20A - AA - LOAN AGMT 601 E 20TH ST

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to receiving the Loans, and any other documents or instruments reasonably required by City or a participating entity to complete the transaction contemplated herein: (a) Legal Description (Exhibit "A"); (b) Rehabilitation Plans (Exhibit "B"); (c) Rehabilitation Budget (Exhibit "C"); (d) CDBG Promissory Note (Exhibit "D"); (e) CalHome Promissory Note (Exhibit "E"); (f) CDBG Deed of Trust (Exhibit "F"); (g) CalHome Deed of Trust (Exhibit "G"); (h) Lien List (Exhibit "H") (i) Disclosure Statement (Exhibit "I)); and, 0) Debarment Certificate (Appendix B to Part 24) (Exhibit "J") Borrower agrees and acknowledges that the Deeds of Trust and this Agreement shall be recorded against the Property with the County Recorder of the County of Orange and shall appear of record with respect to and as an encumbrance against the Property. 19. Further Assurances. Borrower shall execute any further documents consistent with the terms of this Agreement, including documents in recordable form, as City may from time to time find necessary or appropriate to effectuate its purposes in entering into this Agreement and making these Loans. 20. Governing Laws. This Agreement shall be governed by the Federal laws as well as the laws of the State of California, with venue in Orange County, California. 21. Severability. In the event that any provision or clause of this Agreement conflicts with applicable law, such conflict will not affect other provisions of this Agreement which can be given effect without; the conflicting provision, and to this end the provisions of the Agreement are declared to be severable. 22. Amendment of A eement. No modification, rescission, waiver, release or amendment of any provision of this Agreement shall be made except by a written agreement executed by Borrower and the Deputy City Manager. 23. Assignment by City Permitted. City may, in its sole and absolute discretion, assign its rights under this Agreement and/or its right to receive repayment of the Loans without obtaining the consent of Borrower. 24. Assignment by Borrower Prohibited. In no event shall Borrower assign or transfer any portion of this Agreement or any rights herein without the prior express written consent of City, which consent City may give or withhold in its sole and absolute discretion. This provision shall not affect or diminish City's right to assign all or any portion of its rights under this Agreement or to the proceeds of the Loans hereunder. Page 12 of 15 20A-16