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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 53 of 86
<br />judgment.
<br />1.1.14 Condemnation. Any of the following: (a) Any temporary or permanent
<br />taking of (or of the right to use or occupy) all or any part of the Property by condemnation, eminent
<br />domain, or any similar proceeding; or (b) any action by any Government not resulting in an actual
<br />transfer of an interest in (or of the right to use or occupy) all or any part of the Property, but creating
<br />a right to compensation, such as a change in grade of any street upon which the Property abuts.
<br />1.1.15 Control. Possession, directly or indirectly, of the power to direct or
<br />cause the direction of the management and policies of a Person and contractually bind such Person,
<br />whether by ownership of Equity Interests, by contract, or otherwise.
<br />1.1.16 County. The County of San Mateo, California.
<br />1.1.17 Deed of Trust. The Deed of Trust, executed by Owner as Trustor, in
<br />favor of the City as Beneficiary, of even date with this Regulatory Agreement.
<br />1.1.18 Default Interest. Interest at an annual rate equal to the lesser of: (a)
<br />eight percent (8%) per annum; or (b) the Usury Limit.
<br />1.1.19 Development. The improvements that have been constructed on the
<br />Property, which include a _____________ (__) unit multifamily residential housing development
<br />and associated amenities.
<br />1.1.20 Environmental Claim. Any and all claims, demands, damages, losses,
<br />liabilities, obligations, penalties, fines, actions, causes of action, judgments, suits, proceedings,
<br />costs, disbursements and expenses, including Legal Costs and fees and costs of environmental
<br />consultants and other experts, and all foreseeable and unforeseeable damages or costs of any kind
<br />or of any nature whatsoever, directly or indirectly, relating to or arising from any actual or alleged
<br />violation of any Environmental Law or Hazardous Substance Discharge.
<br />1.1.21 Environmental Law. Any Law regarding any of the following at, in,
<br />under, above, or upon the Property: (a) air, environmental, ground water, or soil conditions; or (b)
<br />clean-up, remediation, control, disposal, generation, storage, release, discharge, transportation, use
<br />of, or liability or standards of conduct concerning, Hazardous Substances.
<br />1.1.22 Equity Interest. All or any part of any direct or indirect equity or
<br />ownership interest(s) (whether stock, partnership interest, beneficial interest in a trust, membership
<br />interest in a limited liability company, or other interest of an ownership or equity nature) in any
<br />entity, at any tier of ownership, that directly or indirectly owns or holds any ownership or equity
<br />interest in a Person.
<br />1.1.23 Event of Default. The occurrence of any one or more of the following:
<br />(a) Reporting Default. If the Owner fails to deliver any Annual Report
<br />as and when required in Section 2.8.6 or fails or refuses to allow and cooperate with any City audit
<br />of Property Records in accordance with Section 8, each after fifteen (15) calendar days’ Notice of
<br />such failure;
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