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attachment or execution, or simiiar process is issued or levied against any property of Developer <br />and is not released, vacated or fully bonded within ninety (90) days after its issue or levy; or <br />Q) (i) any of the Senior Loan documents is revolted or terminated, in whole or <br />in part and for any reason (except due to repayment of such loans), without the City Project <br />Manager's prior written consent, or (ii) Developer defaults or otherwise fails to perform any of <br />its duties or obligations under or in connection with any of the Senior Loan documents, subject <br />to all applicable notice and cure periods, or (iii) any of the Senior Loan documents is amended, <br />supplemented or otherwise modified without City's prior written consent, which consent shall not <br />be unreasonably withheld. Notwithstanding anything to the contrary contained herein, City- <br />hereby agrees that any cure of any default made or tendered by Developer's Limited. Partner <br />shall be deemed to be a cure by Developer and shall be accepted or rejected on the same basis as <br />if made or tendered by Developer. <br />20.2 Remedies Upon Default. Upon the occurrence of any Event of Default, City may, at its <br />option and in its absolute discretion, do any or all of the following: <br />(a) By written notice to Developer, declare the principal of all amounts owing <br />under the Loan Documents, together with all -accrued interest and other amounts owing in <br />connection therewith, to be immediately due and payable, regardless of any _other specified due <br />date; provided that any Event of Default described in Section 20.1 (e) shall automatically, <br />without notice or other action on City's part, cause all such amounts to be immediately due and <br />payable; -. <br />(b) In its own right or by a court-appointed receiver, take possession of the <br />Property, enter into contracts for and otherwise proceed with the completion of the construction <br />by expenditure of its own funds; <br />(c) Exercise any of its rights under the Loan Documents and any rights <br />provided by law, including, without limitation, the right to seek specific performance and the <br />right to foreclose on any security and exercise any other rights with respect to any security, all in <br />such order and manner as City elects in its sole and absolute discretion; and, <br />(d) Suspend or terminate the award of Inclusionary Housing and CDBG funds <br />if Developer fails to comply with any term of such award. <br />20.3 Cumulative Remedies: No Waiver. City's rights and remedies under the Loan <br />Documents are cumulative and in addition to all rights and remedies provided by law. The <br />exercise by City of any right or remedy shall not constitute a cure or waiver of any default, nor <br />invalidate any notice of default or any act done pursuant to any such notice, nor prejudice the <br />City in the exercise of any other right or remedy.. No waiver of any default shall be implied from <br />any omission by City totakeaction on account of such default if such default persists oris <br />repeated. No waiver of any default shall affect any default other than the default expressly <br />waived, and any such waiver shall be operative only for the time and to the extent stated. No <br />waiver of any provision of any Loan Document shall be construed as a waiver of any subsequent <br />breach of the same provision. City's consent to or approval of any act by Developer requiring <br />37 <br />