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9.A. - Page 37 <br /> remaining balance shall be distributed to Borrower. This provision shall apply to all <br /> Program Loans, including Rent Stabilization Program Loans. <br /> 9. Effective Date. The rights and obligations of the City and Borrower set forth in this Loan <br /> Agreement shall be effective as of the Effective Date. <br /> 10. Notices. Except as otherwise specified in this Loan Agreement, all notices to be sent <br /> pursuant to this Loan Agreement shall be made in writing, and sent to the Parties at their <br /> respective addresses specified below or to such other address as a Party may designate <br /> by written notice delivered to the other Party in accordance with this Section. All such <br /> notices shall be sent by: <br /> 10.1 personal delivery, in which case notice shall be deemed delivered upon receipt; <br /> 10.2 certified or registered mail, return receipt requested, in which case notice shall be <br /> deemed delivered three (3) business days following deposit in the mail; <br /> 10.3 nationally recognized overnight courier, in which case notice shall be deemed <br /> delivered one (1) day after deposit with such courier; or <br /> City: City of Redwood City <br /> 1017 Middlefield Road <br /> Redwood City, CA 94063 <br /> Attn: City Clerk <br /> Borrower: <br /> 11. Remedies Upon Breach. City shall have all of the remedies provided for at law or equity, <br /> including but not limited to all rights and remedies under the Deed of Trust. <br /> 12. General Provisions. <br /> 12.1 Protect the public interest. Borrower shall not allow any employee or official of <br /> City to have any interest, direct or indirect, in the proceeds of the Loan. <br /> 12.2 Fees, commissions, or gifts. Borrower shall pay no fee or commission and make <br /> no gifts to any person, exercising any function or responsibility, directly or <br /> indirectly, in connection with the administration of the Loan. <br /> 12.3 Records. Borrower shall keep such records as may be required by City in <br /> connection with the Loan. <br /> 12.4 Joint and Several Obligations. If this Loan Agreement is executed by more than <br /> one person as Borrower, the obligations of each shall be joint and several. <br /> 12.5 Attorneys' Fees. If either party initiates legal proceedings to interpret or enforce <br /> its rights under this Loan Agreement, the Promissory Note, or the Deed of Trust, <br /> the prevailing party in such action shall be entitled to an award of reasonable <br /> ATTY/RES0.3085/CC RESO RWC FIRE SAFETY FIRST PILOT PROGRAM ATTACHMENT B-LOAN AGREEMENT <br /> REV:05-11-15 VR <br /> Page 8 of 12 <br />