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10A Action 2012 0716
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10A Action 2012 0716
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7/24/2012 4:10:35 PM
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7/11/2012 11:42:55 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
7/16/2012
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_CC Agenda 2012 0716 CS+RG
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2012\Packet 2012 0716
Reso 2012-094
(Reference)
Path:
\City Clerk\City Council\Resolutions\2012
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9. Enforcement If the City shall be made a party to or shall reasonably intervene in any <br />action or proceeding, whether in court or before any governmental agency, affecting the Project <br />or the title thereto or the interest of the City under the Deed of Trust, including without <br />limitation, any form of condemnation or eminent domain proceeding, the City shall be <br />reimbursed by Borrower immediately upon demand for all costs, charges, and reasonable <br />attorneys' fees incurred by the City in any such case, and the same shall be secured by the Deed <br />of Trust as a further charge and lien upon the Project. <br />10. Notices Any notices provided for in this Note shall be given by mailing such notice by <br />certified mail, return receipt requested at the addresses set forth in the Loan Agreement or at <br />such address as either party may designate by written notice. <br />11. Binding on Successors This Note shall be binding upon Borrower, its successors and <br />assigns. <br />12. Non - Recourse This Note is nonrecourse and neither Borrower nor any member, officer, <br />partner or employee of Borrower shall have any personal liability for repayment of the sums <br />evidenced hereby, and the City must resort only to the Project for repayment should the <br />Borrower fail to repay the sums evidenced hereby. <br />13. Governing Law This Note shall be construed in accordance with and be governed by the <br />laws of the State of California. <br />14. Severability If any provision of this Note shall be invalid, illegal or unenforceable, the <br />validity, legality and enforceability of the remaining provisions hereof shall not in any way be <br />affected or impaired thereby. <br />[SIGNATURE ON FOLLOWING PAGE] <br />1908509.2 <br />
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