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30. CONTROLLING LAW <br />The terms of this Agreement shall be interpreted under the laws of the State of <br />California. <br />31. NOTICES <br />All notices required herein shall be sent by certified mail, return receipt requested or <br />express delivery service with a delivery receipt and shall be deemed to be effective as of the <br />date received or the date delivery was refused as indicated on the return receipt as follows: <br />To the Owner: <br />To the City: <br />At the address of the Home. <br />City of Redwood City <br />Attn: Housing Division <br />1017 Middlefield Road <br />Redwood City, CA 94063 <br />To the First Lender: <br />Bank of America, N.A. <br />7105 Corporate Dr <br />Plano, TX 75024 <br />The parties may subsequently change addresses by providing written notice of the <br />change in address to the other parties in accordance with this section. <br />32. INTERPRETATION OF AGREEMENT <br />The terms of this Agreement shall be interpreted so as to avoid speculation on the <br />Home and to insure to the extent possible that the mortgage payments remain affordable to <br />low and moderate income households. <br />33. COVENANTS RUNNING WITH THE LAND <br />A. Owner hereby subjects the Home to the covenants and restrictions set forth in <br />this Agreement. Owner hereby declares its express intent that the covenants and restrictions <br />set forth herein shall be deemed covenants running with the land in perpetuity and shall pass <br />to and be binding upon all parties having any interest in the Home throughout the Term of <br />this Agreement set forth in Section 20. Each and every contract, deed, lease or other <br />instrument covering, conveying or otherwise transferring the Home or any interest therein, <br />as the case may be, shall conclusively be held to have been executed, delivered and accepted <br />REV: 06-30-22 SK <br />ATTY/AGR.2022.166/Hugo Alberto Zarco Vargas & Andrea Vergara Cardenas (Page 22 of 40) <br />