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75A - PH - AMEND DEV AGMT 1901 E FIRST ST
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75A - PH - AMEND DEV AGMT 1901 E FIRST ST
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Last modified
10/17/2013 2:18:41 PM
Creation date
10/17/2013 1:52:06 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Planning & Building
Item #
75A
Date
10/21/2013
Destruction Year
2018
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(or portion thereof) if and to the extent any such Mortgagee has within <br />such thirty (30) day period commenced proceedings to obtain title and/or <br />possession and thereafter the Mortgagee diligently pursues such <br />proceedings to completion and cures or remedies the Breach, provided <br />that, in such event, all noncurable Defaults shall be waived. <br />8.3 Mortgagee Not Obligated Under thethis First-Amended and Restated <br />E)eye Lament Agreement. Unless a Mortgagee expressly assumes <br />Owner's Obligations to the City in accordance with Section 8.2-above, no <br />Mortgagee shall in any way be obligated by the provisions of this First <br />Amended and Restated De?eIQ Agreement, nor shall any <br />covenant or any other provision in this First Amended and Restated <br />Development Agreement be construed so-to obligate such Mortgagee. <br />Nothing in this First Amended and-Restated Development Agreement <br />shall be deemed to construe, permit or authorize any such Mortgagee to <br />devote the Mortgage Parcel to any uses or to construct any improvements <br />thereeaon the MQtg-age-e_Parcel, other than those uses or improvements <br />provided for or authorized by this First_ Amended and Restated <br />Develo ment Agreement. <br />8.4 No Liability. No Mortgagee shall have any personal-liability beyond its <br />interest in the Mortgage Parcel acquired by--it-through enforcement of its <br />Mortgage for the performance or payment of any covenant, liability, <br />warranty or obligation hereunder -and-theunder this First Amende -ram <br />Restated Deyelopment_Agreement. City agrees that it shall look solely <br />to the interests of such Mortgagee in such Mortgage Parcel for payment or <br />discharge of any such covenant, liability, warranty or obligation. <br />8.5 No Amendment or Termination. This First Amended and Restated <br />DeMQp-merM Agreement shall not, without the prior written consent of all <br />Mortgagees holding Mortgages on eashanyt portion of the Property-ta-be <br />affected- hereby, be amended 6o-as-to (a) terminate this First Amended <br />and Restated Developme to Agreement prior to the expiration of the <br />Term here4-(except as expressly provided in -Section-8-4--above-with <br />respell to -such--P-feperty-} j or (b) change any provision of this First <br />Amended and Restated Development Agreement which, by its terms{ is <br />specifically for the benefit of Mortgagees--or--specifieally-confers-Fights--OH <br />Mortgagees. No amendment to this First Amended and Restated <br />Develoam?tr Agreement affecting the Property or any part thereof, made <br />without the consent of any Mortgagee holding a Mortgage on such <br />Property, or any part thereof, shall be binding upon such Mortgagee or its <br />successors in interest should it become a party hereto. <br />64902067M\42-174 { 5" 4883205 -24- <br />75A-80
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