Agmt25 CDBG Loan Agreement - Moreno

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(ii) Specific Performance. The Lender has the right to mandamus or other suit, action or proceeding at law or in equity to require Borrower to perform its obligations and covenants under the Loan Documents or to enjoin acts on things that may be unlawful or in violation of the provisions of the Loan Documents. (iii) Right to Cure at Borrower's Expense, The Lender has the right (but not the obligation) to cure any monetary default by Borrower under a loan other than the Loan. Upon demand therefor, Borrower shall reimburse the Lender for any funds advanced by the Lender to cure such monetary default by Borrower, together with interest thereon from the date of expenditure until the date of reimbursement at the Default Rate (as defined in the Promissory Note). (b) Borrower may contest in good faith any claim, demand, levy, or assessment the assertion of which would constitute a Default. Any such contest is to be prosecuted diligently and in a manner that is not prejudicial to the Lender or the rights of the Lender. (c) No right, power, or remedy given to the Lender by the terms of this Agreement, or the other Loan Documents is intended to be exclusive of any other right, power, or remedy; and each and every such right, power, or remedy is cumulative and in addition to every other right, power, or remedy given to the Lender by the terms of any such instrument, or by any statute or otherwise against Borrower and any other person. Neither the failure nor any delay on the part of the Lender to exercise any such rights and remedies will operate as a waiver thereof, nor does any single or partial exercise by the Lender of any such right or remedy preclude any other or further exercise of such right or remedy, or any other right or remedy. Section 14. Subordination and Refinancing of Senior Loan. The Lender shall agree to subordinate its Deed of Trust or lien to the Borrower's existing first mortgage loan and may agree to subordinate its Deed of Trust to any refinancing of the first mortgage loan, provided the Lender has approved such refinancing and Borrower is not receiving any cash proceeds as a result of such refinancing and the total indebtedness on the Property does not exceed the then current market value of the Property. Borrower must submit to the Lender a request for approval of any refinancing. Upon receipt of such request, the Lender shall consider the terms of the refinancing and if the refinancing complies with the terms of the Loan Documents and the Lender approves the form of subordination agreement provided by the new lender, the Lender will approve the refinancing. Additionally, as a condition of such approval, the Borrower shall pay to Lender a "subordination loan processing fee" as established and amended from time to time by Lender's City Council, to pay the Lender's reasonable costs of reviewing Borrower's request for refinancing and subordinating its Deed of Trust, if approved. Section 15. Owner Occupancy Certification. Borrower shall annually during the Term certify to the Lender that Borrower continues to occupy the Property as Borrower's principal residence, including providing any documentation requested by Lender necessary to evidence Borrower's principal residence. REV: 10-02-25 LF ATTY/AGR.2025.255/Habitat for Humanity (142 Center (Moreno) CDBG Loan Agreement) (Page 8 of 21)