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RES 2024040
City of Pleasanton
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RES 2024040
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
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32 <br />4859-3312-3005v3 <br />Section 12.2 Rights and Remedies. <br />(a) At any time after the occurrence of an Event of Default hereunder, subject <br />in all respects to the provisions of this Lease with respect to Lessor’s rights to cure defaults by <br />Lessee and with respect to the rights of any Lenders, Lessor may, in addition to any other rights <br />and remedies available at law or in equity, terminate this Lease by giving Lessee written notice <br />thereof (with a copy of such notice to the Lenders), setting forth in such notice an effective date <br />for termination which is not less than thirty (30) days after the date of such notice, in which <br />event this Lease and Lessee’s Estate created hereby and all interest of Lessee and all parties <br />claiming by, through or under Lessee shall automatically terminate upon the effective date for <br />termination as set forth in such notice, with the same force and effect and to the same extent as if <br />the effective date of such notice had been the date originally fixed in Article 2 hereof for the <br />expiration of the Term. In such event, Lessor, its agents or representatives, shall have the right, <br />without further demand or notice, to re-enter and take possession of the Leased Premises <br />(including all buildings and other Improvements comprising any part thereof) at any time from <br />and after the effective termination date without being deemed guilty of any manner of trespass <br />and without prejudice to any remedies for arrears of Rent or existing breaches of covenants; <br />provided that Lessor shall not be entitled to disturb possession of any Tenants or others in <br />possession pursuant to Tenant Leases so long as such Tenant or others are not in default <br />thereunder and attorn to Lessor as their lessor. <br />(b) Upon the exercise of Lessor’s remedies pursuant to this Section 12.2, <br />Lessee shall execute such releases, deeds and other instruments in recordable form as Lessor <br />shall reasonably request in order to accurately set forth of record the then current status of <br />Lessee’s Estate and Lessee’s rights hereunder. <br />(c) If Lessee shall have failed to cure a default by Lessee after expiration of <br />the applicable time for cure of a particular default, Lessor, at its election, but without obligation <br />therefor (i) may seek specific performance of any obligation of Lessee, after which Lessor shall <br />retain, and may exercise and enforce, any and all rights that Lessor may have against Lessee as a <br />result of such default, (ii) from time to time without releasing Lessee in whole or in part from the <br />obligations to be performed by Lessee hereunder, may cure the default at Lessee’s cost, (iii) may <br />terminate this Lease pursuant to Paragraph (a) above, (iv) subject to the rights of Lenders, may <br />have a receiver appointed to take possession of Lessee’s interest in the Leasehold Estate with <br />power in the receiver (1) to administer Lessee’s interest in the Leasehold Estate, (2) to collect all <br />funds available in connection with the operation of the Project, and (3) to perform all other acts <br />consistent with Lessee’s obligations under this Lease, as the court deems proper, and/or (v) may <br />exercise any other remedy given hereunder or now or hereafter existing at law or in equity. Any <br />reasonable cost incurred by Lessor in order to cure such a default by Lessee shall be due <br />immediately from Lessee, together with interest, and may be offset against any amounts due <br />from Lessor to Lessee. <br />(d) Remedies Cumulative. No remedy provided in this Section shall be <br />considered exclusive of any other remedy, but the same shall be cumulative and shall be in <br />addition to every other remedy given hereunder or now or hereafter existing at law or in equity <br />or by statute, and every power and remedy given by this Lease may be exercised from time to
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