RCHDC definition
Examples of RCHDC in a sentence
City is not required to make any deductions from the compensation payable to RCHDC under the provisions of the MOU, if any; and as an independent entity, RCHDC hereby holds City harmless from any and all claims that may be made against City based upon any contention by any third party that an employer-employees relationship exists by reason of this MOU.
RCHDC understands that, regardless of whether the City leases or sells the property underlying the Project to RCHDC, RCHDC shall be required to record a regulatory agreement to run with the land in a form provided by the City that sets forth the above income and occupancy restrictions and such other matters as deemed necessary by the City to achieve the City’s goals of ensuring the Project's housing units remain affordable to, and occupied by, lower income households for a period of at least 55 years.
All obligations arising prior to the termination of this MOU and all provisions of this MOU allocating liability between City and RCHDC will survive the termination or completion of this MOU.
Notwithstanding the foregoing, RCHDC shall retain sole ownership of any Project drawings prepared by a licensed architect, or any other work product prepared by a third party for the benefit of RCHDC, and paid for, or otherwise funded, by RCHDC.
RCHDC will fund any necessary studies for the Project’s CEQA determination, including any analysis necessary to demonstrate less than significant effects on traffic, noise, air quality, water quality, cultural resources, and/or sensitive species.
A petition is filed for voluntary or involuntary bankruptcy by or on behalf of RCHDC, which petition not dismissed within sixty (60) days.
RCHDC makes a general assignment, or RCHDC’s interests hereunder are assigned involuntarily or by operation of law, for the benefit of creditors.
RCHDC represents that no one who has or will have any financial interest under the MOU is an officer or employee of City.
To the extent applicable, RCHDC understands that work performed in the described manner is accomplished for the benefit of the City and becomes the sole property of the City.
It is understood and agreed by Parties that RCHDC is an independent entity and that no relationship of employer-employee exists between the Parties hereto outside of what is explicitly declared and outlined in this MOU.