FRIENDS OF THE LACY HISTORIC NEIGHBORHOOD-2011

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e. Disclosure Statement substantially in the form of Exhibit "F" attached hereto and fully incorporated by this reference; and f. Notice of Affordability Restrictions, substantially in the form of Exhibit "G" attached hereto and fully incorporated by this reference. The Homebuyer agrees and acknowledges that the Agency Deed of Trust, the Notice of Affordability Restrictions, and the Affordable Housing Resale Restriction 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 encumbrances to the Property. The Homebuyer agrees that this Agreement may also be recorded. 21. Further Assurances. The Homebuyer shall execute any further documents consistent with the terms of this Agreement, including documents in recordable form, as the Agency shall from time to time find necessary or appropriate to effectuate its purposes in entering into this Agreement and making the Homebuyer Assistance Loan. 22. Governing Law. The Homebuyer hereby agrees to comply with all ordinances, rules, and regulations of the City. Nothing in this Agreement is intended to be, nor shall it be deemed to be, a waiver of any City ordinance, rule, or regulation. This Agreement shall be governed by the laws of the State of California. Any legal action brought under this Agreement must be instituted in the Superior Court of the County of Orange, State of California or in the United States District Court, Central District of California, Santa Ana Division. 23. Amendment of Agreement. No modification, rescission, waiver, release or amendment of any provision of this Agreement shall be made except by a written agreement executed by the Homebuyer and the Agency. 24. Agency May Assign. The Agency may, at its option, assign or pledge its right to receive repayment of the Homebuyer Assistance Loan proceeds without obtaining the consent of the Homebuyer. 25. Homebuyer Assignment Prohibited. In no event shall the Homebuyer assign or transfer any portion of this Agreement without the prior express written consent of the Agency, pursuant to the procedures set forth in Section 4. In the event of an Ownership Default and acceleration of the Homebuyer Assistance Loan, the full amount shall be due, including the Contingent Equity Participation Amount. 26. Relationship of Homebuyer and Agency. The relationship of the Homebuyer and the Agency pursuant to this Agreement is that of debtor and creditor and shall not be, or be construed to be, a joint venture, equity venture, partnership, or other relationship. 27. Monitoring. To the extent permitted by law, the Agency and its designated employees and agents shall have the right to enter the Property at all reasonable times without a warrant for the purpose of monitoring the Homebuyer's compliance with this Agreement. Any such entry shall be made only after reasonable notice to the Homebuyer, which shall mean at least forty-eight (48) hours in all non-emergency situations. Upon receipt of such notice, the Homebuyer agrees to consent to entry by the Agency and to cooperate in making the Property ATTACHMENT NO. 11-15 Form of Homebuyer Loan Agreement D O C S O 01400 673 v 14/20027 2-0001