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RES 03043
City of Pleasanton
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RES 03043
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5/13/2003 6:22:08 PM
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5/13/2003 6:15:12 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
5/6/2003
DOCUMENT NO
RES 03043
DOCUMENT NAME
BRIDGE HOUSING
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ATTACHMENT A <br />The appointment of a receiver or other custodian to take possession <br />of substantially all of the Lessee's assets or of this leasehold which <br />appointment is not withdrawn or dismissed within sixty (60) days: <br />or <br /> <br />(6) <br /> <br />The Lessee becomes insolvent or declares it is unwilling to pay its <br />debts as they become due: or any court enters a decree or order <br />directing the winding up or liquidation of the Lessee or of <br />substantially all of its assets: or the Lessee takes any action toward <br />the dissolution or winding up of its affairs or the cessation or <br />suspension of its use of the Project: or <br /> <br />(7) <br /> <br />Attachment, execution or other judicial seizure of substantially all <br />of the Lessee's assets or this leasehold, which is not dismissed, <br />bonded, or stayed within sixty (60) days.: or <br /> <br />(8) Default under any of the Loan Documents. <br /> <br /> (b) Whenever any default shall have occurred and be continuing and upon <br />expiration of any applicable cure periods provided in this Lease, and subject to the cure rights of <br />Lenders of the Lessee set forth in this Lease, the Lessor may take whatever action at law or in <br />equity as may appear reasonably necessary to enforce performance or observance of any <br />obligations, agreements, or covenants of the Lessee under this Lease, including without <br />limitation, termination of this Lease. In the event of such default, the Lessor's remedies shall be <br />cumulative, and no remedy expressly provided for in this Section shall be deemed to exclude any <br />other remedy allowed by law. <br /> <br />9.2 Remecty nFMnter/nl Flrench hy I eqsor <br /> <br /> If the Lessor defaults under the Lease, the Lessee shall give the Lessor and the Lenders <br />written notice requiting that the default is to be remedied by the Lessor. If the default is not cured <br />within the time set forth by the Lessee (which shall be a reasonable time for curing the default and <br />shall in any event be at least ninety (90) days), the Lessee, the Lenders may take any action as may <br />be necessary to protect their respective interests. Such action, in the event that the Lessor shall fail <br />to perform any of its obligations under this Lease and such failure shall continue after the expiration <br />of the cure period specified in this Section, shall include the tight of the Lessee, the Lenders to cure <br />such default and receive any expenditure with interest thereon (at the reference rate then in effect at <br />Wells Fargo Bank, N.A. or any successor institution) from the Lessor within thirty (30) days after <br />se0ding to the Lessor a statement for such expenditure and interest. <br /> <br />9.3 Termination <br /> <br /> 28 <br />144\105\153233.13 <br /> <br /> <br />
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