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3 - LOAN AGREEMENT FOR AMCAL_2018-01-16 (2)
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3 - LOAN AGREEMENT FOR AMCAL_2018-01-16 (2)
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5/7/2019 3:49:59 PM
Creation date
2/14/2018 3:08:18 PM
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City Clerk
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Community Development
Item #
3
Date
1/16/2018
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EXHIBIT 4 <br />to Senior Lender. Subordinate Lender agrees to hold in trust for Senior Lender and promptly <br />remit to Senior Lender any payments received by Subordinate Lender after such invalidated, <br />rescinded or returned payment was originally made. <br />14. Notices. <br />(a) Process of Serving Notice. <br />All notices under this Agreement shall be: <br />(1) in writing and shall be: <br />(A) delivered, in person; <br />(B) mailed, postage prepaid, either by registered or certified delivery, <br />return receipt requested; <br />(C) sent by overnight courier; or <br />(D) sent by electronic mail with originals to follow by overnight <br />courier; <br />(2) addressed to the intended recipient at the address(es) below the signature <br />block, as applicable; and <br />(3) deemed given on the earlier to occur o£ <br />(A) the date when the notice is received by the addressee; or <br />(B) if the recipient refuses or rejects delivery, the date on which the <br />notice is so refused or rejected, as conclusively established by the records of the <br />United States Postal Service or any express courier service. <br />(b) Change of Address. <br />Any party to Agreement may change the address to which notices intended for it are to be <br />directed by means of notice given to the other parties identified in this Agreement. <br />(c) Receipt of Notices. <br />Senior Lender, Subordinate Lender or Borrower shall not refuse or reject delivery of any <br />notice given in accordance with this Agreement. Each party is required to acknowledge, in <br />writing, the receipt of any notice upon request by the other party. <br />Subordination Agreement (Affordable) <br />(First Street Apartments) <br />3-151 <br />Page 13 <br />
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