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3 - LOAN AGREEMENT FOR AMCAL_2018-01-16
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3 - LOAN AGREEMENT FOR AMCAL_2018-01-16
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8/1/2018 9:24:34 AM
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City Clerk
Agency
Community Development
Item #
3
Date
1/16/2018
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<br />42 <br /> <br />If to Agency: Housing Authority of the City of Santa Ana <br />Executive Director <br />20 Civic Center Plaza (M-26) <br />P.0. Box 1988 <br />Santa Ana, California 92702 <br />Attention: Housing Manager <br /> <br />With a copy to: Office of the City Attorney <br />City of Santa Ana <br />20 Civic Center Plaza, 7th Floor (M-29) <br />Santa Ana, California 92702 <br /> <br />Addresses for notice may be changed as required by written notice to all other <br />parties. All notices personally served shall be effective when actually received. All <br />notices mailed shall be effective three (3) business days after deposit in the U.S. Mail, <br />postage prepaid. The foregoing notwithstanding, the non-receipt of any notice as the <br />result of a change of address of which the sending party was not notified or as the result <br />of a refusal to accept delivery shall be deemed receipt of such notice. <br /> <br />21.3 Survival of Representations and Warranties. All representations and <br />warranties in the Loan Documents shall survive the making of the Loan(s) described <br />herein and have been or will be relied on by Agency notwithstanding any investigation <br />made by either party. <br /> <br />21.4 No Third Parties Benefited. This Agreement is made for the purpose of <br />setting forth rights and obligations of Developer and the Agency, and no other person <br />shall have any rights hereunder or by reason hereof; provided, however, Limited Partner <br />is intended to be a direct beneficiary of the provisions set forth in Sections 21.17, 21.18, <br />and 21.19 hereof, and is entitled to bring an action to enforce the same independent of <br />any rights of Developer. <br /> <br />21.5 Binding Effect; Assignment of Obligations. This Agreement shall bind, <br />and shall inure to the benefit of, Developer and Agency and their respective successors <br />and assigns. Other than as expressly provided to the contrary in this Agreement, <br />Developer shall not assign any of its rights or obligations under any Loan Document <br />without the prior written consent of Agency, which consent may be withheld in Agency's <br />sole and absolute discretion. Any such assignment without such consent shall, at <br />Agency's option, be void. <br /> <br />21.6 Prior Agreements; Amendments; Consents. This Agreement (together <br />with the other Loan Documents) contains the entire agreement between the Agency and <br />Developer with respect to the Loan and the Property, and all prior negotiations, <br />understandings and agreements are superseded by this Agreement and such other Loan <br />Documents. No modification of any Loan Document (including waivers of rights and <br />conditions) shall be effective unless in writing and signed by the party against whom <br />enforcement of such modification is sought, and then only in the specific instance and for <br />the specific purpose given. <br />EXHIBIT 3 <br />3-52
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