80A - JOINT - AMEND NSP - Laserfiche WebLink

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1.2 Singular and Plural Terms. Any defined term used in the plural in this Agreement shall refer to all members of the relevant class and any defined term used in the singular shall refer to any number of the members of the relevant class. 1.3 References and Other Terms. Any reference to this Agreement shall include such document both as originally executed and as it may from time to time be modified. References herein to Articles, Sections and Exhibits shall be construed as references to this Agreement unless a different document is named. References to subparagraphs shall be construed as references to the same Section in which the reference appears. The term "document" is used in its broadest sense and encompasses agreements, certificates, opinions, consents, instruments and other written material of every kind. The terms "including" and "include" mean "including (include) without limitation." 1.4 Exhibits Incorporated. All attachments and exhibits to this Agreement, as now existing and as the same may from time to time be modified, are incorporated herein by this reference. 2. SCOPE OF WORKIPROJECT BUDGET A "Scope of Work" (Exhibit F) and "Schedule of Performance" (Exhibit G) for the Property is attached hereto. Any material change to the Scope of Work and/or Schedule of Performance requested by the Developer shall be subject to the prior written approval of the City Project Manager. The Scope of Work and/or Schedule sets forth the construction work that shall be performed on the Property and timeframes for approvals and such work. A line-item budget for the Project, including a summary statement of sources and uses of funds, is incorporated into Exhibit E (the "Project Budget"). Any material change to the Project Budget requested by Developer shall be subject to the prior written approval of the City Project Manager. 3. CITY LOAN: The City Loan shall be evidenced by the City Promissory Note in the form attached hereto as Exhibit D. The City Loan shall be secured by the City Deed of Trust in the form attached hereto as Exhibit C. The terms and conditions of the City Loan are as set forth in the City Promissory Note which is a residual receipts note. The NSP terms of affordable compliance period is fifty-five (55) years or repayment, commencing on the date that all work is complete and the Property is fully occupied, however the term of affordability for the Project is fifty-five years or repayment of the City Loan, whichever is longer. 3.1 City Loan. The City agrees to lend to Developer, and Developer agrees to borrow from the City, the City Promissory Note Amount, with interest as provided in Section 4(a) of this Agreement, subject to the conditions and restrictions set forth in this Agreement, in the City Promissory Note, the Affordability Restrictions on Transfer of Property, and in the City Deed of Trust. When all conditions to the close of escrow other than payment of the Purchase Price have been satisfied, the City shall deposit the City Loan Amount into escrow. The City shall direct the Escrow Agent to apply the proceeds of the City Loan on behalf of Developer to 8 80A-64