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<br />ATTY/RESO.0053/CC RESO AMENDING AFFORDABLE HOUSING PRESERVATION PROGRAM – EXHIBIT B <br />REV: 08-19-24 LF <br />Page 23 of 86 <br />Agreement. Each and every covenant, agreement, condition, restriction and reservation of this <br />Regulatory Agreement shall continue in full force and effect with respect to any other then-existing <br />or subsequent Default of such condition, covenant, agreement, restriction or reservation of this <br />Regulatory Agreement. <br />5.1.4 Damages. The City may recover from the Owner all damages the City <br />incurs by reason of the Owner’s Default and reimbursement of the City’s reasonable out of pocket <br />costs, including Legal Costs and bank fees for dishonored checks. The City may recover such <br />damages at any time after the Owner’s Default, including after the expiration of the Term. <br />Notwithstanding any Law to the contrary, the City need not commence separate actions to enforce <br />the Owner’s obligations for each amount or payment not paid, or each month’s accrual of damages <br />and costs for the Owner’s Default, but may bring and prosecute a single combined action for all <br />such damages and costs. <br />5.1.5 Injunction of Breaches. Whether or not an Event of Default has <br />occurred, the City may obtain a court order enjoining the Owner from continuing any Default or <br />from committing any threatened Default. The Owner specifically and expressly acknowledges <br />that damages would not constitute an adequate remedy to the City for any Default. <br />5.2 Specific Enforcement. The Owner agrees that specific enforcement of the Owner’s <br />non-monetary obligations under this Regulatory Agreement is one of the reasons that the City <br />agreed to restructure the Loan and that, if the Owner breaches any such obligation, potential <br />monetary damages to the City, as well as to prospective Qualifying Households, would be difficult, <br />if not impossible, to evaluate and quantify. Therefore, in addition to any other relief to which the <br />City may be entitled as a consequence of the Owner’s default under this Regulatory Agreement, <br />the Owner agrees to the imposition of the remedy of specific performance against the Owner under <br />this Regulatory Agreement. <br />5.3 Enforcement. The City shall have the power to enforce this Regulatory Agreement <br />and no other Person shall have any right or power to enforce any provision of this Regulatory <br />Agreement on behalf of the City or to compel the City to enforce any provision of this Regulatory <br />Agreement against the Owner, the Development, the Property or any Affordable Unit. Further, <br />[For RDA funds only, add: pursuant to Health and Safety Code Section 33334.3(f)(7),] this <br />Regulatory Agreement shall be enforceable by the City, any resident of an Affordable Unit, any <br />resident association with members who reside in Affordable Units, former residents of Affordable <br />Units who last resided in any such Affordable Unit, applicants for occupancy of Affordable Units <br />and persons on an affordable housing waiting list, subject to the specific requirements of such law. <br />5.4 Cure by Limited Partner. Any limited partner or managing member of Owner shall <br />have the opportunity, but not the obligation, to effect a cure on behalf of Owner within the cure <br />periods afforded to Owner as set forth herein, and City shall accept such cure as if it had been <br />made by Owner. Notwithstanding the foregoing sentence, failure to provide such notice to such <br />limited partner or managing member shall not result in any liability to the City nor permit Owner <br />additional time to cure a default hereunder. <br />5.5 Termination by Agreement. Any provision of this Regulatory Agreement may be <br />terminated upon written agreement between the City and the Owner, if the City in its sole and <br />6.M. - Page 96 of 110 <br />552