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Agmt21 ROEM Project at 353 Main
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Agmt21 ROEM Project at 353 Main
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Last modified
12/3/2021 11:37:01 AM
Creation date
12/3/2021 11:32:49 AM
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Template:
Agreement
Contractor Name
353 Main St.
PROJECT NAME
Loan Agreement
RMP File Number
304
Date
7/13/2021
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"Governmental Approvals" (including but not limited to all permits and licenses), plans, <br />specifications, drawings, franchises, utility agreements and similar materials not yet obtained, <br />and any Other documents and information related to the Development, reports, Plans and <br />Specifications, and general documents associated with the Development. For purposes of <br />clarifying the foregoing, "Collateral Documents" shall expressly exclude any documents that, <br />pursuant to applicable law, the Developer does not have the right to pledge and assign as <br />contemplated by this Agreement. <br />(p) "Concept Drawings" means the basic site plan, elevations and sections of <br />the Improvements. <br />(q) "Construction Plans" means all construction documentation, developed <br />pursuant to Section 2.3 of this Agreement, upon which the Developer, and the Developer's <br />several contractors, shall rely in building each and every part of the Improvements (including <br />landscaping, parking, and common areas) and shall include, but not necessarily be limited to, the <br />Concept Drawings, the Schematic Design Drawings and Final Construction Drawings, the final <br />architectural drawings, landscaping plans and specifications, final elevations, building plans and <br />specifications (also known as "working drawings") and a time schedule for construction. <br />(r) "Conventional Loans" means a construction loan and/or permanent loans <br />from private lending institutions and public lenders, approved by the City in the Financing Plan. <br />subdivision. (s) "County" means the County of San Mateo, California, a political <br />(t) "Deed of Trust" means the deed of trust that will encumber the <br />Developer's fee interest in the Property to secure repayment of the Promissory Note, <br />substantially in the form attached hereto as Exhibit G. <br />(u) "Developer" means 353 Main Street Apartments, LP, a California limited <br />partnership and its successors and assigns as permitted by this Agreement. <br />(v) "Developer Event of Default" has the meaning set forth in Section 7.4(a). <br />(w) "Developer Fee" means that amount of developer fee in the amount and <br />for the purposes set forth in Section 3.8. <br />(x) "Development" means the Property and the Improvements. <br />(y) "Development Schedule" means the summary schedule of actions to be <br />taken by the Parties pursuant to this Agreement to achieve disposition of the fee interest in the <br />Property to the Developer and the development of the Improvements, subject to the provisions of <br />Section 9.3 of this Agreement. The Development Schedule is attached to this Agreement as <br />Exhibit B. <br />(z) "Effective Date" means the date this Agreement is entered into by the <br />Parties as first written above. <br />REV: 06-17-2020 PR <br />1199109\2727850.8 <br />ATTY/AGR.2020.100/353 Main Street Apartments LP (Page 11 of 143) <br />
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