My WebLink
|
Help
|
About
|
Sign Out
Browse
Search
Res15 15455
RedwoodCity
>
City Clerk
>
Resolutions
>
City Council
>
Working
>
2010-2019
>
Res15 15455
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/11/2019 7:53:57 AM
Creation date
10/11/2019 7:53:50 AM
Metadata
Fields
Template:
CC Index
CC Index - Document Type
Agenda
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
11/9/2015
Description
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AS HOUSING SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY APPROVING AND AUTHORIZING AN OMNIBUS AMENDMENT TO LOAN MODIFICATION BY AND AMONG THE CITY OF REDWOOD CITY AS HOUSING SUCCES50R AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY, THE SUCCESSOR AGENCY, MEZES COURT ASSOCIATES AND A TO BE FORMED LIMITED PARTNERSHIP
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
53
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
11/09/2015 <br /> 6.3.A. - Page 17 <br /> receiver of its or their assets, or if Maker or any partner of Maker shall have made an assignment <br /> for the benefit of creditors, or if a receiver or trustee is appointed for Maker and such <br /> appointment or such receivership is not terminated within forty-five (45) days. With respect to <br /> any right to cure or cure period provided in this paragraph 8, performance of a cure by any entity <br /> or partner of Maker shall have the same effect as would like performance by Maker. <br /> 9. At all times when Maker is in default hereunder by reasor► of Maker's failure to <br /> pay amounts due under this Note or any amounts due under any loan documents securing this <br /> Note, the interest rate on the sums as to which Maker is in default (including principal, if Payee <br /> has elected to declare it immediately due and payable), shall be the lower of the highest rate then <br /> allowed by law or five percent (5%) over the prime interest rate announced by Wells Fargo <br /> Bank,N.A., as of the date of the default. <br /> 10. Maker and any endorsers hereof and all others who may become liable for all or <br /> any part of this obligation, severally waive presentment for payment, demand and protest and <br /> notice of protest, and of dishonor and nonpayment of this Note, and expressly consent to any <br /> extension of the time of payment hereof or of any installment hereof, to the release of any party <br /> liable for this obligation, and any such extension or release may be made without notice to any of <br /> said parties and without any way affecting or discharging this liability. <br /> 11. Maker agrees to pay immediately upon demand all costs and expenses of Payee <br /> including reasonable attorneys' fees if (i) after default, this Note be placed in the hands of an <br /> attorney or attorneys for collection, (ii) after a default hereunder or under the Deed of Trust, the <br /> DDA, the Affordable Housing Covenant, or under any loan document referred to herein, Payee <br /> finds it necessary or desirable to secure the services or advice of one or more attorneys with <br /> regard to collection of this Note against Maker, any guarantor or any other party liable therefor <br /> or to the protection of its rights under this Note, the Deed of Trust, the DDA, the Affordable <br /> Housing Covenant, or other loan document, or (iii) Payee seeks to have the Property abandoned <br /> by or reclaimed from any estate in bankruptcy, or attempts to have any stay or injunction <br /> prohibiting the enforcement or collection of the Note or prohibiting the enforcement of the Deed <br /> of Trust or any other agreement evidencing or securing this Note lifted by any bankruptcy or <br /> other court. <br /> 12. If Payee shall be made a party to or shall reasonably intervene in any action or <br /> proceeding, whether in court or before any governmental agency, affecting the Property or the <br /> title thereto or the interest of the Payee under the Deed of Trust, including, without limitation, <br /> any form of condemnation or eminent domain proceeding, Payee shall be reimbursed by Maker <br /> immediately upon demand for all costs, charges and attorneys' fees incurred by Payee in any <br /> such case, and the same shall be secured by the Deed of Trust as a further charge and lien upon <br /> the Property. <br /> 13. Any notices provided for in this Note shall be given by mailing such notice by <br /> certified mail, return receipt requested at the address stated in the DDA or at such address as <br /> either party may designate by written notice. Payee shall mail notices to any limited partner of <br /> Maker provided Payee has received written notice of the name and address of such partner(s). � <br /> 14. This Note shall be binding upon Maker, its successors and assigns. <br /> ATTY/AGR/2015/AMENDMENTS/AMEND N0.1—OMNIBUS LOAN DOCUMENTS CITY CENTER PLAZA <br /> REV:10-23-15 VR <br /> OAK#4827-0422-4297 v2 <br /> Yage 9 of 24 <br /> 9 RESO.#15455 <br /> MUFF#455 <br />
The URL can be used to link to this page
Your browser does not support the video tag.