Laserfiche WebLink
or any other provision in this Development Agreement be construed to <br />obligate such Mortgagee, Nothing in this Development Agreement shall be <br />deemed to construe, permit or authorize any such Mortgagee to devote <br />the Mortgage Parcel to any uses or to construct any improvements on the <br />Mortgagee Parcel, other than those uses or improvements provided for or <br />authorized by this Development Agreement. <br />8.4 No Liability. No Mortgagee shall have any liability beyond its interest in <br />the Mortgage Parcel acquired through enforcement of its Mortgage for the <br />performance or payment of any covenant, liability, warranty or obligation <br />under this Development Agreement. City agrees that it shall look solely to <br />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 Development Agreement shall <br />not, without the prior written consent of all Mortgagees holding Mortgages <br />on any portion of the Property, be amended to (a) terminate this <br />Development Agreement prior to the expiration of the Term (except as <br />expressly provided above) or (b) change any provision of this <br />Development Agreement which, by its terms, is specifically for the benefit <br />of Mortgagees. No amendment to this Development Agreement affecting <br />the Property or any part thereof, made without the consent of any <br />Mortgagee holding a Mortgage on such Property, or any part thereof, shall <br />be binding upon such Mortgagee or its successors in interest should it <br />become a party hereto. <br />8.6 Condemnation or insurance Proceeds. Nothing in this Development <br />Agreement shall impair the rights of any Mortgagee, pursuant to its <br />Mortgage, to receive insurance and /or condemnation proceeds which are <br />otherwise payable to Owner granting such Mortgage. <br />8,7 Title by Foreclosure. Except as otherwise set forth herein, all of the <br />provisions contained in this Development Agreement applicable to any of <br />the Mortgage Parcel shall be binding on and for the benefit of any person <br />who acquires title to the property, or any part thereof, by foreclosure under <br />a Mortgage or transfer by deed in lieu. <br />8.8 Delegation to Mortgagee, Owner may delegate and /or assign <br />irrevocably to any Mortgagee the non - exclusive authority to exercise any <br />or all of Owner's obligations and /or rights hereunder with respect to the <br />Mortgage Parcel, but no such delegation shall be binding upon the City <br />unless and until either Owner or such Mortgagee shall give to the City a <br />true and correct copy of a written instrument effecting such delegation. <br />Such delegation of authority may be effected by the terms of the Mortgage <br />itself, in which case service upon the other Party of an executed <br />counterpart or conformed copy of said Mortgage, together with written <br />notice specifying the provisions therein which delegates such authority to <br />75A -83 <br />