My WebLink
|
Help
|
About
|
Sign Out
Browse
Search
Res18 15644
RedwoodCity
>
City Clerk
>
Resolutions
>
City Council
>
Working
>
2010-2019
>
Res18 15644
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
10/11/2019 7:58:05 AM
Creation date
10/11/2019 7:57:54 AM
Metadata
Fields
Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
2/12/2018
Description
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING A LOAN IN THE AMOUNT OF $1, 100, 000 FROM THE AFFORDABLE HOUSING FUND IN CONNECTION WITH THE REFINANCING OF PROPERTY LOCATED AT 3752-3770 ROLISON ROAD FOR AFFORDABLE HOUSING PRESERVATION; APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE RELATED LOAN DOCUMENTS; AND AUTHORIZING THE CITY MANAGER TO TAKE ALL OTHER NECESSARY ACTIONS
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
70
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
evidencing or securing the Owner's obligations in respect of the loan evidenced by the <br />Note (the "Loan Documents") for the repayment of the indebtedness evidenced by this <br />Note (the "Indebtedness") or for the performance of any other obligations of the Owner <br />under the Loan Documents, and the City's only recourse for the satisfaction of the <br />Indebtedness and the performance of such obligations shall be the City's exercise of its <br />rights and remedies with respect to the Property and any other collateral held by the City <br />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 (1) <br />failure of the Owner to pay to the City any rents, insurance proceeds or condemnation <br />proceeds to the extent required by the Deed of Trust following an event or default; or (2) <br />fraud or written material misrepresentation by the Owner or any officer, director, partner, <br />member or employee of the Owner in connection with the application for or creation of <br />the Indebtedness or any request for any action or consent by the City. <br />c. To the extent that the Owner has personal liability under this Section 7, the City may <br />exercise its rights against the Owner personally without regard to whether the City has <br />exercised any rights against the Property or any other security, or pursued any rights <br />against any guarantor, or pursued any other rights available to the City under this Note <br />or any other Loan Document or applicable law. <br />MP Mosaic Garden Associates, L.P. <br />a California limited partnership <br />By: MP Atherton Court, LLC, <br />a California limited liability company, <br />Its general partner <br />By: Mid -Peninsula Seven Trees, Inc. <br />A California nonprofit public benefit <br />corporation <br />Its sole member and manager <br />By: <br />Name: Matthew O. Franklin <br />Title: Assistant Secretary <br />[Signature to be notarized] <br />ATTY/AGR/2018.027/MID PEN MOSIAC GARDENTS (ATHERTON COURT) <br />REV: 02-06-181S <br />Page 30 of 41 <br />
The URL can be used to link to this page
Your browser does not support the video tag.