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ATTY/AGR/2017.143/1512 STAFFORD – INTERCREDITOR AGREEMENT <br />REV: 06-21-17 JS <br />Page 4 of 6 <br />County: County of San Mateo <br /> Department of Housing <br /> 264 Harbor Blvd, Bldg. A <br /> Belmont, CA 94002 <br /> Attention: Ken Cole, Director <br /> <br />Borrower: HIP Housing Development Corporation <br /> 800 Claremont St., #210 <br /> San Mateo, CA 94402 <br /> Attention: Administrator <br /> <br /> Such written notices, demands, and communications may be sent in the same manner to <br />such other addresses as the affected Party may from time to time designate as provided in this <br />Section. Receipt shall be deemed to have occurred on the date marked on a written receipt as the <br />date of delivery or refusal of delivery (or attempted delivery if undeliverable). <br />9. Titles. Any titles of the sections or subsections of this Agreement are inserted for <br />convenience of reference only and shall be disregarded in interpreting any part of the <br />Agreement's provisions. <br /> <br />10. California Law. This Agreement shall be interpreted under and pursuant to the <br />laws of the State of California. <br /> <br />11. Severability. If any term of this Agreement is held in a final disposition by a <br />court of competent jurisdiction to be invalid, then the remaining terms shall continue in full force <br />unless the rights and obligations of the Parties have been materially altered by such holding of <br />invalidity. <br /> <br />12. Entire Agreement. This Agreement constitutes the entire understanding and <br />agreement of the Parties with respect to the distribution of proceeds upon foreclosure of or other <br />remedies under the Deeds of Trust. <br /> <br />13. Counterparts. This Agreement may be executed in multiple originals, each of <br />which is deemed to be an original, and may be signed in counterparts. <br /> <br />14. Amendments. This Agreement shall not be modified except by written instrument <br />executed by and between the Parties. The County shall not, without the written consent of the <br />City, agree to an amendment of the County Loan Agreement or the County Note that would <br />reasonably be expected to materially adversely affect the City. The City shall not, without the <br />written consent of the County, agree to an amendment of the City Agreement, or the City Note <br />that would reasonably be expected to materially adversely affect the County. <br /> <br />SIGNATURES ON FOLLOWING PAGE <br />6.3.E. - Page 63