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ORANGE COUNTY HOUSING FINANCE TRUST
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ORANGE COUNTY HOUSING FINANCE TRUST
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Last modified
11/14/2019 2:24:16 PM
Creation date
10/17/2019 3:02:29 PM
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Contracts
Company Name
ORANGE COUNTY HOUSING FINANCE TRUST
Contract #
A-2019-087
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
6/4/2019
Destruction Year
0
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Section 8. Amendments and Additional Parties. <br />(a) This Agreement may not be amended or modified except by a vote of <br />two-thirds of all of the Parties through formal action approving such an amendment <br />by the Parties' respective governing bodies. <br />(b) No addition to, or alteration of, the terms of this Agreement, whether <br />by written or oral understanding of the parties, their officers, employees or agents, <br />shall be valid or effective unless made in the form of a written amendment which is <br />formally adopted and executed by the Parties in the same manner as this <br />Agreement. <br />Section 9. Non -Liability for Obligations of OCHFT. <br />The debts, liabilities and obligations of OCHFT shall not be the debts, <br />liabilities and obligations of any of the Parties or personal debts, liabilities and <br />obligations of the Directors, officers or employees of OCHFT; provided that a Party <br />may, by an agreement separate from this Agreement, contract for, or assume <br />responsibility for, specific debts, liabilities, or obligations of OCHFT. <br />Section 10. Admission and Withdrawal of Parties. <br />(a) Admission of New Parties. It is recognized that additional parties <br />other than the original parties, may wish to join OCHFT. The County of Orange and <br />any Orange County city may become a party to OCHFT upon such terms and <br />conditions as established by the Board of Directors. An Orange County city shall <br />become a party to OCHFT by the adoption by the city council of this Agreement and <br />the execution of a written addendum thereto agreeing to the terms of this <br />Agreement and agreeing to any additional terms and conditions that may be <br />established by the Board of Directors. <br />(b) Withdrawal from OCHFT. Parties may withdraw from OCHFT at any <br />time upon their governing board's adoption of a resolution that so states the party's <br />intent to leave OCHFT. The withdrawal of any party, either voluntary or <br />involuntary, unless otherwise provided by the Board of Directors, shall be <br />conditioned as follows: <br />(1) In the case of a voluntary withdrawal, written notice shall be <br />given to OCHFT six months prior to the effective date of withdrawal; and <br />(2) Unless otherwise provided by a unanimous vote of the Board of <br />Directors, withdrawal shall result in the forfeiture of that party's rights and claims <br />relating to distribution of property and funds upon termination of OCHFT as set <br />forth in Section 2 above. <br />Section 11. Notices. <br />Notices required or permitted hereunder shall be sufficiently given if made in <br />writing and delivered either personally or by registered or certified mail, postage <br />prepaid, to the persons and entities listed herein at the following addresses, or to <br />such other address as may be designated to OCHFT for formal notice: <br />9 <br />
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