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CITIBANK, N (2).A
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Last modified
3/15/2022 12:34:23 PM
Creation date
3/15/2022 12:32:22 PM
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Contracts
Company Name
CITIBANK, N.A
Contract #
A-2019-059-01
Agency
Community Development
Council Approval Date
4/16/2019
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Loan Documents or the Regulatory Agreement, the exercising of any banker's lien or <br />rights of set-off or recoupment, or the exercise of any other remedial action against <br />Borrower, any other party liable for any of the Subordinate Indebtedness or obligated <br />under any of the Subordinate Loan Documents or the Regulatory Agreement, or the <br />Mortgaged Property. <br />"Enforcement Action Notice" means a Notice given from Subordinate Lender to Senior <br />Lender following one or more Subordinate Mortgage Default(s) and the .expiration of any <br />applicable notice or cure periods, setting forth in reasonable detail the Subordinate <br />Mortgage Default(s) and the Enforcement Actions proposed to be taken by Subordinate <br />Lender. <br />"Lien" means any lien, encumbrance, estate or other interest, recorded against or secured <br />by the Mortgaged Property. <br />"Loss Proceeds" means all monies received or to be received under any insurance policy, <br />from any condemning authority, or from any other source, as a result of any <br />Condemnation or Casualty. <br />"Notice" means all notices, requests, demands, consents, approvals or other <br />communication pursuant to this Agreement provided in accordance with the provisions of <br />Section 10. <br />"Regulatory Agreement" shall have the meaning ascribed in the Recitals hereof, <br />recorded or to be recorded in the Recording Office, which shall remain in first position on <br />title to the Land and shall not be part of the Subordinated Loan Documents. <br />"Senior Indebtedness" means the "Indebtedness" as defined in the Senior Loan <br />Agreement. <br />"Senior Lender" means the "Lender" as defined in the Senior Mortgage. When any other <br />person or entity becomes the legal holder of the Senior Note, such other person or entity <br />will automatically become Senior Lender. <br />"Senior Loan Documents" means the "Loan Documents" as defined in the Senior Loan <br />Agreement, as such documents may be amended. <br />"Senior Mortgage Default" means any act, failure to act, event, condition, or occurrence <br />which constitutes,. or which with the giving of Notice or the passage of time, or both, <br />would constitute, an "Event of Default" as defined in the Senior Loan Agreement. <br />"Senior Note" means the promissory note or other evidence of the Senior Indebtedness <br />and any replacement of the Senior Note. <br />Subordination Agreement - Governmental Entity Page 3 <br />City of Santa Ana-Inclusionary Housing <br />La Placita Cinco <br />
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