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Bonus for Affordable Housing, and the terms and conditions of this Agreement. For the duration <br />of the Term, this Agreement shall have priority over any and all mortgages, deeds of trust, and <br />other similar forms of secured financing recorded against the Property or any portion thereof. <br />Developer expressly understands and acknowledges that state law requires preservation of <br />affordability covenants in connection with the approval of this density bonus project. <br />8.23 Attorneys' Fees and Costs. If either Party to this Agreement commences an <br />action against the other Party to this Agreement arising out of or in connection with this <br />Agreement, the prevailing Party shall be entitled to recover reasonable attorneys' fees, expert <br />witness fees, costs of investigation, and costs of suit from the losing Party. <br />8.24 Authority to Execute. The person or persons executing this Agreement on behalf <br />of each Party warrants and represents that he or she/they have the authority to execute this <br />Agreement on behalf of his or her/their corporation, partnership or business entity and warrants <br />and represents that he or she/they has/have the authority to bind the Party to the performance of its <br />obligations hereunder. <br />{Signatures on following page} <br />21 <br />2130 East Fourth Street Density Bonus Agreement <br />5 53 94.0010 1 \43846773.1 <br />