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RES 2024040
City of Pleasanton
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RES 2024040
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6/18/2024 4:24:22 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
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<br />4879-3324-5885v3 <br />23 <br />faith, but in no event later than ninety (90) days from receipt of the notice of default. <br /> 9.2 Limited Partner’s Right to Cure. Owner’s limited partners shall have the right to <br />cure any default of Owner hereunder upon the same terms and conditions afforded to Owner; <br />provided however, if the default is of such nature that the limited partners reasonably determine <br />that it is necessary to replace the general partner of Owner in order to cure such default, then the <br />cure period shall be extended by an additional sixty (60) days after the removal and replacement <br />of such general partner, provided that the limited partners have promptly commenced and <br />diligently proceeded with all requisite actions to effect such removal and replacement. City shall <br />provide a copy of any notice of default hereunder to the limited partners at the address set forth <br />in Section 11.3 hereof, or to such other address provided to the City in writing, concurrently with <br />the provision of such notice to Owner. <br />9.3 Remedies. Upon the occurrence of an Event of Default and its continuation <br />beyond any applicable cure period, City may proceed with any of the following remedies: <br /> <br />(i) Bring an action for equitable relief seeking the specific performance of the terms <br />and conditions of this Agreement, and/or enjoining, abating, or preventing any <br />violation of such terms and conditions, and/or seeking declaratory relief; <br />(ii) Accelerate and declare the balance of the Note and interest accrued thereon <br />immediately due and payable and proceed with foreclosure under the Deed of <br />Trust; <br />(iii) For violations of obligations with respect to rents for Restricted Units, impose a <br />charge in an amount equal to the actual amount collected in excess of the <br />Affordable Rent; or <br />(iv) Pursue any other remedy allowed under the City Documents or at law or in <br />equity. <br /> <br />Each of the remedies provided herein is cumulative and not exclusive. The City may <br />exercise from time to time any rights and remedies available to it under applicable law or in <br />equity, in addition to, and not in lieu of, any rights and remedies expressly provided in this <br />Agreement. <br /> <br />10. Indemnity. To the greatest extent permitted by law, Owner shall indemnify, defend (with <br />counsel approved by City) and hold the Indemnitees harmless from and against all Claims arising <br />directly or indirectly, in whole or in part, as a result of or in connection with Owner’s or Owner’s <br />employees’, agents’, contractors’, or subcontractors’ (all of the foregoing, collectively, <br />“Owner’s Parties”) rehabilitation, construction, management, or operation of the Property and <br />the Project, failure to comply with applicable law, including without limitation, State and federal <br />fair housing laws, or any failure to perform any obligation as and when required by this <br />Agreement. Owner’s indemnification obligations set forth in this Section: (i) shall survive the <br />expiration or earlier termination of this Agreement; (ii) shall apply whether or not any insurance <br />policies shall have been determined to be applicable to any Claim, (iii) shall not extend to Claims
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