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Inst 2009067181
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Inst 2009067181
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Last modified
3/30/2009 9:37:10 AM
Creation date
3/30/2009 9:37:10 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
1/1/2009
Recorded Document Type
OPA
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PERM
Document Relationships
Inst 2007334383
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007334384
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007334385
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2007334387
(Amended)
Path:
\City Clerk\City Council\Recorded Documents\2007
Inst 2009195594
(Amended by)
Path:
\City Clerk\City Council\Recorded Documents\2009
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rents, revenue or other income of the Development collected by the receiver or by <br />the mortgagee-in-possession shall be utilized for the payment of interest, <br />principal, or any other charges due and payable under the City Deed of Trust <br />and/or Agency Deed of Trust, except from Residual Receipts, if any, as the term <br />is defined in the HUD Regulatory Agreement. The appointment of a receiver <br />shall require approval by the Secretary of HUD, and pursuant to HUD regulations, <br />as long as the City or the Agency is the beneficiary under the City Deed of Trust <br />or Agency Deed of Trust, respectively, the Agency and/or City cannot be a <br />mortgagee-in-possession. In the event of the appointment, by any court, of any <br />person, other than HUD, the City or Agency, as a receiver or a mortgagee or party <br />in possession, or in the event of any enforcement of any assignment of leases, <br />rents, issues, profits, or contracts contained in the City and Agency Loan <br />Documents, with or without court action, no rents, revenue or other income of the <br />Development collected by the receiver, person in possession or person pursuing <br />enforcement as aforesaid, shall be utilized for the payment of interest, principal or <br />any other amount due and payable under the provisions of the City and Agency <br />Loan Documents, except from Residual Receipts in accordance with the HUD <br />Regulatory Agreement. The receiver, person in possession or person pursuing <br />enforcement shall operate the Development in accordance with all provisions of <br />the HUD Documents. <br />10. Amendment. No amendment to the City and Agency Loan Documents made after <br />the date of this Rider shall have any force or affect until and unless such <br />amendment is approved in writing by HUD. <br />ESTABROOK SENIOR HOUSING, REDEVELOPMENT AGENCY <br />L.P., a California limited partnership OF THE CITY OF SAN LEANDRO, <br />a public agency <br />By: Eden Development, Inc., <br />a California nonprofit public benefit By: ~, .%,~~%~,~= <br />corporation <br />Its: General Partner ~ Name: Stephen L . Hollister <br />Executive Director <br />By: ~•~(~(~,w„cc <br />Terese McNamee <br />Acting Executive Director <br />1194386-5 <br />THE CITY OF SAN LEANDRO, <br />a municipal corporation <br />By: , e.--- -~ ~~ ~ ~ <~~~-- <br />Name: Stephen L . Hollister <br />City Manager <br />~~ <br />U <br />
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