STATION DIST DDA WITH CRA - Laserfiche WebLink

Home Browse Search

be obligated to further perform under thi gre ement with respect to such Ph as and there shall be no further rights or obligations between the parties with respect to u h Phase, except that if the Agency is in default hereunder then the Developer, after delivery of notice of default and expiration of the cure period provided in Section 501 hereof, may pursue any remedies they it has at law or equity against the Agency in accordance i th Section 502 hereof 503.3 Termination by Either Party. In the evert that the Agency is prohibited by law from using monvy from the Housing Fund to fulfill any of its obligations hereunder or the use of the other funding sources by Developer triggers the requirement to gay prevailing wages, glen each party may terminate this Agreement as to any Phase which has not previously been conveyed to the Developer, and neither party shall have any further rights or obligations with respect to the other with respect to the t rrn-i rya to d Phases. 504. Acceptance of Service of Process. In the event that any legal action i s commenced by the Developer against the Agency, service of process on the Agency shall he made by personal service upon the Agency Executive Direr for or in such other manner as may be provided by law. In the event that any legal action is commenced by the Agency against the Developer, service of process on the Developer shall b e made in any manner as may he provided by law. 505. lights and Remedies Are Cumulative. Except as otherwise expressly stated in this Agreement, the rights and remedies of the parties are cumulative, and the exercise h either party of one or more of such rights or remedies shall not preclude the exercise by it, at the same or d iff r n t times, of any o ther ri ghts or remedi es for the s arne defy u l t o r a n y o tb er defaul t b y the other party. 506. Inaction Not a waiver of Default. Any failures or delays by either party in as sertin o any of its rights and remedies as to any Default shall not operate as a waiver of any Default or of any such rights or remedies, or deprive either such pay of its right to institute and maintain any actions or proceedings which it may deem necessary to protect, assert or enforce any such rights or remedies. 507. Force Maj r ; Extension of Ti m s of Performance. In addition to sPeci f e provis ions of thi s Agreement, perform ane e b y ei th r party hereu nder s hall no t be deeme d to b e in Default, and all performance and other dates specified in this Agreement shall be extended, where delays or Defaults are due to: war; insurrection; strifes; lockouts; riots; floods; earthquakes; fire ; casualties; acts of God; acts of the public enemy; epidemics; quarantine res trio tion s ; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; mandamus proeceding ; administrative proceedings; unusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor, subcontractor or supplier; acts or omissions of the other party; acts or failures to act of the City or any other public or governmental agency or entity (other than the acts or failures to act of the City or Agency which shall not excuse performance by the Agency); or any other causes beyond the control or without the fault of the party claiming an extension of time to perform. Notwithstanding anything to the contrary in this Agreement, an extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time of the commencement of the cause, if notice by the part} claiming such extension is sent to the ■1 D OC S 0 V 14 0067 3v 14120027 2 -0001