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03
City of Pleasanton
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CITY CLERK
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2017
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022117
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03
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3/29/2017 1:00:23 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
2/21/2017
DESTRUCT DATE
15Y
DOCUMENT NO
03
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Successor by written agreement reasonably acceptable to City and the Mortgagee Successor, <br />including, without limitation, the obligation to cure any breach or default on Developer' part that <br />is curable by the payment of money or performance at commercially reasonable cost and within <br />a commercially reasonable period of time after such assumption takes effect. <br />(c) If City receives notice from a Mortgagee requesting a copy of any Notice of <br />Default regarding all or a portion of the Property, then City shall deliver to such Mortgagee, <br />concurrently with service thereof to Developer, any such notice given to Developer with respect <br />to any claim by City that Developer has defaulted, and if City makes a determination of <br />noncompliance under Section 6.3 above, City shall likewise serve notice of such noncompliance <br />on such Mortgagee concurrently with service thereof on Developer. Each Mortgagee shall have <br />the right (but not the obligation) for a period of ninety (90) days after receipt of such notice to <br />cure, or to commence to cure, the alleged default set forth in said notice in accordance with <br />Section 6.3 above. If the default or such noncompliance is of a nature that can only be remedied <br />or cured by such Mortgagee upon obtaining possession, such Mortgagee shall have the right (but <br />not the obligation) to seek to obtain possession with diligence and continuity through a receiver <br />or otherwise, and thereafter to remedy or cure the default or noncompliance within ninety (90) <br />days after obtaining possession, except if any such default or noncompliance cannot, with <br />diligence, be remedied or cured within such ninety (90) day period, then such Mortgagee shall <br />have such additional time as may be reasonably necessary to remedy or cure such default or <br />noncompliance if such Mortgagee commences cure during such ninety (90) day period, and <br />thereafter diligently pursues completion of such cure to the extent possible. Notwithstanding the <br />foregoing, nothing contained in this Agreement shall be deemed to permit or authorize any <br />Mortgagee or Mortgagee Successor to undertake or continue construction or completion of any <br />improvements comprising the Project (beyond the extent necessary to conserve or protect <br />improvements or construction already made) without first having expressly assumed the <br />defaulting Developer's continuing obligations hereunder in the manner specified in Section <br />93(b), above. <br />SECTION 10. GENERAL PROVISIONS. <br />10.1 Independent Contractors. <br />Each Party is an independent contractor and shall be solely responsible for the employment, acts, <br />omissions, control and directing of its employees. All persons employed or utilized by <br />Developer in connection with this Agreement and the Project shall not be considered employees <br />of City in any respect. Except as expressly set forth herein, nothing contained in this Agreement <br />shall authorize or empower any Party to assume or create any obligation whatsoever, express or <br />implied, on behalf of any other Party or to bind any other Party or to make any representation, <br />warranty or commitment on behalf of any other Party. <br />10.2 Invalidity of Agreement and Severability of Provisions. <br />If this Agreement in its entirety is determined by a court of competent jurisdiction to be invalid <br />or unenforceable, this Agreement shall automatically terminate as of the date of final entry of <br />17 <br />
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