80A - JT PH VISTA DEL RIO HOUSING

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8.1 Event of Default. Failure or delay by either party to perform any term of provision of this Agreement within the time periods provided herein for such performance constitutes a default under the Agreement. If any party defaults in performance of its obligations, covenants or agreements hereunder, the defaulting party shall be entitled to cure the default in accordance with this section. The injured party shall give written notice of default to the party in default, specifying the default complained of by the injure party. Delay in giving such notice shall not constitute a waiver of any default nor shall it change the time of default. The defaulting party must, within thirty (30) days following service of said written notice, commence to cure, correct or remedy such failure or delay and shall complete such cure, correction, or remedy with reasonable diligence. Upon a default by Vista Del Rio which is not cured within thirty (30) days following service of said notice, unless such default cannot reasonably be cured within thirty (30) days, in which case Vista Del Rio shall have such additional time as reasonably necessary to complete such cure but no more than ninety (90) days, the Agency shall have the right to terminate this Agreement by delivery of written notice of termination to Vista Del Rio. 8.2 Institution of Leal Actions. In addition to any other rights or remedies, either party may institute legal action to cure, correct or remedy any default to recover damages for any default, or to obtain any other remedy consistent with the purpose of this Agreement. 8.3 Rights and Remedies are Cumulative. Except with respect to rights and remedies expressly declared to be exclusive in this Agreement, the right and remedies of the parties are cumulative and the exercise by either party of one or more of such 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. 8.4 Damages. In the event that the City is liable for damages to Vista Del Rio, such liability shall not exceed costs incurred by the Vista Del Rio in the performance of this Agreement and shall not extend to compensation for loss of future income, profits or assets; provided, however, Vista Del Rio's only remedy for any breach of this Agreement by the City shall be an action for specific performance of such party's obligations. 8.5 Nonrecourse Liability. Neither Vista Del Rio, nor any partner of Vista Del Rio, shall have any personal liability under this Agreement, or the attached Note(s) and Deed(s) of Trust, and any judgment, decree or order for the payment of money obtained in any action to enforce the obligation of Vista Del Rio to repay the loan evidenced by such documents shall be enforceable against Vista Del Rio only to the extent of Vista Del Rio's interest in the Property. 9. GENERAL PROVISIONS AND WARRANTIES As a material inducement to City to enter into this Agreement, Vista Del Rio represents and warrants as follows: 9.1 Formation, pualification and Compliance Vista Del Rio (a) is a limited partnership, validly existing and in good standing under the laws of the State of California, (b) has all requisite authority to conduct its business and own and lease its properties, and (c) is qualified and in good standing in every jurisdiction in which the nature of its business makes qualification 17 80A-93