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Reso 16403
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Reso 16403
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Last modified
5/12/2026 2:27:43 PM
Creation date
5/12/2026 2:27:09 PM
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Regular
Agency Type
City Council
Date
5/11/2026
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<br />ATTY/RESO.0020/CC RESO APPROVING AMENDMENTS TO HPP GUIDELINES – EXHIBIT B <br />REV: 05-04-26 LF <br />Page 38 of 86 <br /> A. If after default and the expiration of all notice and cure periods this Note is placed <br />in the hands of an attorney or attorneys for collection; <br /> B. If after a default hereunder or under the Deed of Trust or Loan Agreement and after <br />the expiration of all notice and cure periods Payee finds it necessary or desirable to secure the <br />services or advice of one or more attorneys with regard to collection of this Note against Maker, <br />any guarantor or any other party liable therefor or to the protection of its rights under this Note, <br />the Deed of Trust, the Loan Agreement or other loan documents executed in connection with the <br />Development; or <br /> C. If Payee seeks to have the Property abandoned by or reclaimed from any estate in <br />bankruptcy, or attempts to have any stay or injunction prohibiting the enforcement or collection of <br />this Note or prohibiting the enforcement of the Deed of Trust or any other agreement evidencing <br />or securing this Note lifted by any bankruptcy or other court. <br /> D. If Payee shall be made a party to or shall reasonably intervene in any action or <br />proceeding, whether in court or before any governmental entity, affecting the Property or the title <br />thereto or the interest of the Payee under the Deed of Trust, including, without limitation, any form <br />of condemnation or eminent domain proceeding, Payee shall be reimbursed by Maker immediately <br />upon demand for all costs, charges and reasonable attorneys” fees incurred by Payee in any such <br />case, and the same shall be secured by the Deed of Trust as a further charge and lien upon the <br />Property. <br />11. Notices. Any notices provided for in this Note shall be given by mailing such notice by <br />certified mail, return receipt requested at the address stated in this Note or at such address as either <br />party may designate by written notice. <br />12. Successors. This Note shall be binding upon Maker, its successors and assigns. <br />13. California Law. This Note shall be construed in accordance with and be governed by the <br />laws of the State of California. <br />14. Severability. If any provision of this Note shall be invalid, illegal or unenforceable, the <br />validity, legality and enforceability of the remaining provisions hereof shall not in any way be <br />affected or impaired thereby. <br />15. Nonrecourse. This Note is a nonrecourse obligation of Maker. Neither Maker nor any of <br />its officers, directors or agents shall have any personal liability for repaying the principal or interest <br />of the Note. In any action brought to enforce the obligations of Maker under this Note, the Deed <br />of Trust or any other instrument or agreement evidencing, securing or relating to the indebtedness <br />evidenced by this Note, the judgment or decree shall be enforceable against Maker solely and only <br />to the extent of its interest in the property described in the Deed of Trust or its interest in any other <br />security loaned by Maker as security for this Note, and Payee shall not seek any deficiency <br />judgment against the Maker. The foregoing provisions shall not prevent recourse to the collateral <br />security for the loan or constitute a waiver, release or discharge of or otherwise affect the obligation <br />to pay, any indebtedness evidenced by the loan documents executed in connection with the <br />Development or limit the right of any person to name the Maker or any other person claiming an <br />interest in or right to such collateral as party defendant in any action or suit for judicial foreclosure
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