RecDoc2025-028831 - Laserfiche WebLink

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b. City agrees that it shall provide the Bank with a copy of all initial notices of default provided to Borrower under the City Documents, provided, City shall have no liability to the Bank and/or Borrower for its failure to do so (except as may be required by law), nor shall failure to do so constitute grounds for any restraining order, injunction, or other prohibition against or delay in City's exercise of its remedies under the City Documents. City shall not record a Notice of Default related to such initial notice during the period ninety (90) days after the date of such initial notice. During the term of such period the Bank shall have the right, but not the obligation, to cure any nonmonetary default under such initial notice. Notwithstanding the foregoing, if at any time following the date of the initial notice, there shall occur or be continuing a default in the payment of any amount due City under the City Documents, City shall have the right to, and in its sole discretion may, record a Notice of Default and proceed to foreclosure based upon any such nonpayment regardless of any extended cure period with respect to nonmonetary defaults. C. Unless the Bank otherwise agrees, City shall not amend the City Documents to do any of the following: (i) extend the scheduled maturity date of Borrower's obligations to City; (ii) increase the interest rate on Borrower's obligations to City resulting from a modification of the City Documents subsequent to the date hereof; (iii) increase the principal amount of Borrower's obligations to City beyond the original principal amount; (iv) increase or modify payments required under the City Documents, or (v) change the amortization of Borrower's obligations to City by which scheduled payments of principal and interest are increased. d. City further agrees that it shall not, accelerate the City Loan by reason of any foreclosure by the Bank (or acquisition of the Project by the Bank in lieu of any such foreclosure) under the terms of the Bank Documents;rop vided: (i) there shall not occur or be continuing any default in the payment of any amount owed City or any material obligations required to be performed under the City Documents; and" (ii) the Bank shall not unreasonably delay to proceed to conclusion of such foreclosure or acquisition. 2. Representations. The Bank hereby represents and warrants to City that at the time of execution of this RSA, the Borrower is in substantial compliance with its obligations to the Bank under the terms of the Bank Documents. 3. Attorneys Fees & Costs. If any party shall take any action to enforce or otherwise relating to this RSA, the prevailing party or parties shall be entitled to recover reasonable attorney's fees and costs from the other party or parties. 4. Amendments. Amendments to this RSA shall be in writing and signed by all the parties hereto. 5. Governing Law. This RSA shall be construed in accordance with and be governed by the laws of California. 6. Counterparts. This RSA may be executed in several counterparts, each of which shall be an original and all of which shall constitute one and the same instrument. REV: 05-28-25 LF ATTV/A(,R 9n95 11 R/HFART-G\/ /Suhnrriinntinn Anreement - Bank to RWM (Pane 3 of 9)