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g. The advance of the proceeds of this Note is subject to the provisions of the <br /> Agreement, and the principal amount to be repaid hereunder shall not exceed the <br /> actual principal amount advanced by the City. <br /> 7. Limits on Personal Liabilitv <br /> a. Except as otherwise provided in this Paragraph 7, the Owner shall have no personal <br /> liability under this Note, the Agreement, the Deed of Trust or any of the other <br /> documents evidencing or securing the Owner's obligations in respect of the loan <br /> evidenced by the Note (the "Loan Documents") for the repayment of the indebtedness <br /> evidenced by this Note (the "Indebtedness") or for the performance of any other <br /> obligations of the Owner under the Loan Documents, and the City's only recourse for <br /> the satisfaction of the Indebtedness and the performance of such obligations shall be <br /> the City's exercise of its rights and remedies with respect to the Property and any other <br /> collateral held by the City as security for the Indebtedness. <br /> b. The Owner shall be personally liable to the City for the repayment of a portion of the <br /> Indebtedness equal to any loss or damage actually suffered by the City as a result of <br /> (1) failure of the Owner to pay to the City any rents, insurance proceeds or <br /> condemnation proceeds to the extent required by the Deed of Trust following an event <br /> or default; or (2) fraud or written material misrepresentation by the Owner or any officer, <br /> director, partner, member or employee of the Participating Owner in connection with the <br /> application for or creation of the Indebtedness or any request for any action or consent <br /> by the City. <br /> c. To the extent that the Owner has personal liability under this Paragraph 7, the City <br /> may exercise its rights against the Owner personally without regard to whether the City <br /> has exercised any rights against the Property or any other security, or pursued any <br /> rights against any guarantor, or pursued any other rights available to the City under this <br /> Note or any other Loan Document or applicable law. <br /> "Owner" <br /> HIP Housing Development Corporation <br /> A California Non-Profit Corporation <br /> By: <br /> Authorized signer <br /> ATTY/AGR/2015.165/HHDC Oxford Apts Rehabilitation <br /> REV:08-13-15 RL <br /> Page 28 of 35 <br />