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NORTH BROADWAY HOUSING PARTNERS LP
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Last modified
4/18/2023 11:56:06 AM
Creation date
4/18/2023 11:49:28 AM
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Contracts
Company Name
NORTH BROADWAY HOUSING PARTNERS LP
Contract #
A-2023-027
Agency
Community Development
Council Approval Date
3/7/2023
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the performance of every term, covenant, and obligation contained herein. <br />21.12. Conflict of Interest. No member, official or employee of the City shall <br />have any direct or indirect interest in this Agreement, nor participate in any decision <br />relating to the Agreement that is prohibited by law. <br />21.13. Warranty Against Payment of Consideration. Developer warrants that <br />it has not paid or given, and will not pay or give, any third person any money or other <br />consideration for obtaining this Agreement. <br />21.14. Reserved. <br />21.15. Plans and Data. As additional collateral for the City/HOME-ARP Loan, <br />Developer hereby grants to the City a security interest in all plans and data concerning the <br />Property, subject to the rights of any Senior Lender. Such right of City shall be subject to <br />any right of the preparer of the plans to their use. <br />21.16. Authority to Enter Agreement. Each undersigned represents and warrants <br />that its signature hereinbelow has the power, authority and right to bind their respective <br />parties to each of the terms of this Agreement, and shall indemnify the City fully, including <br />reasonable costs and attorney's fees, for any injuries or damages to City in the event that <br />such authority or power is not, in fact, held by the signatory for Developer or is withdrawn. <br />21.17. Force Majeure. Notwithstanding specific provisions of this Agreement, <br />performance hereunder shall not be deemed to be in default where delays or defaults are <br />due to: war; insurrection; strikes; lock -outs; riots; floods; earthquakes; fires; casualties; acts <br />of God or other deities; acts of the public enemy; epidemics; quarantine restrictions; freight <br />embargoes; lack of transportation; governmental restrictions or priority; litigation; <br />unusually severe weather; inability to secure necessary labor, materials or tools; delays of <br />any contractor or supplier; acts of the other party; acts or failure to act of the City or any <br />other public or governmental City or entity (except that any act or failure to act of City <br />shall not excuse performance by City); or any other causes beyond the reasonable control <br />or without the fault of the party claiming an extension of time to perform An extension of <br />time for any such cause shall be for the period of the enforced delay and shall commence <br />to run from the time the party claiming such extension gives notice to the other party, <br />provided notice by the party claiming such extension is given within thirty (30) days after <br />the commencement of the cause. Times of performance under this Agreement may also be <br />extended in writing by the City and the Developer. <br />21.18. Approvals and Actions. <br />(a) The Executive Director shall have the authority, on behalf of the <br />City to make approvals, issue interpretations, waive provisions, grant extensions of time, <br />approve amendments to this Agreement and changes to the attached exhibits prior to their <br />execution and execute documents necessary to implement this Agreement, as may be <br />required by the Tax Credit Investor or any of Lender, so long as such actions: (1) were <br />authorized by the City Council's approval of the Loan Documents; (2) comply with the <br />HOME -ARP Program; and (3) do not reduce the length of affordability of the Restricted <br />56 <br />WISEPlace Permanent Supportive Housing <br />City HOME -ARP Loan Agreement <br />
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