CCP 07-20-1993 - Laserfiche WebLink

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terminate and be of no further force and effect, without the necessity of any act or document . whatsoever; it being expressly agreed and understood that the provisions of this Declaration are intended to survive the expiIation and satisfaction of any security instruments placed of record contemporaneously with this Declaration, if such expiIation and satisfaction occurs prior to the expiIation of the Qualified Project Period. (2) The provisions of Sections 2 through 10 of this Declaration shall not be amended, terminated or deleted prior to the stated term set fonh in Subsection (1) hereof, except (i) by an instrument in writing duly executed by the City and the Declarant or their respective successors or assigns or (ii) in accordance with paragraph (5) of this Section 10. (3) At any "Appropriate Tune" (as hereinafter defmed), the Declarant, or its successors or assigns, shall execute and deliver to the City a Certificate of Amendment, Termination or Deletion of Covenants in the form attached to this Declaration as Exhibit C. If the Declarant's request is made at an "Appropriate Time," the City will execute and deliver to the Declarant the Certificate of Amendment, Temrination or Deletion of Covenants. Any such certification entered into by the Declarant and the City shall be (and it shall be so provided in the certification itself) a conclusive determination of the amendment or satisfaction and termination or deletion of the covenants and restrictions in Sections 2, 3 and 4 hereof with respect to the obligations of the Declarant and its successors and assigns under Sections 2 through 10 of this Declaration, including particularly Sections 2, 3 and 4 hereof, it being the intention of the parties that upon the execution and filing of any amendment, such covenants and restrictions shall thereafter and for all purposes be modified and amended and that upon the granting and filing of any termination or deletion such covenants and restrictions shall thereafter for all purposes be forever terminated or deleted from this Declaration. (4) Prior to such expiIation of the stated term of this Agreement set fonh in Subsection . (1) of this Section 10, it shall be an "Appropriate Time" for the execution and delivery of the Certificate of Amendment, Termination or Deletion of Covenants only if the Declarant delivers to the City with the Declarant's request a written opinion of Bond Counsel addressed to the City and the Declarant to the effect that the amendment or earlier temrination or deletion from this Declaration of such covenants and restrictions will not violate the Act or cause the District to be decertified under Section 469.1761 of the Act before December 31, 2009. Such opinion of Bond Counsel shall clearly state whether it addresses amendment, termination or deletion of the covenants and restrictions of Sections 2, 3 and 4 hereof and shall specify the applicable paragraph of Exhibit C to be included in the Certificate of Amendment, Termination or Deletion of Covenants, Upon receipt of such request of the Declarant and accompanying opinion, the City shall deliver the Certificate of Amendment, Termination or Deletion of Covenants to the Declarant. (5) The provisions of Sections 2 through 10 of this Declaration shall be deemed to be no longer in effect, without the necessity of any act or document whatsoever, in the event of noncompliance with the provisions of Section 142(d) of the Code and Treasury Regulations promulgated or proposed thereunder if such noncompliance is caused by involuntary loss caused by fire, seizure, requisition, foreclosure, transfer of title by the Declarant in lieu of foreclosure, change in federal law or an action of a federal agency after the date of issue of this Declaration (which change in law or action prevents the City from enforcing the requirements of Sections 2 through 10 of this Declaration), or,condemnation or similar events, To evidence the facts stated in this paragraph (5) and not as a condition to the termination of such covenants, the City, upon request of the Declarant, accompanied by a certificate evidencing the factual basis for the request, shall execute and deliver a Certificate of Termination of Covenants in substantially the form of Exhibit C hereto, which for this purpose need not be executed by the Declarant and may be . -6- I ----------- - - ----------.. -