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EXHIBIT 3 <br />City's consent to or approval of any act by Developer requiring further consent or <br />approval shall not be deemed to waive or render unnecessary City's consent to or <br />approval of any subsequent act. The City's acceptance of the late performance of any <br />obligation shall not constitute a waiver by City of the right to require prompt performance <br />of all further obligations; City's acceptance of any performance following the sending or <br />filing of any notice of default shall not constitute a waiver of either party's right to <br />proceed with the exercise of its remedies for any unfulfilled obligations; and City's <br />acceptance of any partial performance shall not constitute a waiver by City of any rights. <br />20.4 Nonrecourse Liability. Neither Developer, nor any partner of Developer, <br />shall have any personal liability under this Agreement, or the attached Note and Deed of <br />Trust, and any judgment, decree or order for the payment of money obtained in any action to <br />enforce the obligation of Developer to repay the loan evidenced by such documents shall be <br />enforceable against Developer only to the extent of Developer's interest in the Property. <br />21. MISCELLANEOUS <br />21.1 Obligations Unconditional and Independent. Notwithstanding the <br />existence at any time of any obligation or liability of City to Developer, or any other <br />claim by developer against City, in connection with the Loan or otherwise, Developer <br />hereby waives any right it might otherwise have (a) to offset any such obligation, liability <br />or claim against Developer's obligations under the Loan Documents, or (b) to claim that <br />the existence of any such outstanding obligation, liability or claim excuses the <br />nonperformance by Developer of any of its obligations under the Loan Documents. <br />21.2 Notices. All notices, demands, approvals and other communications <br />provided for in the Loan Documents shall be in writing and be delivered to the <br />appropriate party by personal service or U.S. mail at its address as follows: <br />If to Developer: CORNERSTONE HOUSING PARTNERS LP <br />c/o Jamboree Housing Corporation <br />17701 Cowan Avenue, Suite 200 <br />Irvine, CA 92614 <br />Attn: President <br />With a copy to <br />Limited Partner: Alliant ALP 2019 <br />c/o Alliant Asset Management Company, LLC <br />21600 Oxnard Street, Suite 1200 <br />Woodland Hills, CA 91367 <br />Attn: General Counsel <br />If to City: City of Santa Ana <br />Executive Director (CDA) <br />20 Civic Center Plaza (M-26) <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />36 <br />80A-72 <br />