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01/25/11 Special
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01/25/11 Special
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7/18/2025 10:57:39 AM
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Meetings
Meeting Document Type
Agenda
Document Title
Housing & Redevelopment Authority - Special
Document Date
01/25/2011
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2695614v62 <br />1412/297/10 <br />of the foreclosure proceedsproceedings and the expiration of all applicable redemption <br />periods, cure the default and perform the obligations of the Developer under this <br />Agreement, the City Loan Agreement, and the City Note; . <br />(b) The City or the HRA may terminate <br />this Development Agreement andi <br />(c) The City may terminate the City <br />Loan Agreement; or <br />(c) If the Event of Default is an <br />Event of Default under Section 14.1 (b), (c), (d), (e), (f) <br />or (g), the City may cancel and rescind the TIF Note. <br />ARTICLE XV <br />ADDITIONAL PROVISIONS <br />Section 15.1 Conflicts of Interest. No <br />member of the governing body or other official of the <br />City shall participate in any decision relating to the <br />Agreement which affects his or her personal interests or <br />the interests of any corporation, partnership or <br />association in which he or she is directly or indirectly <br />interested. No member, official or employee of the City <br />shall be personally liable to the City in the event of any <br />default or breach by Developer or successor or on any <br />obligations under the terms of this Agreement. <br />Section 15.2 No Remedy Exclusive. No <br />remedy herein conferred upon or reserved to any party <br />intended to be exclusive of any other available remedy <br />or remedies, but each and every such remedy shall be <br />cumulative and shall be in addition to every other <br />remedy given under this Development Agreement or <br />now or hereafter existing at law or in equity or by statute <br />to the extent provided herein. No delay or omission to <br />exercise any right or power accruing upon any default <br />shall impair any such right or power or shall be <br />construed to be a waiver thereof, but any such right and <br />power may be exercised from time to time and as often <br />as may be deemed expedient. <br />Section 15.3 No Implied Waiver. In the <br />event any agreement contained in this Agreement should <br />be breached by any party and thereafter waived by any <br />other party, such waiver shall be limited to the particular <br />24 <br />
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