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55A - AGMT LEGACY APARTMENTS
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55A - AGMT LEGACY APARTMENTS
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12/10/2020 5:00:39 PM
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12/10/2020 4:55:21 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
55A
Date
12/15/2020
Destruction Year
2025
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such default persists or is repeated. No waiver of any default shall affect any default other <br />than the default expressly waived, and any such waiver shall be operative only for the time <br />and to the extent stated. No waiver of any provision of any Loan Document shall be <br />construed as a waiver of any subsequent breach of the same provision. City's consent to or <br />approval of any act by Developer requiring further consent or approval shall not be deemed <br />to waive or render unnecessary City's consent to or approval of any subsequent act. The <br />City's acceptance of the late performance of any obligation shall not constitute a waiver by <br />City of the right to require prompt performance of all further obligations; City's acceptance <br />of any performance following the sending or filing of any notice of default shall not <br />constitute a waiver of either party's right to proceed with the exercise of its remedies for <br />any unfulfilled obligations; and City's acceptance of any partial performance shall not <br />constitute a waiver by City of any rights. <br />21. MISCELLANEOUS <br />21.1 Obligations Unconditional and Independent. Notwithstanding the <br />existence at any time of any obligation or liability of City to Developer, or any other claim <br />by developer against City, in connection with the Loan or otherwise, Developer hereby <br />waives any right it might otherwise have: (a) to offset any such obligation, liability or claim <br />against Developer's obligations under the Loan Documents; or, (b) to claim that the <br />existence of any such outstanding obligation, liability or claim excuses the nonperformance <br />by Developer of any of its obligations under the Loan Documents. <br />21.2 Notices. All notices, demands, approvals and other communications <br />provided for in the Loan Documents shall be in writing and be delivered to the appropriate <br />party by personal service or U.S. mail at its address as follows: <br />If to Developer: Legacy Square, L.P. <br />c/o National Community Renaissance of California <br />9421 Haven Avenue <br />Rancho Cucamonga, CA <br />Attention: Legal Counsel <br />With a copy to: Klein Hornig LLP <br />1325 G Street NW, Suite 700 <br />Washington, DC 20005 <br />Attention: Chris Hornig <br />With a copy to: Mercy House CHDO, Inc. <br />807 North Garfield <br />Santa Ana, CA 92701 <br />Attn: Larry Haynes <br />With a copy to: Banc of America CDC Special Holding Company, Inc. <br />MA1-225-02-02 <br />225 Franklin Street <br />Boston, MA 02110 <br />55A-53 <br />
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