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RecDoc 2020-115102 Addendum to Loan Agmt
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RecDoc 2020-115102 Addendum to Loan Agmt
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Last modified
12/18/2020 5:29:04 PM
Creation date
12/18/2020 5:20:19 PM
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Recorded Docs
Recorded Docs - Type
Agreement
Subject
Addendum to Loan Agmt re; 1512 Stafford St.
Doc Num
2020-115102
Rec Date
10/21/2020
Address
1512 Stafford St.
Parties
HIP Housing
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(i) Bring an action for equitable relief seeking the specific performance of the terms <br />and conditions of this Agreement, and/or enjoining, abating, or preventing any <br />violation of such terms and conditions, and/or seeking declaratory relief; <br />(ii) Accelerate and declare the balance of the Note and interest accrued thereon <br />immediately due and payable and proceed with foreclosure under the Deed of <br />Trust; <br />(iii) For violations of obligations with respect to rents chargeable to tenants of the <br />Project, impose a charge in an amount equal to the actual amount collected in <br />excess of the permitted rent; or <br />(iv) Pursue any other remedy allowed under the City Documents or at law or in equity. <br />Each of the remedies provided herein is cumulative and not exclusive. The City may <br />exercise from time to time any rights and remedies available to it under applicable law or in <br />equity, in addition to, and not in lieu of, any rights and remedies expressly provided in this <br />Agreement. <br />15. Indemnity. To the greatest extent permitted by law, Owner shall indemnify, defend (with <br />counsel approved by City) and hold the Indemnitees harmless from and against all Claims arising <br />directly or indirectly, in whole or in part, as a result of or in connection with Owner's or Owner's <br />employees', agents', contractors', or subcontractors' (all of the foregoing, collectively, "Owner's <br />Parties") construction, rehabilitation, management, or operation of the Property and the Project, <br />failure to comply with applicable law, including without limitation, state and federal fair housing <br />laws, or failure to perform any obligation as and when required by this Agreement. Owner's <br />indemnification obligations under this Section 15 shall not extend to Claims to the extent <br />resulting from the gross negligence or willful misconduct of Indemnitees. The provisions of this <br />Section 15 shall survive the termination of this Agreement. <br />16. Conflict of Interest-, Anti-Lobb3dng. <br />16.1 Hatch Act. Owner agrees that no funds provided, nor personnel employed <br />pursuant to this Agreement, shall be in any way or to any extent engaged in the conduct of <br />political activities in violation of U.S.C., Title V, Chapter 15. <br />16.2 Conflict of Interest. Owner agrees to comply with 24 C.F.R. 84.42 and 24 CFR <br />570.611. which require, among other things, that except for approved eligible administrative or <br />personnel costs, no person who is an employee, agent, consultant, or officer of Owner may obtain <br />a personal or financial interest or benefit from the activity funded under this Agreement, or have <br />an interest in any contract, subcontract, or agreement with respect thereto, or the proceeds <br />thereunder, either for themselves or those with whom they have family or business ties, during <br />their tenure or for one (1) year thereafter. <br />16.3 Anti -Lobbying Certification. Owner certifies that: <br />REV: 08-26-2020 PR <br />ATTY/AGR.2020.168/HIP Housing Development Corporation (Page 20 of 31) <br />
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