Agmt 2009 Alameda County Allied Housing Program

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the Note shall be to the Project, the Property and any other collateral held by City as security for this Note; provided however, nothing contained in the foregoing limitation of liability shall: (A) impair the enforcement against all such security for the Loan of all the rights and remedies of the City under the City Deed of Trust and any financing statements City files in connection with the Loan, as each of the foregoing may be amended, modified, or restated from time to time; (B) impair the right of City to bring a foreclosure action, action for specific performance or other appropriate action or proceeding to enable City to enforce and realize upon the City Deed of Trust, the interest in the Property and the Improvements created thereby and any other collateral given to City in connection with the indebtedness evidenced by this Note, and to name the Borrower as party defendant in any such action; (C) be deemed in any way to impair the right of the City to assert the unpaid principal amount of the Loan as a demand far money within the meaning of Section 431.70 of the California Code of Civil Procedure or any successor provision thereto; {D) constitute a waiver of any right which City may have under any bankruptcy law to file a claim for the foil amount of the indebtedness owed to City under the Note or to require that the Property and the Improvements shall continue to secure all of the indebtedness owed to City in accordance with the Note and the City Deed of Trust; or (E) limit or restrict the ability of City to seek or obtain a judgment against Borrower to enforce against Borrower to: (1) recover under Sections 4.8 and 4.13.2 of the City Loan Agreement (pertaining to Borrower's indemnification obligations), or (2) recover from Borrower compensatory damages as well as other costs and expenses incurred by City (including without limitation attorney's fees and expenses) arising as a result of the occurrence of any of the following: (a) any fraud or material misrepresentation on the part of the Borrower, or any officer, director or authorized representative of the Borrower in connection with the request for or creation of the Loan, or in any City Document, or in connection with any request for any action or consent by City in connection with the Loan; (b) any failure to maintain insurance on the Property and Improvements as required pursuant to the City Documents; {c) failure to pay taxes, assessments or other charges which may become liens on the Property or Improvements; d) the presence of hazardous or toxic material or waste on. the Property or other violation of the Borrower's obligations under Section x}.13.1 of the City Loan Agreement, or Section 7.9 of the City Deed of Trust {pertaining to environmental matters); SECURED PROMISSpRY NOTE 7 MISS14N BEI,I. APARTMENTS 1232840-d