RecDoc 2010-110432 - Laserfiche WebLink

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actual payments as set forth in Section 7(c). To the extent such evidence is not timely submitted by Maker to the reasonable satisfaction of City, such costs shall be deemed waived by the Maker and Maker shall not be entitled to have such costs, as applicable, included as part of Maker's equity contribution under Section 7(b) or to receive payment of the sums set forth in Section 7(c) herein. City acknowledges that such evidence may include, by way of example and not limitation, Maker's original closing statement, bank statements, copies of cancelled checks, and invoices from contractors. 8. PAYMENTS. Payments under this Note shall be made payable to the City of Redwood City, 1017 Middlefield Road, P.O. Box 391, Redwood City, California 94063 Attention: Finance Director. The place of payment may be changed from time to time as City may from time to time designate in writing. Payments shall be made in lawful money of the United States of America. 9. COLLECTION. This Note is secured by a Deed of Trust recorded against the Property. Maker agrees to pay all collection and enforcement costs, expenses and attorneys' fees paid or incurred by the City or adjudged by a Court in any litigation or controversy connected with this Note, or security for it, including but not limited to actions for declaratory relief that the City is required to prosecute or defend and actions for relief based on rescission, or actions to cancel this Note that the City is required to defend. 10. SHARED APPRECIATION LOAN. This Note evidences a "Shared Appreciation Loan" as defined in California Civil Code Section 1917.006 and the parties therefore intend this Note to be exempt from any usury limitations. Notwithstanding anything to the contrary contained herein, to the extent the City's Shared Appreciation is deemed interest (other than as permitted under California Civil Code Section 1917.006) and therefore subject to limitation by usury law, that portion of interest in excess of applicable usury limitation shall be forgiven. 11. COSTS. Maker agrees to pay immediately upon demand all costs and expenses of City including reasonable attorneys' fees: a. If after a default hereunder or under the Deed of Trust and the expiration of all notice and cure periods this Note is placed in the hands of an attorney or attorneys for collection, b. If after a default hereunder or under the Deed of Trust and after the expiration of all notice and cure periods City finds it necessary or desirable to secure the services or advice of one or more attorneys with regard to collection of this Note against Maker, any guarantor or any other party liable therefor or to the protection of its rights under this Note or the Deed of Trust, or c. If City seeks to have the Property abandoned by or reclaimed from any estate in bankruptcy, or attempts to have any stay or injunction prohibiting the enforcement or collection of this Note or prohibiting the enforcement of the Deed of Trust or any other agreement evidencing or securing this Note lifted by any bankruptcy or other court. If City shall be made a party to or shall reasonably intervene in any action or proceeding, whether in court or before any governmental entity, affecting the Property or the title thereto or the interest of the City under the Deed of Trust, including, without limitation, any form of condemnation or eminent domain proceeding, City shall be reimbursed by Maker immediately upon demand for all costs, charges and reasonable attorneys' fees incurred by City in any such case, and the same shall be secured by the Deed of Trust as a further charge and lien upon the Property. 12. WAIVERS. Maker hereby waives presentment for payment, demand and protest and notice of protest, and of dishonor and nonpayment of this Note, and expressly consents to any extension of the time of payment hereof or of any installment hereof, and any such extension may be made without notice to Maker and without any way affecting or discharging this liability. Exhibit E 3