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institution as a separate or co-fiscal agent. The following provisions of this Section are adopted to these
<br />ends.
<br />The Fiscal Agent is hereby authorized to appoint an additional individual or institution as a
<br />separate or co-~ scal agent hereunder, upon Written Notice to the Governmental Lender, the Funding
<br />Lender and the Borrower, and with the consent of the Governmental Lender and the Funding Lender, but
<br />without the necessity of further authorization or consent, in which event each and every remedy, power,
<br />right, claim, demand, cause of action, immunity, estate, title, interest and lien expressed or intended by
<br />this Funding Loan Agreement, any Borrower Loan Document, the Regulatory Agreement or the Borrower
<br />Loan Agreement to be exercised by or vested in or conveyed to the Fiscal Agent with respect thereto shall
<br />be exercisable by and vest in such separate or co-fiscal agent but only to the extent necessary to exercise
<br />such powers, rights and remedies, and every covenant and obligation necessary to the exercise thereof by
<br />such separate or co-fiscal agent shall run to and be enforceable by either of them.
<br />Should any instrument in writing from the Governmental Lender be required by the separate
<br />fiscal agent or co-fiscal agent appointed by the Fiscal Agent for more fully and certainly vesting in and
<br />confirming to him or it such properties, rights, powers, trusts, duties and obligations, any and all such
<br />instruments in writing shall, on request of the Fiscal Agent, be executed, acknowledged and delivered by
<br />the Governmental Lender. In case any separate fiscal agent or co-aiscal agent, or a successor to either,
<br />shall die, become incapable of acting, resign or be removed, all the estates, properties, rights, powers,
<br />trusts, duties and obligations of such separate fiscal agent or co-fiscal agent, so far as permitted by law,
<br />shall vest in and be exercised by the Fiscal Agent until the appointment of a successor to such separate
<br />fiscal agent or co fiscal agent.
<br />Section 11.14. Loan Servicing. The Governmental Lender and the Fiscal Agent acknowledge
<br />that the Funding Lender shall have the right to appoint a Servicer to service and administer the Funding
<br />Loan and the Borrower Loan as set forth in a Servicing Agreement. The Governmental Lender and the
<br />Fiscal Agent shall not be responsible for monitoring the performance of any Servicer or for any acts or
<br />omissions of such Servicer. The Funding Lender may, in its sole discretion, terminate or replace the
<br />Servicer.
<br />Section 11.15. No Recourse Against Officers or Employees of Fiscal Agent. No recourse
<br />with respect to any claim related to any obligation, duty or agreement contained in this Funding Loan
<br />Agreement or any other Funding Loan Document shall be had against any officer or employee, as such, of
<br />the Fiscal Agent, it being expressly understood that the obligations, duties and agreements of the Fiscal
<br />Agent contained in this Funding Loan Agreement and the other Funding Loan Documents are solely
<br />corporate in nature.
<br />ARTICLE XII
<br />MISCELLANEOUS
<br />Section 1v.1. Notices. A11 notices, consents, approvals and requests required or pe,~,-,fitted
<br />hereunder or under any other Borrower Loan Document or Funding Loan Document (a "notice") shall be
<br />deemed to be given and made when delivered by hand, by recognized overnight delivery service,
<br />confirmed facsimile transmission (provided any telecopy or other electronic transmission received by any
<br />party after 4:00 p.m., local time, as evidenced by the time shown on such transmission, shall be deemed to
<br />have been received the following Business Day), or five (5) calendar days after deposited in the United
<br />States mail, registered or certified, postage prepaid, with return receipt requested, addressed as follows:
<br />If to the Governmental Lender: Housing Authority of the City of Santa Ana
<br />C.1UsersltadlDesktoplSanta Ana HA Washington Place 40
<br />FLA.doc
<br />DRAFT 11/28/12 8:39AM
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