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6B (11)
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12-13-11 Packet
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6B (11)
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CHA or the Commission may have pursuant to this Agreement, if the other fails or refuses to <br />execute, acknowledge and deliver any instrument or instruments or to take any other action <br />(other ti an an action solely involving the payment of any sum of money) required to effectuate <br />provisions of this Agreement within the time period required by this Agreement or, if no time <br />period therefor is specified in this Agreement, within any reasonable time period specified in any <br />request from the other party, then from and after the date fifteen (15) days after the date of <br />delivery of a final written demand to the other party requesting such execution, acknowledgment <br />and delivery or other action, the requesting party shall be entitled to specific performance, <br />declaratory relief, or such other remedies at law or equity which may be appropriate to effectuate <br />the provisions of this Agreement. The foregoing shall not be construed to give the Commission a <br />right to terminate this Agreement upon the existence of an Event of Default. <br />f.. Commission's Right of Entry. CHA shall permit the Commission and its <br />authoriz .-d representatives, upon reasonable, prior notice, to enter the Commission Property for <br />the purpose of (a) inspecting the same, or (b) performing any work on the Commission Property <br />that may be necessary by reason of CHA's failure to perform any such work or to commence the <br />same within ten (10) days after written notice from the Commission (or without notice in case of <br />emergercy). Nothing herein shall imply any duty on the part of the Commission to do any such <br />work, aid performance thereof by the Commission shall not constitute a waiver of CHA's <br />default in failing to perform the same. The Commission shall not be liable for inconvenience, <br />annoyance, disturbance, loss of business or other damage to CHA or any Permittee by reason of <br />perform ng any such work and the obligations of CHA under this Agreement shall not be <br />affected thereby. <br />0. Option to Purchase. <br />9.01. Terms of Option. The Commission grants to CHA the right and option to <br />purchase the Commission Property on the following terms and conditions: <br />(a) The option shall be exercised only upon CHA's written notice to <br />the Corr mission of the exercise of such option. <br />(b) The purchase price for Commission Property shall be the sum of <br />(i) $1.00, plus (ii) all amounts due, if any, under Section 1.02 hereof prior to and subsequent to <br />the date Tenant exercises its option to purchase and which have not yet been paid to the <br />Commit sion. <br />(c) The closing of the purchase and sale of the Commission Property <br />shall oc ,-ur on a date determined by the agreement of CHA and the Commission, which date <br />shall no: be later than thirty (30) days after the date of CHA's notice to the Commission of the <br />exercise of the option. <br />(d) At closing, the Commission shall deliver to CHA a limited <br />warranty deed and all other instruments and documents as may be necessary or appropriate to <br />convey marketable title to the Commission Property to CHA, subject to (i) the lien of all Real <br />Estate T axes, all general and special assessments and all other governmental dues, charges and <br />7 <br />
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