1231 Warren - Occupancy, Refinancing and Resale Restriction Agreement

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B. Upon a declaration of Default by the City under this Agreement, the City may exercise any remedies at law or in equity, including without limitation, any or all of the following, none of which shall be an exclusive remedy: (1) Declare all Excess Sales Proceeds and/or Excess Rental Proceeds immediately due and payable without further demand, and invoke the power of sale umder the City Deed of Trust; (2) Apply to a court of competent jurisdiction for such relief at law or in equity as may be appropriate; (3) Take such enforcement actions as is authorized under the City Municipal Code; (4) Declare a Default under the City Deed of Trust and pursue all City remedies under the City Deed of Trust; (5) Enter the Home to correct maintenance failures, and place a lien upon the Home to collect City costs to remedy maintenance failures, pursuant to Section 5B above; and (6) Exercise the City Option upon Default as described in Section 16 below. 14. NOTICE AND CURE Upon Default or a violation of any of the provisions of this Agreement, the City may give written notice to the Owner specifying the nature of the violation. If the violation is not corrected to the satisfaction of the City within a reasonable period of time, not longer than thirty (30) days after the date the notice is mailed, or within such further time as the City determines is necessary to correct the violation, or if the Owner is in default under any other mortgage loan on the Home, the City may declare a default under this Agreement. The City shall notify First Lender at the address provided by the First Lender to the City in the manner set forth in Section 31 of this Agreement, if the City has declared a default under this Agreement or the City Deed of Trust. 15. NOTICE TO CITY OF DEFAULT A request for notice of default and any notice of sale under any deed of trust or mortgage with power of sale encumbering the Home shall be recorded by the City in the Office of the Recorder of the County of San Mateo for the benefit of the City. The City may declare a default under this Agreement upon receipt of any notice given to the City pursuant to Civil Code Section 2924b, and may exercise its rights as provide in Sections 13 and 16. In the event of default and foreclosure under the First Lender Loan or any other mortgage loan on the Home, the City shall have the same right as the Owner to cure defaults and redeem the Home prior to the foreclosure sale. Nothing herein shall be construed as REV: 06-30-22 SK ATTY/AGR.2022.166/Hugo Alberto Zarm Vargas & Andrea Vergara Cardenas (Page 16 of 40)