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Item 39 - Affordable Housing Project at 2530 & 2534 Westminster Avenue
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05/17/2022 Special and Regular
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Item 39 - Affordable Housing Project at 2530 & 2534 Westminster Avenue
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9/25/2024 9:11:42 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Clerk of the Council
Item #
39
Date
5/17/2022
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<br /> <br />Subordination Agreement (City of Santa Ana) Form 6456 Page 15 <br />Fannie Mae 08-13 © 2013 Fannie Mae <br /> [Westview House] <br />4883-3835-3436v.3 0113877-000026 <br />to Senior Lender. Subordinate Lender agrees to hold in trust for Senior Lender and promptly remit <br />to Senior Lender any payments received by Subordinate Lender after such invalidated, rescinded <br />or returned payment was originally made. <br />15. Notices. <br /> Each notice, request, demand, consent, approval or other communication (hereinafter in this <br />Section referred to collectively as “notices” and referred to singly as a “notice”) which the Senior <br />Lender or the Subordinate Lender is required or permitted to give to the other party pursuant to this <br />Agreement shall be in writing and shall be deemed to have been duly and sufficiently given if: (a) <br />personally delivered with proof of delivery thereof (any notice so delivered shall be deemed to have <br />been received at the time so delivered); or (b) sent by Federal Express (or other similar national <br />overnight courier) designating early morning delivery (any notice so delivered shall be deemed to <br />have been received on the next Business Day following receipt by the courier); or (c) sent by United <br />States registered or certified mail, return receipt requested, postage prepaid, at a post office regularly <br />maintained by the United States Postal Service (any notice so sent shall be deemed to have been <br />received two days after mailing in the United States), addressed to the respective parties as follows: <br />SENIOR LENDER: <br />Umpqua Bank <br />One Capitol Mall, Suite 610 <br />Sacramento, California 95814 <br />Attention: Monica Sharp <br />SUBORDINATE LENDER: <br />City of Santa Ana <br />City Manager <br />20 Civic Center Plaza <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />With a copy to: <br />City of Santa Ana <br />City Attorney <br />20 Civic Center Plaza, 7th Floor (M-29) <br />Santa Ana, California 92702 <br />Either party may, by notice given pursuant to this Section, change the person or persons and/or <br />address or addresses, or designate an additional person or persons or an additional address or <br />addresses for its notices, but notice of a change of address shall only be effective upon receipt. <br />EXHIBIT 6
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