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(Page 60 of 61) <br />817;619881 <br />term or provision of this Agreement is determined to be illegal <br />or unenforceable, all of the other terms, provisions, and <br />sections hereof shall nevertheless remain effective and be in <br />force to the fullest extent permitted by law, <br />execute 2Ub2XAnAtj2n. necessaiyGto subordinate <br />this Easement to the lien of any after-recorded Deed of Trust <br />against the Building securing note(s) conforming to the <br />following limits <br />1. Aggregate principal balance not to exceed <br />$5,000,000; <br />2. Effective nominal interest rate not to exceed 13% <br />per annum; and <br />3. Repayment term to be not less than three (3) years. <br />Easement-a=s w *h , The obligations imposed by <br />this Conservation Basement shall be deemed to run as a binding <br />servitude with the land in perpetuity. This instrument shall <br />extend to and be binding upon Grantor, its successors and <br />assigns. <br />£nforeQMent os s. Grantor agree. to <br />expenses, and charges, including reasonable attorneys feessand <br />costs, which may be incurred by Grantee in the enforcement of <br />this Agreement, whether or not any action or proceeding is <br />brought to enforce the provisions hereof. <br />Assignmen This conservation Basement shall survive <br />any termination of Grantee's existence and shall run for the <br />benefit of and may be enforced by Grantee's successors and <br />assigns, or by its ;lesignees duly authorized in a deed of <br />oappaniointmentzati. Any describedsinrSection i170(h)(3) b of a the Internal <br />Revenue Code. The Easement shall not be transferred so long as <br />the Santa Ana Historical Preservation society remains a <br />qualified organization under the laws of the State of <br />California. This Agreement shall be binding upon any successor <br />or assignee of Grantee. <br />Govern+na t-• This Conservation Basement shall be <br />governed by and construed in accordance with the laws of the <br />State of California. <br />Further Assurances. Grantor hereby covenants and <br />agrees to execute and deliver to Grantee from time to time, <br />6 <br /> <br />•-• -••. _-_. NATwMti.1.1AS$OC410H. MOM V-W1 UW, VO 80."wl1,?•V?AOWV H... CA V1 <br />Doa muent:198600619881 Page:6 of 7 <br />65A-67