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901.1 Formation, Qualification and Compliance. Developer is a California <br />limited partnership currently comprised of Orange IIousing Development Corporation, a California <br />nonprofit public benefit corporation, and C&C Devolopment Co., LLC, a California limited liability <br />company. Developer is a duly organized California limited partnership formed within and in good <br />standing under the laws of the State of California. Developer has full right, power and ]awful <br />authority to undertake all obligations as provided herein and the execution, perfonnanco and delivery <br />of this Agreement by Developer has been fully authorized by all requisite actions on the part of the <br />Developer. Orange Housing Development Corporation is (a) a non-profit public-benefit corporation, <br />validly existing and in good standing under the laws of the State?. o)' California, (b) has all requisite <br />authority to conduct its business and own and lease its propc)•fies,`(c) has qualified and is in good <br />standing as a Community Housing Development O <br />standing in every jurisdiction in which the nature of <br />where failure to qualify could have a material add <br />performance of its obligations under the Loan llocpin~ <br />applicable to its business and has obtainc"d ;all <br />authorizations fi•orn, and has aocomplished all ~lin, <br />Governmental Authority that arc necessary for the tr`ai7 <br />gamzatio», and (d) is qualified and in good <br />its business-.makes qualification necessary or <br />crse~ effect -.oii<,its financial condition or the <br />:iits. Developel iS~.in compliance with all laws <br />approvals, licenses,,,, exemptions and other <br />s, registrations and yyalifications with, any <br />faction obits business <br />901.2 Execution <br />(a) Devclo~ <br />obligations under the Loan Documeuts. <br />to execute and perform its <br />(~6) ~ `1`he,,execution and delivery by Develbper of each Loan Document, <br />and the pe:•formancc~of;pevelopa"s,obligations ll}0reunder;~lias„¢een authorized by all necessary <br />action and does not and well not: <br />(i) ~ ""require any dbns,~nt or approval not heretofore obtained of any <br />person havmg~;anyinterest in Developer; ~' <br />(ii) violate any provision of, or require any consent or approval <br />not heretofore, obtained under, any articles of incorporation, by-laws or other governing document <br />applicable to Developer; <br />(iii) - result in or require the creation of any lien, claim, charge or <br />other right of others ofany kind i(blher than under the Agency/City Loan Documents) on or with <br />respect to any property iow or )iei•eafter owned or leased by Developer; <br />(iv) to best of its knowledge, violate any provision of any law <br />presently in effect; or <br />(v) constitute a breach or default under, or permit the acceleration <br />of obligations owed raider, any eonU•act, loan agreement, lease or other agreement or document to <br />which Developer is a patty or by which Developer or any of its property is bound. <br />(c) Developer is not in default, in any respect that is materially adverse to <br />the interests of Agency/City under the Loan Documents or that would have any material adverse <br />effect on the financial condition of Developer or the conduct of its business, under any law, contract, <br />29 <br />