2025-013 - Density Bonus Agreement for Townhome Developent

Home Browse Search

6.2.1 Any individual who sells or rents(including subleasing)an Affordable Unit in violation of the provisions of this Agreement shall be required to forfeit to City all monetary amounts so obtained. 6.2.2 City may institute any appropriate legal actions or proceedings necessary to ensure compliance with this Agreement,including but not limited to: (a) Actions to revoke,deny or suspend any permits for the construction of any Units in the Project, except that such actions may not include the suspension or revocation of any issued permit or license for the construction of any unit or units in the Development that have been constructed and sold or are under construction and under contract for sale; (b) Applicable actions under the Affordable Housing Resale Restrictions,City Promissory Nate, or City Deed of Trust executed by a Homebuyer; (c) Actions for injunctive relief,damages, or other monetary relief; and (d) Civil citations or penalties. 6.3 Ri_tlts and Remedies Cumulative. The rights and remedies of the Parties are cumulative, and the exercise by either Party of one or more of its rights or remedies shall not preclude the exercise by it,at the same or different times,of any other rights or remedies for the same default or any other default by the other Party. 6.4 Waiver of S i i eculative Copse.:uential or Punitive Damages. Notwithstanding anything to the contrary contained in this Agreement,in no event shall either Parry be liable for speculative,consequential,punitive or other indirect damages,and each Party waives any right to collect speculative,consequential,punitive or other indirect damages against the other Party. Developer acknowledges the protections of Civil Code Section 1542 relative to this waiver and release, which section reads as follows: A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE AND THAT, IF KNOWN BY HIM OR HER, WOULD HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR OR RELEASED PARTY. BY INITIALING BELOW,DEVELOPER KNOWINGLY AND VOLUNTARILY WAIVES THE PROVISIONS OF SECTION 1542 SOLELY IN CONNECTION WITH THE WAIVERS AND RELEASES OF THIS SECTION. DEVELOPER'S INITIALS 6.5 Indemnification. In addition to any other indemnity specifically provided in this Agreement, Developer agrees to defend (with counsel of City's choosing and the consent of Developer, which shall not be unreasonably withheld, conditioned or delayed and which may be joint defense counsel upon City's and Developer's consent) indemnify and hold harmless Page 19 55394.00101\43721567.2 Resolution No. 2025-013 Page 25 of 87