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4918-5821-5178.6 011249.016 <br />CalHFA Standstill Agreement (Density Bonus – Locality) <br />______________– CalHFA No. ______________ <br />12/05/2024.OGC.ogc.HFMF-478357159-19 <br />REV: 05-28-25 LF <br />a restrictive covenant that is filed of record prior to any instrument or agreement granting <br />a security interest in the Development. <br /> <br />3. Amendments. Amendments to this Agreement shall be in writing and signed by all the <br />parties hereto. <br /> <br />4. Governing Law. This Agreement shall be construed in accordance with and be governed <br />by the laws of California. <br /> <br />5. Counterparts. This Agreement may be executed in several counterparts, each of which <br />shall be an original and all of which shall constitute one and the same instrument. <br /> <br />6. Severability. In the event any provision of this Agreement shall be held invalid or <br />unenforceable by any court of competent jurisdiction, it shall not invalidate or render <br />unenforceable any other part of this Agreement. <br /> <br />7. Term. This Agreement shall be effective solely during the period in which the CalHFA <br />Loan is outstanding. Upon payment in full of the CalHFA Loan or upon the termination or <br />cancellation of the CalHFA Loan, this Agreement and the provisions of this Agreement shall <br />automatically terminate without any further action of any party hereto and any successor or assign <br />thereof and this Agreement and the provisions of this Agreement be null and void and of no force <br />or effect. <br /> <br />8. Further Actions. Each party agrees to execute, acknowledge, and deliver such further <br />instruments, and to do all such other acts, as may be necessary or appropriate in order to carry out <br />the purposes and intent of this Agreement. <br /> <br /> <br /> <br />(Signature page follows) <br />ATTY/AGR.2025.127/California Housing Finance Agency (CalHFA) (Page 7 of 11) <br />6.K. - Page 11 of 15 <br />93