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Item 12 - Agreements for Habitat for Humanity of Orange County Affordable Ownership Units
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Item 12 - Agreements for Habitat for Humanity of Orange County Affordable Ownership Units
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7/10/2024 5:18:56 PM
Creation date
7/10/2024 10:34:24 AM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
12
Date
7/16/2024
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EXHIBIT 2 <br />EXHIBIT D <br />shall pay to the prevailing party all court costs and all attorneys' fees incurred in enforcing this <br />Note. <br />16. Amendments. This Note may not be modified or amended except by an <br />instrument in writing expressing such intention executed by the parties sought to be bound <br />thereby, which writing must be so firmly attached to this Note so as to become a permanent part <br />thereof. <br />17. Maker's Waivers. The Maker waives any rights to require the Holder to: <br />(a) demand payment of amounts due (known as "presentment"), (b) give notice that amounts due <br />have not been paid (known as "notice of dishonor"), and (c) obtain an official certification of <br />nonpayment (known as "protest"). <br />18. Notice. Any notice that must be given to the Maker under this Note shall be <br />given by personal delivery or by mailing it by certified mail addressed to the Maker at the <br />Property address above or such other address, as Maker shall direct from time to time in writing. <br />Failure or delay in giving any notice required hereunder shall not constitute a waiver of any <br />default or late payment, nor shall it change the time for any default or payment. Any notice to <br />the Holder shall be given by certified mail at the address stated above. <br />19. Successors Bound. This Note shall be binding upon the parties hereto and their <br />respective heirs, successors and assigns. <br />20. Effect of Foreclosure. If title to the Property is transferred by foreclosure or <br />acceptance of a deed in lieu of foreclosure, or assignment of the First Lien to the Secretary of the <br />Department of Housing and Urban Development, the Agreement, the Affordable Housing Resale <br />Restriction executed pursuant to the Agreement, Notice of Affordability Restrictions and the <br />Authority Deed of trust shall be automatically terminated and shall have no further effect as to <br />the Property or any transferee thereafter. <br />IN WITNESS WHEREOF, Maker has executed this Note as of the date set forth below. <br />MAKER and HOMEBUYER: <br />LM <br />LM <br />4 <br />Exhibit D <br />
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