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NORTH BROADWAY HOUSING PARTNERS LP (2)
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NORTH BROADWAY HOUSING PARTNERS LP (2)
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Last modified
4/18/2023 1:42:00 PM
Creation date
4/18/2023 1:41:24 PM
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Contracts
Company Name
NORTH BROADWAY HOUSING PARTNERS LP
Contract #
A-2023-031-02
Agency
Community Development
Council Approval Date
3/7/2023
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pay the City on demand all expenses, costs and fees (including, without limitation, <br />reasonable attorneys' fees and expenses) paid or incurred by the City in connection with <br />the enforcement of this provision, provided that such expenses, costs and fees shall be <br />subordinate to the Senior Loan made to Developer and the Senior Loan Documents. <br />22.2. Specific Performance. The City shall have the right to mandamus or other <br />suit, action or proceeding at law or in equity to require Developer to perform its obligations <br />and covenants under these Restrictions or to enjoin acts on things, which may be unlawful, <br />or in violation of the provisions of these Restrictions. The Developer shall be liable to pay <br />the City on demand all expenses, costs and fees (including, without limitation, reasonable <br />attorneys' fees and expenses) paid or incurred by the City in connection with the <br />enforcement of these Restrictions. <br />22.3. Right to Cure at Developer's Expense. The City shall have the right to cure <br />any monetary Event of Default by Developer under these Restrictions. The Developer <br />agrees to reimburse the City for any funds advanced by the City to cure a monetary default <br />by Developer upon demand therefore, together with interest thereon at the rate of twelve <br />percent (12%) per annum or the maximum rate permitted by law, whichever rate is lesser, <br />from the date of expenditure until the date of reimbursement. <br />22.4. Remedies Cumulative. No right, power, or remedy given to the City by the <br />terms of these Restrictions is intended to be exclusive of any other right, power, or remedy; <br />and each and every such right, power, or remedy shall be cumulative and in addition to <br />every other right, power, or remedy given to the City by the terms of any such instrument, <br />or by any statute or otherwise against Developer and any other person. Neither the failure <br />nor any delay on the part of the City to exercise any such rights and remedies shall operate <br />as a waiver thereof, nor shall any single or partial exercise by the City of any such right or <br />remedy preclude any other or further exercise of such right or remedy, or any other right <br />or remedy. <br />22.5. Waiver of Terms and Conditions. No waiver of any default or breach by <br />Developer hereunder shall be implied from any omission by the City to take action on <br />account of such default if such default persists or is repeated, and no express waiver shall <br />affect any default other than the default specified in the waiver, and such waiver shall be <br />operative only for the time and to the extent therein stated. Waivers of any covenant, term, <br />or condition contained herein shall not be construed as a waiver of any subsequent breach <br />of the same covenant, term, or condition. The consent or approval by the City to or of any <br />act by Developer requiring further consent or approval shall not be deemed to waive or <br />render unnecessary the consent or approval to or of any subsequent similar act. The <br />exercise of any right, power, or remedy shall in no event constitute a cure or a waiver of <br />any default under these Restrictions or the Loan Documents, nor shall it invalidate any act <br />done pursuant to notice of default, or prejudice the City in the exercise of any right, power, <br />or remedy hereunder or under the Loan Documents, unless in the exercise of any such right, <br />power, or remedy all obligations of Developer to City are paid and discharged in full. <br />19 <br />WISEPlace Permanent Supportive Housing <br />City HOME -ARP Affordability Restrictions on Transfer of Property <br />
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