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03
City of Pleasanton
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CITY CLERK
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2016
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030116
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
3/1/2016
DESTRUCT DATE
15Y
DOCUMENT NO
03
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(60)days of such notice and thereafter fails to prosecute the curing of such default with due <br /> diligence and in good faith to completion. <br /> 10.3 City's Right to Terminate Agreement. If an Event of Developer Default shall <br /> occur and be continuing beyond any applicable cure period,then City shall, in addition to other <br /> rights available to it under law or this Agreement, have the right to terminate this Agreement. If <br /> City makes such election, City shall give written notice to Developer and to any mortgagee <br /> entitled to such notice specifying the nature of the default and stating that this Agreement shall <br /> expire and terminate on the date specified in such notice, and upon the date specified in the <br /> notice, this Agreement and all rights of Developer under this Agreement, shall expire and <br /> terminate. <br /> 10.4 City's Remedies and Rights Upon an Event of Developer Default. Upon the <br /> occurrence of an Event of Developer Default and the expiration of any applicable cure period, <br /> City shall have all remedies available to it under this Agreement or under law or equity, <br /> including, but not limited to the following, and City may, at its election, without notice to or <br /> demand upon Developer, except for notices or demands required by law or expressly required <br /> pursuant to the City Documents, exercise one or more of the following remedies: <br /> (a) Accelerate and declare the balance of the Note and interest accrued <br /> thereon immediately due and payable; <br /> (b) Seek specific performance to enforce the terms of the City Documents; <br /> (c) Foreclose on the Property pursuant to the Deed of Trust; <br /> (d) Terminate this Agreement pursuant to Section 10.3; and <br /> (e) Pursue any and all other remedies available under this Agreement or under <br /> law or equity to enforce the terms of the City Documents and City's rights thereunder. <br /> 10.5 Developer's Remedies Upon an Event of City Default. Upon the occurrence of an <br /> Event of City Default, in addition to pursuing any other remedy allowed at law or in equity or <br /> otherwise provided in this Agreement, Developer may bring an action for equitable relief seeking <br /> the specific performance of the terms and conditions of this Agreement, and/or enjoining, <br /> abating, or preventing any violation of such terms and conditions,and/or seeking to obtain any <br /> other remedy consistent with the purpose of this Agreement, and may pursue any and all other <br /> remedies available under this Agreement or under law or equity to enforce the terms of the City <br /> Documents and Developer's rights thereunder. <br /> 10.6 Remedies Cumulative;No Consequential Damages. Except as otherwise <br /> expressly stated in this Agreement,the rights and remedies of the Parties are cumulative, and the <br /> exercise by either Party of one or more of such rights or remedies shall not preclude the exercise <br /> by it, at the same or different time,of any other rights or remedies for the same or any other <br /> default by the other Party. Notwithstanding any contrary provision of this Agreement, a Party's <br /> right to recover damages in the event of a default shall be limited to actual damages and shall <br /> exclude consequential damages. <br /> OAK#4822-6539-6013 v3 32 <br /> NA <br />
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