OPA: Grimshaw House - City of Anaheim

calculated.
505. Effect of Violation of the Terms and Provisions of this Agreement After
Completion of Construction. Agency is deemed the beneficiary of the terms and
provisions of this Agreement and of the covenants running with the land, for and in its
own right and for the purposes of protecting the interests of the community and other
parties, public or private, in whose favor and for whose benefit this Agreement and the
covenants running with the land have been provided, without regard to whether Agency
has been, remains or is an owner of any land or interest therein in the Site or in the
Project. Agency shall have the right, if this Agreement or covenants are breached, to
exercise all rights and remedies, and to maintain any actions or suits at law or in equity or
other proper proceedings to enforce the curing of such breaches to which it or any other
beneficiaries of this Agreement and covenants may be entitled. The covenants contained
in this Agreement shall remain in effect until the issuance of the Release of Construction
Covenants for the completion of the construction of the Developer Improvements, except
for the following:
a. The covenants pertaining to the general use and operation of the Site, as
set forth in Section 501, shall remain in effect until the expiration of the
Affordability Period.
b. The covenants pertaining to maintenance of the Site and all improvements
thereon, as set forth in Section 502, shall remain in effect until the
expiration of the Affordability Period.
c. The covenants against discrimination, as set forth in Section 503, shall
remain in effect in perpetuity.
d. The covenants regarding the provision of Affordable Housing, as set forth
in Section 504, shall remain in effect until the expiration of the
Affordability Period.
600. INSURANCE AND INDEMNIFICATION.
601. Developer’s Insurance. Without limiting Agency’s right to indemnification,
Developer shall secure and maintain insurance coverage as set forth in this Section 601.
601.1 Insurance Coverage Required Prior to Commencing Any Activities
and Until the Recordation of the Release of Memorandum of Agreement.
Prior to commencing any activities under this Agreement and until the recordation
of the Release of Memorandum of Agreement against the last Housing Parcel
comprising the Site, Developer shall secure and maintain the following insurance
coverage:
(A) Workers' Compensation Insurance as required by California
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