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negligent, faulty, inadequate or defective building, or construction or any condition of the <br />Home and Owner agrees that neither Owner, or Owner's heirs,, successors or assigns, shall <br />ever claim, have or, assert any right or action against the City for any loss, damage or other <br />matter arising out of or resulting from any condition of the Home and will hold the City <br />harmless from any liability, loss or damage for these things. <br />C. Indemnity. Owner agrees fo defend, indemnify,. and hold the City harmless <br />from all losses, damages, liabilities, claims, actions, judgments, costs, and reasonable <br />attorneys" fees that the City may incur 'as a direct or: indirect consequence of. (1) Owner's <br />default'. performance, or failure to perform any obligations as and when required by this <br />Agreement or the. Deed of Trust; (2) the failure at any time of any of Owner's <br />representations to'the City to be true and, correct; or (3) Owner's purchase or ownership of <br />the Home. <br />18. RESTRICTIONS ON FORECLOSURE PROCEEDS <br />If a creditor acquires title to the Home through a deed in lieu of foreclosure, a <br />trustee's deed upon sale, or otherwise, the Owner shall not be entitled to the proceeds of <br />sale to the extent that such proceeds otherwise payable to theOwner when, added to the <br />proceeds paid or credited to the creditor exceed theMaximum Allowable Resale Price. The <br />Owner shall instruct the holder of such excess proceeds to pay such proceeds to the City in <br />consideration of the benefits received by the Owner through purchase of the Home under <br />this Agreement, Owner's obligations under this Section 18 shall survive termination of this <br />Agreement, and if this Agreement is terminated after foreclosure or acceptance of a deed or <br />assignment in lieu of foreclosure on the Home as contemplated by Section 22 of this <br />Agreement. <br />19. RESTRICTION ON INSURANCE PROCEEDS <br />If 'the Home is darn dged'or destroyed and the <br />e Owner elects, not to rebuild or repair the <br />Home, the Owner shall pay the City the portion of any insurance proceeds received by the <br />Owner for such ' destruction or damage which is in excess of the Maximum Allowable <br />Resale Price calculated pursuant to Exhibit B of this Agreement. <br />20. TERM OF AGREEMENT <br />All the provisions of this Agreement, including the benefits and burdens, run with the <br />land and :the Home and this Agreement shall bind, and the benefit hereof shall inure to, the <br />Owner, his or her heirs, legal representatives, executors, successors in interest and assigns, <br />and to the City and its successors for the "Term" of this Agreement, which is the earlier. of <br />(i) forty-five (45) years from the date of this Agreement or (ii) the date of Transfer of the <br />Home to, the City or another purchaser in compliance <br />ance with this Agreement (conditioned. <br />upon the execution by the purchaser of a new resale. restriction agreement for the benefit of <br />the City, which shall commence a new forty-five (45) year term). <br />21. SUPERIORITY OF AGREEMENT <br />The Owner covenants that he or she has not, and will not, execute any other <br />REV: 06-30- 22 SK <br />ATrY/AGR.2022.166/Hugo Alberto Zarco Vargas & Andrea Vergara Cardenas (Page 18 of 40) <br />