Item 13 - Affordable Housing Project at 1411 N Broadway

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EXHIBIT 3 21.16. Authority to Enter Agreement. Each undersigned represents and warrants that its signature hereinbelow has the power, authority and right to bind their respective parties to each of the terms of this Agreement, and shall indemnify the City fully, including reasonable costs and attorney’s fees, for any injuries or damages to City in the event that such authority or power is not, in fact, held by the signatory for Developer or is withdrawn. 21.17. Force Majeure. Notwithstanding specific provisions of this Agreement, performance hereunder shall not be deemed to be in default where delays or defaults are due to: war; insurrection; strikes; lock-outs; riots; floods; earthquakes; fires; casualties; acts of God or other deities; acts of the public enemy; epidemics; quarantine restrictions; freight embargoes; lack of transportation; governmental restrictions or priority; litigation; unusually severe weather; inability to secure necessary labor, materials or tools; delays of any contractor or supplier; acts of the other party; acts or failure to act of the City or any other public or governmental City or entity (except that any act or failure to act of City shall not excuse performance by City); or any other causes beyond the reasonable control or without the fault of the party claiming an extension of time to perform An extension of time for any such cause shall be for the period of the enforced delay and shall commence to run from the time the party claiming such extension gives notice to the other party, provided notice by the party claiming such extension is given within thirty (30) days after the commencement of the cause. Times of performance under this Agreement may also be extended in writing by the City and the Developer. 21.18. Approvals and Actions. (a)The Executive Director shall have the authority, on behalf of the City to make approvals, issue interpretations, waive provisions, grant extensions of time, approve amendments to this Agreement and changes to the attached exhibits prior to their execution and execute documents necessary to implement this Agreement, as may be required by the Tax Credit Investor or any of Lender, so long as such actions: (1) were authorized by the City Council’s approval of the Loan Documents; (2) comply with the HOME-ARP Program; and (3) do not reduce the length of affordability of the Restricted Units or increase the risk of liability or the costs to be incurred by the City hereunder. The Executive Director reserves the right, in his or her sole and absolute discretion, to submit any requested modification, interpretation, amendment or waiver to the City Council if the Executive Director reasonably determines or reasonably believes that such action could increase the risk, liability or costs to City, or reduce the length of affordability of the Project, or is otherwise required by law. (b)Whenever this Agreement or any other Loan Document references a request that requires the approval or consent of a party, then each party shall act reasonably and in good faith in making any such request and responding to the request, but in no event shall either party be required to agree to terms that are not specified in this Agreement or waive any rights or privileges set forth herein. Whenever this Agreement references a party having “sole and absolute” discretion, then that party may exercise its discretion for any reason or no reason at all as that party may determine in its exclusive and independent judgment. 56 WISEPlace Permanent Supportive Housing City HOME-ARP Loan Agreement