Laserfiche WebLink
"4. Subordination. The City's Affordability Restrictions on Transfer of <br />Property shall remain in first position on title and shall not be subordinated <br />except as may be required by other governmental agencies providing <br />financing to the Project." <br />4. Modification of the CitNote. The City accepts the executed original of the <br />Amended and Restated Promissory Note, attached as Exhibit B to this Agreement, as the <br />replacement promissory note for the City Note and hereby cancels the City Note. <br />5. Investor Limited Partner Rights. The City agrees that any cure tendered under the <br />City Loan Documents by Borrower's limited partner shall be accepted or rejected on the same <br />basis as if tendered by Borrower, and it will provide a copy of any notice delivered to Borrower <br />under the City Loan Documents to: <br />NEF Assignment Corporation, and its successors and /or assigns <br />10 South Riverside Plaza <br />Suite 1700 <br />Chicago, IL, 60606 <br />Attn: General Counsel <br />6. Full Force and Effect. Except as set forth in this Agreement, the City Loan <br />Documents remain unmodified and are in full force and effect <br />7. Headings. The headings used in this Agreement are for convenience only and <br />shall be disregarded in interpreting the substantive provisions of this Agreement. <br />Exhibits. All attached exhibits are incorporated herein by reference. <br />9. Successors and Assigns. This Agreement shall be binding on and inure to the <br />benefit of the legal representatives, heirs, successors and assigns of the parties. <br />10. California Law. This Agreement shall be governed by and construed in <br />accordance with the laws of the State of California. <br />11. Invalidity. Any provision of the Agreement which is determined by a court to be <br />invalid or unenforceable shall be deemed severed herefrom, and the remaining provisions shall <br />remain in full force and effect as if the invalid or unenforceable provision had not been a part <br />hereof. <br />12. Counterparts. This Agreement may be signed by the different parties hereto in <br />counterparts, each of which shall be deemed an original but all of which together shall constitute <br />one and the same agreement. <br />SIGNATURES ON FOLLOWING PAGE <br />1076\49\1 843311.2 <br />