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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 54 of 86
<br />(b) Bankruptcy or Insolvency. Owner admits in writing that it is unable
<br />to pay its debts as they become due or becomes subject to any Bankruptcy Proceeding (except an
<br />involuntary Bankruptcy Proceeding dismissed within one hundred twenty (120) days after
<br />commencement), or a custodian or trustee is appointed to take possession of, or an attachment,
<br />execution or other judicial seizure is made with respect to, substantially all of Owner’s assets or
<br />Owner’s interest in this Regulatory Agreement (unless such appointment, attachment, execution,
<br />or other seizure was involuntary, and is contested with diligence and continuity and vacated and
<br />discharged within one hundred twenty (120) days);
<br />(c) Transfer. The occurrence of a Transfer, whether voluntarily or
<br />involuntarily or by operation of Law, in violation of the terms and conditions of this Regulatory
<br />Agreement or the Loan Agreement;
<br />(d) Other Default. Any default, other than those specifically addressed
<br />in Section 1.1.1(a), Section 1.1.23(b) or Section 1.1.23(c), that is not cured within thirty (30) days
<br />after Notice to the Owner describing the default in reasonable detail, or, in the case of a default
<br />that cannot with reasonable diligence be cured within thirty (30) days after the effective date of
<br />such Notice, if the Owner does not do all of the following: (a) within thirty (30) days after Notice
<br />of such default, advise the City of the intention of the Owner to take all reasonable steps to cure
<br />such default; (b) duly commence such cure within such period, and then diligently prosecute such
<br />cure to completion; and (c) complete such cure within a reasonable time under the circumstances;
<br />or
<br />1.1.24 Existing Tenants. Defined in Section 2.3.
<br />1.1.25 Extremely Low Income Households. Extremely Low Income
<br />Households shall have the same meaning as that term is defined in [INSERT DEFINITION
<br />BASED ON APPLICABLE FUNDING SOURCE(S) REQUIREMENTS].
<br />1.1.26 Government. Each and every governmental agency, City, bureau,
<br />department, quasi-governmental body, or other entity or instrumentality having or claiming
<br />jurisdiction over the Property or the Development (or any activity this Regulatory Agreement
<br />requires or allows), including the government of the United States of America, the State and the
<br />County governments and their subdivisions and municipalities, including the City, the City, and
<br />all other applicable governmental agencies, authorities, and subdivisions thereof. “Government”
<br />shall also include any planning commission, board of standards and appeals, department of
<br />buildings, city council, zoning board of appeals, design review board or committee or similar body
<br />having or claiming jurisdiction over the Property or any activities on or at the Property.
<br />1.1.27 Hazardous Substance. Any flammable substances, explosives,
<br />radioactive materials, asbestos, asbestos-containing materials, polychlorinated biphenyls,
<br />chemicals known to cause cancer or reproductive toxicity, pollutants, contaminants, hazardous
<br />wastes, medical wastes, toxic substances or related materials, explosives, petroleum, petroleum
<br />products, and any “hazardous” or “toxic” material, substance or waste that is defined by those or
<br />similar terms or is regulated as such under any Law, including any material, substance or waste
<br />that is: (a) defined as a “hazardous substance” under Section 311 of the Water Pollution Control
<br />Act (33 U.S.C. § 1317), as amended; (b) substances designated as “hazardous substances” pursuant
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