Reso 2000-103 - Laserfiche WebLink

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• FORM OF GUARANTY AMOUNT OF GUARANTY. The principal amount of this Guaranty is Two Hundred Thousand Dollars ($200,000). The principal amount shall be reduced according to the amounts owed by Borrower during the term of the loan. GUARANTY. For good and valuable consideration, the City of San Leandro ( "Guarantor ") absolutely and unconditionally guarantees and promises to pay to the Low Income Housing Fund ( "Lender ") or its order, on demand, in legal tender of the United States of America, the Indebtedness (as that temi is defined below) of ( "Borrower ") to Lender on the terms and conditions set forth in this Guaranty. DEFINITIONS: The following words shall have the following meanings when used in this Guaranty: Borrower: The word "Borrower" means The San Leandro Shelter for Women and Children Guarantor: The word "Guarantor" means the City of San Leandro Guaranty: The word "Guaranty" means this Guaranty made by Guarantor for the benefit of Lender dated June 26, 2000. Indebtedness: The word "Indebtedness" means the Note, including (a) all principal, (b) all interest, (c) all late charges, (d) all loan fees and loan charges, and (e) all collection costs and expenses relating to the Note or to any collateral for the Note. Collection costs and expenses include without limitation all of Lender's legal expenses, whether or not suit is instituted, and legal expenses for bankruptcy proceedings (including efforts to modify or vacate any automatic • stay or injunction), appeals, and any anticipated post judgement collection services. Lender: The word "Lender" means The Low Income Housing Fund, its successors and assigns. Note: The word "Note" means the promissory note dated , in the original principal amount of Two Hundred Thousand Dollars ($200,000) from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations of, and substitutions for the promissory note or agreement. •