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hearings for findings of deficiency but does not specify the <br />imposition of financial penalties for non-compliance. <br />***Section 6.4: IF the agreement were terminated, what <br />recourse would the City have and what would happen to the <br />obligations that are supposed to run for the duration of the <br />agreement (e.g., 55 year security patrol)? Agreement should <br />provide a financial penalty clause. <br />***Section 7.4: Gives owner a termination right for a material <br />default by City. This might be appropriate in a City lease but <br />given that the City has few meaningful obligations in the lease, <br />does not appear to be appropriate here. <br />Section 9: This Section gives owner recognition that it may <br />mortgage the property but does not require that the mortgagee <br />subordinate its interest to the agreement. Section 9(d) is helpful <br />because that Section clarifies that if a mortgagee takes the <br />property, it takes the property subject to this agreement. <br />However, neither the existing lender (if there is one) or a new <br />lender are parties to this agreement and this provision is of <br />questionable enforcement without a lender subordination. <br />***Section 10.4: Agreement should provide for strict <br />construction against the developer/owner. <br />Exhibit D should provide the method of calculation for impact <br />fees. <br />