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<br />Attention: Alec G. Nedelman, Esq. <br />Loan No. 950114974 <br /> <br />with a copy to: <br /> <br />City of Santa Ana <br />20 Civic Center Plaza, M-29 <br />Santa Ana, CA 92701 <br />Attention: David N. Ream, City Manager <br />Loan No. 950114974 <br /> <br />with a copy to: <br /> <br />City of Santa Ana <br />20 Civic Center Plaza, M-29 <br />Santa Ana, CA 92701 <br />Attention: Benjamin Kaufman, Chief Assistant City Attorney <br />Loan No. 950114974 <br /> <br />or at such other address as the party to be served with notice may have furnished in writing to the party <br />seeking or desiring to serve notice as a place for the service of notice. Notices given in any other fashion <br />shall be deemed effective only upon receipt. <br /> <br />13. Events of Default. The occurrence of anyone or more of the following events shall <br />constitute an "Event of Default" under this Assignment: <br /> <br />(a) An Event of Default shall have occurred under the Loan Agreement, the Note or <br />any of the other Loan Documents beyond applicable notice and cure periods; or <br /> <br />(b) Borrower shall default in the performance of any other term, covenant or <br />agreement contained in this Assignment for thirty (30) days after written notice of such default <br />has been given to Borrower by Lender; provided, however, that if such default is of a nature that it <br />cannot be cured within thirty (30) days and Borrower commences and diligently proceeds within <br />such thirty (30) day period to cure such default, such cure period shall be extended for such <br />period of time as required to cure such default but in no event more than one hundred eighty <br />(180) additional days; or <br /> <br />(c) Borrower shall be in default beyond notice and cure periods, if any, under the <br />Sandpointe Agreement. <br /> <br />14. Successors and Assillns. This Assignment shall be binding upon Borrower and its <br />successors and assigns, but may not be assigned or transferred, in whole or in part, by Borrower and any <br />purported assignment by Borrower of this Assignment shall be void and of no force or effect. This <br />Assignment shall inure to the benefit of Lender and its respective successors and assigns, including, <br />without limitation, any holder of the Note, any participant in the Loan, and any affiliate of Lender or any <br />participant in the Loan who acquires all or part of the Project by any sale, assignment or foreclosure <br />under the Security Instrument, by deed or other assignment in lieu of foreclosure, or otherwise. Lender <br />may reassign its right, title and interest in and to the Sandpointe Agreement, in whole or in part, to any <br />Person succeeding to the interest of Borrower or Lender in the Loan, the Project, the Sandpointe <br />Agreement, in Lender's sole discretion without any requirement for consent by Borrower or any other <br />party, and any such reassignment shall be valid and binding upon Borrower, City, the Agency, <br />Sandpointe and Geneva Commons as fully as if each had expressly approved the same. Lender agrees <br />that it will notify Borrower of any reassignment made by Lender. <br /> <br />15. Governinll Law. Borrower hereby acknowledges, consents and agrees this Assignment <br />and the rights of all parties mentioned herein shall be governed by the Laws (as opposed to the conflict of <br />Laws) of the Governing State. <br /> <br />780574.01/0C <br />N6003-044/6-8-06/sijlsij <br /> <br />-4- <br />