Agmt25 SEC-Lenders Documents 2 - Loan Agreement

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302.11 Disclosure of Information. All material information concerning the Property known to Borrower, or that should have been known to Borrower in the exercise of reasonable care, has been disclosed to City. There are no facts or information known to Borrower, or that should have been known to Borrower in the exercise of reasonable care, that would make any of the information furnished to City by Borrower inaccurate, incomplete, or misleading in any material respect. 302.12 No Condemnation. No condemnation proceeding or moratorium is pending or threatened against the Property or any portion thereof that would impair the use, occupancy or full operation of the Property in any manner whatsoever. 302.13 Eligible Costs. The proceeds of the Loan shall be used only for the acquisition of the Property. 302.14 FIRPTA. Borrower is not a "Foreign Person" within the meaning of FIRPTA, or is exempt from the provisions of FIRPTA, and Borrower has complied and will comply with all of the requirements under FIRPTA. 400. COVENANTS OF BORROWER 401. Borrower's Financing. In addition to the Loan provided for herein, the Borrower has secured or will secure financing from Commercial Bank of California, a California Corporation, successor -in -interest to Community Bank of the Bay ("Bank") in the amount of One Million and Two Hundred Thousand Dollars ($1,200,000) (the "Senior Loan"), the Housing Endowment and Regional Trust of San Mateo County ("HEART") in the amount of One Million and Nine Hundred Thousand Dollars ($1,900,000) (the "HEART LHTF Loan"), and HEART in the amount of Four Hundred Fifty Thousand Dollars ($450,000) (the "HEART Trust Funds Loan") for the purpose of financing the acquisition of and minor rehabilitation of the Property (the "Additional Borrower Financing"). 402. Reserved 403. Reserved 404. Relocation. Borrower shall have the sole and exclusive responsibility for providing relocation assistance and paying all relocation costs if required to comply with all applicable federal and state laws, rules, and regulations, including but not limited to the California Relocation Assistance Law, Government Code Section 7260, etseq., and the implementing regulations thereto codified in California Code of Regulations, Title 25, Chapter 6, Section 6000, et seq. (collectively, the "Relocation Laws"). Any relocation shall be performed in accordance with a relocation plan approved by the City. Borrower shall indemnify, defend, and hold harmless the City from and against any alleged or actual claims, liabilities, damages, remedies, causes of action, demands, losses, and other liabilities made against them related to (1) the acquisition or the use of the Property by Borrower; (2) compliance with the Relocation Laws; (3) displacement or benefits owned to tenants on the Property including without limitation claims for relocation assistance and inverse condemnation; and (4) any other compensation of whatever kind or nature arising from current or prior occupancy or use of the Property, and/or any move, displacement, relocation therefrom. REV: 05-21-25 LF ATTY/AGR.2025.100/HEART-SV (417 Stambaugh St.) (Page 17 of 85)