caused by, arise in connection with, result from, relate to, <br />or are alleged to be caused by, arise in connection with, or relate to, the payment or <br />requirement of payment of prevailing wages (including without limitation, all claims that may <br />be made by contractors, subcontractors or other third party claimants pursuant to Labor <br />Code sections 1726 and 1781), the failure to comply with all applicable state and federal <br />labor laws, regulations and standards in connection with the construction of the Project, <br />including but not limited to the Prevailing Wage Laws, or any act or omission of Owner or <br />Owner's contractors and subcontractors with respect to the payment or requirement of <br />payment of prevailing wages, whether or not any insurance policies shall have been <br />determined to be applicable to any such Claims. It is further agreed that City does not, and <br />shall not, waive any rights against Owner which it may have by reason of this indemnity and <br />hold harmless agreement because of the acceptance by City, or the deposit with City, of <br />any of the insurance policies described in this Agreement. The provisions of this Section <br />shall survive the expiration or termination of this Agreement. <br />ARTICLE V <br />EVENTS OF DEFAULT <br />The occurrence of any one or more of the following events shall constitute an event <br />of default hereunder ("Event of Default"): <br />(a) Owner removes the Improvements from the Premises. <br />(b) Owner fails to maintain the Improvements and the Premises in good <br />condition and repair in violation of Section 4.3 and Owner fails to cure such default within <br />thirty (30) days following written notice from City. <br />(c) Owner fails to maintain insurance as required pursuant to the Loan <br />Documents, and Owner fails to cure such default within fifteen (15) days. <br />(d) A Transfer occurs in violation of Section 1.4(b). <br />(e) Any representation or warranty contained in this Agreement or any <br />certificate furnished in connection with the Loan or in connection with any request for <br />disbursement of Loan Proceeds proves to have been false or misleading in any material <br />adverse respect when made. <br />(f) Owner defaults in the performance of any term, provision, covenant or <br />agreement (other than an obligation enumerated in this Article V) contained in this <br />Agreement or in any other Loan Document, and unless such document specifies a shorter <br />cure period for such default, the default continues for ten (10) days in the event of a <br />10 <br />
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