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6C (9)
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12-13-11 Packet
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6C (9)
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11/1/2012 11:55:46 AM
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B. The City shall have the right to transfer and assign, in whole or in part, all <br />its rights and obligations hereunder and in or to the Premises. From and after the effective date <br />of any such assignment or transfer, the City shall be released from any further obligations <br />hereunder; and Unity Gardens shall look solely to such successor in interest of the City for the <br />performance of the obligations of the City hereunder. <br />12. Default; Remedies. <br />A. The following events shall be deemed to be events of default by Unity <br />Gardens under this Agreement: <br />1. Unity Gardens shall fail to comply with any provision of this <br />Agreement, all of which terms, provisions, and covenants shall be deemed material, and such <br />failure shall continue for a period of thirty (30) days after written notice of such default is <br />delivered to Unity Gardens; <br />2. Unity Gardens shall become insolvent or unable to pay its debts as <br />they become due, or Unity Gardens notifies the City that it anticipates either condition; <br />3. Unity Gardens takes any action to, or notifies the City that Unity <br />Gardens intends to file a petition under any section or chapter of the United States Bankruptcy <br />Code, as amended from time to time, or under any similar law or statute of the United States or <br />any state thereof; or a petition shall be filed against Unity Gardens under any such statute; or <br />4. A receiver or trustee shall be appointed for Unity Gardens' interest <br />hereunder or for all or a substantial part of the assets of Unity Gardens, and such receiver or <br />trustee is not dismissed within sixty (60) days of the appointment. <br />B. Upon the occurrence of any event or events of default by Unity Gardens, <br />the City shall have the option to pursue any remedies available to it at law or in equity without <br />any additional notices to Unity Gardens. The City's remedies shall include, but not be limited to, <br />the following: (i) termination of this Agreement, in which event Unity Gardens shall <br />immediately surrender the Premises to the City; (ii) entry into or upon the Premises to do <br />whatever Unity Gardens is obligated to do under the terms of this License, in which event Unity <br />Gardens shall reimburse the City, on demand, for any expenses which the City may incur in <br />effecting compliance with Unity Gardens' obligations under this License, but without rendering <br />the City liable for any damages resulting to Unity Gardens or the Garden from such actions; and <br />(iii) pursuit of all other remedies available to the City at law or in equity, including without <br />limitation, injunctive relief of all varieties. <br />13. The City's Termination Right. Notwithstanding anything to the contrary in <br />this Agreement, the City shall have the right to terminate this Agreement and the rights granted <br />hereunder, including, without limitation, the right to extend the term of this Agreement, after <br />delivering to Unity Gardens, written notice of such termination no less than sixty (60) days prior <br />to the effective date thereof, upon the occurrence of any one or more of the following events: <br />-5- <br />
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