AgdaPkt 2015-11-09 Closed and Joint SA PFA

Browse Search

ATTY/AGR/2015/AMENDMENTS/AMEND NO.1 – OMNIBUS LOAN DOCUMENTS CITY CENTER PLAZA REV: 10-23-15 VR OAK #4827-0422-4297 v2 Page 9 of 24 receiver of its or their assets, or if Maker or any partner of Maker shall have made an assignment for the benefit of creditors, or if a receiver or trustee is appointed for Maker and such appointment or such receivership is not terminated within forty-five (45) days. With respect to any right to cure or cure period provided in this paragraph 8, performance of a cure by any entity or partner of Maker shall have the same effect as would like performance by Maker. 9. At all times when Maker is in default hereunder by reason of Maker’s failure to pay amounts due under this Note or any amounts due under any loan documents securing this Note, the interest rate on the sums as to which Maker is in default (including principal, if Payee has elected to declare it immediately due and payable), shall be the lower of the highest rate then allowed by law or five percent (5%) over the prime interest rate announced by Wells Fargo Bank, N.A., as of the date of the default. 10. Maker and any endorsers hereof and all others who may become liable for all or any part of this obligation, severally waive presentment for payment, demand and protest and notice of protest, and of dishonor and nonpayment of this Note, and expressly consent to any extension of the time of payment hereof or of any installment hereof, to the release of any party liable for this obligation, and any such extension or release may be made without notice to any of said parties and without any way affecting or discharging this liability. 11. Maker agrees to pay immediately upon demand all costs and expenses of Payee including reasonable attorneys’ fees if (i) after default, this Note be placed in the hands of an attorney or attorneys for collection, (ii) after a default hereunder or under the Deed of Trust, the DDA, the Affordable Housing Covenant, or under any loan document referred to herein, Payee finds it necessary or desirable to secure the services or advice of one or more attorneys with regard to collection of this Note against Maker, any guarantor or any other party liable therefor or to the protection of its rights under this Note, the Deed of Trust, the DDA, the Affordable Housing Covenant, or other loan document, or (iii) Payee seeks to have the Property abandoned by or reclaimed from any estate in bankruptcy, or attempts to have any stay or injunction prohibiting the enforcement or collection of the Note or prohibiting the enforcement of the Deed of Trust or any other agreement evidencing or securing this Note lifted by any bankruptcy or other court. 12. If Payee shall be made a party to or shall reasonably intervene in any action or proceeding, whether in court or before any governmental agency, affecting the Property or the title thereto or the interest of the Payee under the Deed of Trust, including, without limitation, any form of condemnation or eminent domain proceeding, Payee shall be reimbursed by Maker immediately upon demand for all costs, charges and attorneys’ fees incurred by Payee in any such case, and the same shall be secured by the Deed of Trust as a further charge and lien upon the Property. 13. Any notices provided for in this Note shall be given by mailing such notice by certified mail, return receipt requested at the address stated in the DDA or at such address as either party may designate by written notice. Payee shall mail notices to any limited partner of Maker provided Payee has received written notice of the name and address of such partner(s). 14. This Note shall be binding upon Maker, its successors and assigns. 6.3.A. - Page 17