SU0006226 - Laserfiche WebLink

Home Browse Search

L L Developer retains its respective legal or equitable interest in the Property and remains fully L responsible hereunder. No Mortgagee pursuant to this Section 1.6.5 shall be entitled to receive any notice under this Agreement unless Developer or such Mortgagee has submitted a written request to County for such notice to be given, setting forth the names and addresses of the Persons to receive notices on behalf of such Mortgagee and the kinds of notices to be sent to such Persons specifying the applicable sections of this Agreement providing for such notices. The failure of a Mortgagee(other than a Recognized Assignee)to receive any notice from County, or the failure of County to send such notice, shall not affect the application of the terms ` of this Agreement to the Property or the rights of the County hereunder. L 1.6.5.A. Foreclosure under a Mortgage, deed in lieu of foreclosure or L sale following foreclosure or deed in lieu of foreclosure is permitted without the consent of the County; provided, however, that unless and until the holder of any Mortgage or any successor thereto following foreclosure shall comply with and satisfy the requirements of Sections I.6.4.1.6.4.A. and 1.6.4.13. hereof and be approved by County as a Recognized Assignee L following its acquisition of all or a portion of the Property, such holder of any Mortgage or any successor thereto following foreclosure shall not be entitled to the benefits of this Agreement and shall not have any standing or rights to enforce the provisions of this Agreement, including but ` not limited to Sections 2., 3. and 5. hereof, but shall otherwise be bound by all of the terms and conditions of this Agreement, including the terms and conditions of the Existing Approvals which pertain to the Property or such portion thereof in which it holds an interest. Any such ` holder or successor who comes into possession of the Property, or any portion thereof, pursuant to foreclosure of the Mortgage or a deed in lieu of foreclosure,or sale following foreclosure or L deed in lieu of foreclosure, shall take the Property, or such portion thereof, subject to any claims for payments or charges against the Property or such portion thereof, which accrue under this Agreement or the Existing Approvals prior to the time such holder or successor comes into possession of the Property or such portion thereof. Nothing in this Agreement shall be deemed or ` construed to permit or authorize any such holder or successor to devote the Property, or any portion thereof, to any uses, or to construct any improvements thereon, other than those uses and improvements provided for or authorized by the Existing Approvals and this Agreement, subject to all of the terms and conditions of this Agreement. `' 1.6.6. The County shall administer the provisions of this Section 1.6 through its Community Development Director or his or her designee. The Developer shall notify the Community Development Director in writing pursuant to this Section 1.6. of its request for 6' County consent to any sale, assignment or transfer under this Section 1.6 requiring such consent, together with supporting information in satisfaction of the conditions set forth in subsection 1.6.4., above, together with a clear statement contained in a separate paragraph in bold capitalized letters that if the County does not act upon such request within thirty(30) days,the request shall be deemed approved pursuant to the provisions of this Section 1.6.6. The Developer shall promptly furnish such additional information as the Community Development Director or 6. any designee may reasonably request and the County shall proceed to consider and act upon the LW02-SF:FPDW1481145.2 -21- L