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Restriction shall be governed by the laws of the State of California. Any legal action brought
<br />under this declaration rust be instituted in the Superior Court of the County of Orange, State of
<br />California, or in the Federal District Court in the Central District, Santa Ana Division.
<br />15, lit deninifica ion. Homebuyer shall pay for, defend, indemnify and hold harmless
<br />Agency and the City and their respective officers, officials, agents, employees, representatives,
<br />and vol unteers from and against any loss, liability, elahn, or j udg gent relating in any manner to
<br />t ebutyer's use of the Property or omebuyer's violation of this Restriction, Homebuyer shall
<br />remain filly obligated for the payment of taxes, liens and assessments related to the Property.
<br />There shall be no reduction in taxes for Hoinebuyer, nor any transfer of responsibility to Agency
<br />to make such payments, by virtue of this Restriction.
<br />16, Insurance. Homebuyer shall maintain, during the terra of this Restriction, an
<br />all -risk pr petty insurance policy insuring the Property in an amount equal to the full
<br />replaeei ent value of the structures on the Property. The policy shall contain a statement of
<br />obligation on behalf of the carrier to notify lie Agency of any material change, cancellation or
<br />tertrrination of coverage at least thirty days in advance of the effective cute of such material
<br />change, cancellation r termination. Honriebuyer shall transmit a copy of the certificate
<br />insurance to Agency within thirty 3 days of the effective cute of this Restriction, and
<br />Homebuyer• shall annually transmit to Agency a copy of the certificate of insurance, signed by an
<br />authorized agent of the insurance carrier setting forth the general provisions of coverage. The
<br />copy of the certificate of insurance shall be transmitted to Agency at the address set forth in
<br />Section 24 hereof. Tire form, content and issuer of any certificate of insurance approved by
<br />Agency,
<br />17, Defaults. Failure or delay by either party to perform any terra or provision of this
<br />Restriction which is not cured within thirty 3 clays after receipt of notice fr rn the other party
<br />constitutes a default under this Restriction; provided, however, er, that if such default is of the
<br />nature requiring more than thirty days to care, the defaulting party shall avoid default
<br />hereunder by commencing to cure within sLieh thirty 3 day period, and thereafter diligently
<br />pursuing such dire to completion, The party who so fails or delays must immediately commence
<br />to eur'e, correct or remedy such failure or delay, and shall complete Stich cure, correction or
<br />remedy with diligence. The injured party shall give written notice of default to the party in
<br />default, specifying the default complained ined f by the injured party. Except as required to protect
<br />against further damages, the injured party may not institute proceedings against the party in
<br />default until thirty 3 clays after giving such notice. Failure or delay in giving such notice shall
<br />not constitute a waiver of any default, nor shall it change the time of default.
<br />18, Nort- Waiver. Failure to exercise any right Agency may have or be entitled to, in
<br />the event of default hereunder, shall not constitute a waiver of such right or any other right in the
<br />event of a subsequent default.
<br />19, Further Assurances. H t ebuyer shall execute any further documents consistent
<br />with the ternis of this Restriction, including documents in recordable form, as Agency shall from
<br />time to time find necessary or appropriate to effectuate its purposes in entering into this
<br />Restriction,
<br />EXHIBIT D-14 TO ATTACHMENT NO. I I
<br />Affordable Housing Resale Restriction
<br />DOCSOM 400673N, 13/200272 -0001
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