Laserfiche WebLink
7.3.A. - Page 23 <br /> 11.1 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 /> 11.2 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 /> 11.3 Records. Borrower shall keep such records as may be required by City in <br /> connection with the Loan. <br /> 11.4 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 /> 11.5 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 /> attorneys' fees and costs in additions to any other recovery to which it is entitled <br /> under this Loan Agreement, the Promissory Note, or the Deed of Trust. <br /> 11.6 No Joint Venture; No Third -Party Beneficiary. No joint venture or other <br /> partnership exists or is created between the Parties by virtue of this Loan <br /> Agreement. Except as expressly stated herein, this Loan Agreement does not <br /> benefit any third party. <br /> 11.7 Successors; Assignment. This Loan Agreement shall inure to the benefit of and <br /> shall be binding upon the Parties to this Loan Agreement and their respective <br /> heirs, executors, administrators, successors and assigns. City shall have the <br /> right to assign all of its rights and obligations under this Loan Agreement without <br /> the consent of Borrower. <br /> 11.8 Entire Agreement; Amendment. This Loan Agreement, the Promissory Note and <br /> the Deed of Trust constitute the entire agreement of the Parties with respect to <br /> the subject matter hereof. There are no representations, promises, agreements <br /> or other understandings between the Parties relating to the subject matter of this <br /> Loan Agreement that are not expressed or specifically referenced herein. This <br /> Loan Agreement may be modified only by an instrument in writing executed by <br /> the Parties or their respective successors in interest. <br /> 11.9 Survival; No Merger. All of the terms, provisions, representations, warranties and <br /> covenants of the Parties under this Loan Agreement shall survive the close of <br /> escrow of any sale of the Property and shall not be merged in any deed <br /> transferring the Property. <br /> 11.10 Authority and Execution. Each Party represents and warrants that it has full <br /> power and authority to enter into this Loan Agreement and to undertake all of its <br /> obligations hereunder, that each person executing this Loan Agreement on its <br /> behalf is duly and validly authorized to do so. <br /> 11.11 Severability. The invalidity or unenforceability of any term or provision of this <br /> Loan Agreement shall not impair or affect the remainder of this Loan Agreement, <br /> ATTY /RESO.3085 /CC RESO RWC FIRE SAFETY FIRST PILOT PROGRAM ATTACHMENT B- LOAN AGREEMENT <br /> REV: 07 -22 -15 VR <br /> Page 8 of 12 <br /> OAK #4815- 4791 -7093 v1 <br />