CC PACKET 07121988 - Laserfiche WebLink

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efforts to resell the Redevelopment Property as soon and in • such manner as the HRA shall find feasible and consistent with the objectives of applicable law and the Redevelopment Plan to a qualified and responsible party or parties (as determined by the HRA in its sole discretion) who will assume the obligation of making or completing the Minimum Improvements or such other improvements in their stead as shall be satisfactory to the HRA. Upon such resale, the proceeds shall be applied to ( i) reimburse the HRA on its own behalf or on behalf of the City, for all costs and expenses incurred by the HRA or the City, including but not limited to costs, in connection with the recapture, management , and resale of the Redevelopment Property or part thereof; (ii) all taxes, assessments , and water and sewer charges with respect to the Redevelopment Property or part thereof (and if the Redevelopment Property is exempt from taxation or assessment or utility charges during the period of ownership by the HRA, an amount equal to such taxes , assessments, or charges (as determined by the City assessing official) as would have been payable if the _ _ ___r........t r,..,ray t2. WCLC iivi, bu exempt) ; (iii) any payments made or necessary to be made to discharge any encumbrances or liens existing on the Redevelopment Property at the time of revesting of title in the HRA or to discharge or prevent from attaching or being made any subsequent encumbrances or liens due to obligations, defaults or acts of Redeveloper, its successors or assigns ; (iv) any expenditures made or • obligations incurred with respect to the making or completion of the Minimum Improvements ; and (v) any amounts otherwise owing the HRA by Redeveloper or its successors or assigns . Any balance remaining after such reimbursements shall be retained by the HRA as its property. Section 9 . 5 . No Remedy Exclusive. No remedy herein conferred upon or reserved to the HRA is intended to be exclusive of any other available remedy or remedies , but each and every such remedy shall be cumulative and shall be in addition to every other remedy given under this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission to exercise any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver thereof, but any such right and power may be exercised from time to time and as often as may be deemed expedient . In order to entitle the HRA or Redeveloper to exercise any remedy reserved to it , it shall not be necessary to give notice, other than such notice as may be required under this Agreement . Section 9 . 6 . Waivers . All waivers by the HRA, shall be in writing . If any provision of this Agreement is breached by either party and thereafter waived by the other party, such • -23-