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the default in accordance with this section. The injured party shall give written notice of <br />default to the party in default, specifying the default complained of by the injured party. Delay <br />in giving such notice shall not constitute a waiver of any default nor shall it change the time <br />of default. The defaulting party must, within thirty (3 0) days following service of said written <br />notice, commence to cure, correct or remedy such failure or delay and shall complete such <br />cure, correction, or remedy with reasonable diligence. Upon a default by Developer which is <br />not cured within thirty (30) days following service of said notice, unless such default cannot <br />reasonably be cured within thirty (30) days, in which case Developer shall have such <br />additional time as reasonably necessary to complete such cure but no more than ninety (90) <br />days, the Agency shall have the right to terminate this Agreement by delivery of written notice <br />of termination to Developer. <br />8.2 Institution of Legal Actions. In addition to any other rights or remedies, <br />either party may institute legal action to cure, correct or remedy any default to recover <br />economic damages for any default, or to obtain any other remedy consistent with the purpose <br />of this Agreement. <br />8.3 Rights and Remedies are Cumulative. Except with respect to rights and <br />remedies expressly declared to be exclusive in this Agreement, the rights and remedies of the <br />parties are cumulative and the exercise by either party of one or more of such rights or <br />remedies shall not preclude the exercise by it, at the same or different times, of any other rights <br />or remedies for the same default or any other default by the other party. <br />8.4 Damages. In the event that the Agency is liable for damages to Developer, <br />such liability shall not exceed costs incurred by the Developer in the performance of this <br />Agreement and shall not extend to compensation for loss of future income, profits or assets. <br />8.5 Nonrecourse Liability, Neither Developer, nor any partner of Developer, nor <br />any member of any partner of Developer, nor any member, partner, officer, director, <br />employee, agent or representative of any member of any partner of Developer, shall have any <br />personal liability under this Agreement, or the attached Note and Deed of Trust, and any <br />judgment, decree or order for the payment of money obtained in any action to enforce the <br />obligation of Developer to repay the loan evidenced by such documents shall be enforceable <br />against Developer only to the extent of Developer's interest in the Property. <br />9. GENERAL PROVISIONS AND WARRANTIES <br />As a material inducement to Agency to enter into this Agreement, Developer <br />represents and warrants as follows, which representations and warranties are made solely <br />by Developer and not by or on behalf of any partner of Developer: <br />9.1 Formation, Qualification and Compliance. Tiny Tim LP is a California <br />limited partnership. Developer is in compliance with all laws applicable to its business and <br />has obtained all approvals, licenses, exemptions and other authorizations from, and has <br />accomplished all filings, registrations and qualifications with, any Governmental Authority <br />that are necessary for the transaction of its business. <br />9.2 Execution and Performance of Agency Loan Documents. <br />80A-109 <br />