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Item 13 - Affordable Housing Project at 1411 N Broadway
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03/07/2023 Special and Regular
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Item 13 - Affordable Housing Project at 1411 N Broadway
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8/11/2023 9:30:06 AM
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City Clerk
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Agenda Packet
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Clerk of the Council
Item #
13
Date
3/7/2023
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<br />EXHIBIT 3 <br />Section 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 City/HOME-ARP Loan or otherwise, <br />Developer hereby waives any right it might otherwise have: (a) to offset any such <br />obligation, liability or claim against Developer's obligations under the Loan Documents; <br />or, (b) to claim that the existence of any such outstanding obligation, liability or claim <br />excuses the nonperformance by Developer of any of its obligations under the Loan <br />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:During Construction: <br />North Broadway Housing Partners LP <br />c/o 17701 Cowan Ave., Suite 200 <br />Irvine, CA 92614 <br />Attention: Chief Executive Officer <br />Following construction: <br />North Broadway Housing Partners LP <br />c/o Jamboree Housing Corporation <br />17701 Cowan Ave., Suite 200 <br />Irvine, CA 92614 <br />Attention: Asset Management <br />With a copy to:Rutan & Tucker, LLP <br />18575 Jamboree Road, 9th Floor <br />Irvine, CA 92612 <br />Attention: Patrick D. McCalla <br />With a copy to: <br />Limited Partner Bank of America, N.A. <br />100 Federal Street <br />MA5-100-04-11 <br />Boston, MA 02110 <br />Attention: Asset Management <br />Facsimile: 617-346-2257 <br />and Banc of America CDC Special Holding Company, Inc. <br />53 <br />WISEPlace Permanent Supportive Housing <br />City HOME-ARP Loan Agreement
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