AGENDA PACKET_2021-11-02 - Laserfiche WebLink

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EXHIBIT 2 coverage. The copy of the certificate of insurance and loss payee endorsement shall be delivered to the City as follows: City of Santa Ana, Community Development Agency 20 Civic Center Plaza, M26 P.O. Box 1988 Santa Ana, Ca 92702 Attention: Housing Manager Any certificate of insurance required by this section must be a in a form, content and with an insurance company that is acceptable to the City in its sole discretion. 14.Non-Waiver.Failure to exercise or delay in exercising any right the City may have or be entitled to, in the event of default hereunder, shall not constitute a waiver of such right or any other right in the event of a subsequent default. 15.Documents.Borrower has reviewed and agrees to execute the following documents in substantially the form as attached to this Agreement prior to receiving the City Loan, and any other documents or instruments reasonably required by City or a participating entity to complete the transaction contemplated herein: (a)Promissory Note (Exhibit C); (b)City Deed of Trust (Exhibit B); (c)AffordabilityCovenants (Exhibit D); and (d)Disclosure Statement and Notice of Rescission (Exhibit E) Borrower agrees and acknowledges that this Agreement, the City Deed of Trust and the Affordability Covenants all be recorded against the Property with the County Recorder of the County of Orange and shall appear of record with respect to and as an encumbrance against the Property. 16.Further Assurances.Borrower shall execute any further documents consistent with the terms of this Agreement, including documents in recordable form, as the City may from time to time find necessary or appropriate to effectuate its purposes in entering into this Agreement and making the City Loan. 17. Governing Law.This Agreement shall be governed by the laws of the State of California, with venue in Orange County. 18. Severability. In the event that any provision or clause of this Agreement conflicts with applicable law, such conflict will not affect other provisions of this Agreement whichcan be given effect without the conflicting provision, and to this end the provisions of the Agreement are declared to be severable. 8