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MCL HOLDINGS, INC./MERITAGE HOMES
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MCL HOLDINGS, INC./MERITAGE HOMES
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Last modified
7/3/2025 11:25:29 AM
Creation date
6/10/2025 9:41:03 AM
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Contracts
Company Name
MCL HOLDINGS, INC./MERITAGE HOMES
Contract #
A-2025-050
Agency
Community Development
Council Approval Date
4/15/2025
Expiration Date
4/15/2080
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The rights and remedies of the City hereunder are cumulative, and the City's exercise or failure to <br /> exercise one or more of such rights or remedies shall not preclude City's exercise, at the same time <br /> or different times, of any other right or remedy for the same Default or any other Default. <br /> 10. Maker's Personal Liability. Maker will be fully and personally liable for all loss, cost, <br /> liability, damage, and expense (including without limitation attorneys' fees) suffered or incurred <br /> by City arising from any of the following: <br /> 10.1 Failure to pay taxes, assessments, and any other charges that could result in liens <br /> against any portion of the Property or any other Security. <br /> 10.2 Failure to pay and discharge any mechanics' liens, materialmen's liens, or other <br /> unpermitted liens against any portion of the Property or any other Security. <br /> 10.3 Maker's fraud or intentional misrepresentation with respect to any <br /> representations, warranties, or certifications made in the City Documents or in connection with <br /> Maker's application to participate in the City's affordable housing program. <br /> 10.4 Maker's retention of any rental income or other income arising with respect to <br /> any portion of the Property or any other Security subsequent to the date of City's delivery of any <br /> notice of a.Default, or which, under the terms of the City Documents, should otherwise have <br /> been paid to City. <br /> 10.5 Maker's retention or use of insurance proceeds, condemnation awards, or other <br /> similar funds or payments attributable to the Property or any other Security that pursuant to the <br /> City Documents should have been paid to City or used for another purpose. <br /> 10.6 Waste of the Property, or any other failure to maintain, repair, or restore any <br /> portion of the Property or any other Security in accordance with the requirements of the City <br /> Documents. <br /> 10.7 The removal., demolition, damage or destruction of any portion of the Property or <br /> any other Security that is neither consented to in writing by City nor fiully compensated for by <br /> insurance proceeds or condemnation.awards. <br /> 10.8 The failure of the City Documents to constitute a lien or security interest, as <br /> applicable, on the Property or any other Security, subject only to those exceptions, if any, <br /> permitted by the City Documents or otherwise approved in writing by City. <br /> 10.9 Nothing in this paragraph will affect or limit the rights of City to enforce any of <br /> City's rights or remedies with respect to any portion of the Property or any other Security. <br /> Page 46 <br /> Exhibit C <br /> 5 53 94.00 1 01\43423 340,1 <br />
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