Laserfiche WebLink
Loan Agreement between City and SLUSD <br /> 2.3 REMEDIES. The rights and remedies of City under this Note shall be <br /> cumulative and not alternative. Upon the occurrence of an Event of Default <br /> hereunder, City may, at its option: (i) by written notice to District declare the entire <br /> unpaid principal balance of this Note, together with all accrued interest thereon and <br /> all sums due hereunder, immediately due and payable regardless of any prior <br /> forbearance, (ii) exercise any and all rights and remedies available to it under law or <br /> equity, and (iii) exercise any and all rights and remedies available to City pursuant to <br /> the Loan Agreement. To the extent City must exercise its rights under this <br /> Agreement at law or equity, District shall pay City's attorneys' fees and costs. <br /> 3. MISCELLANEOUS <br /> 3.1 WAIVER: AMENDMENT. No waiver by City of any right or remedy <br /> under this Note shall be effective unless in a writing signed by City. Neither the <br /> failure nor any delay in exercising any right, power or privilege under this Note will <br /> operate as a waiver of such right, power or privilege, and no single or partial <br /> exercise of any such right, power or privilege by City will preclude any other or <br /> further exercise of such right, power or privilege or the exercise of any other right, <br /> power or privilege. There shall be no amendment to or modification of this Note <br /> except by written instrument executed by City and District. <br /> 3.2 NOTICES. Any notice required or permitted to be given hereunder <br /> shall be given in accordance with Section 13 of the Loan Agreement. <br /> 3.3 SEVERABILITY. If any provision in this Note is held invalid or <br /> unenforceable by any court of competent jurisdiction, the other provisions of this <br /> Note will remain in full force and effect. Any provision of this Note held invalid or <br /> unenforceable only in part or degree will remain in full force and effect to the extent <br /> not held invalid or unenforceable. <br /> 3.4 GOVERNING LAW; VENUE. This Note shall be construed and <br /> enforced in accordance with the laws of the State of California without regard to <br /> principles of conflicts of law. Any legal action filed in connection with this Note shall <br /> be filed in the Superior Court of Alameda County, California. <br /> 3.5 SECTION HEADINGS, CONSTRUCTION. The headings of Sections <br /> in this Note are provided for convenience only and will not affect its construction or <br /> interpretation. <br /> 3.6 RELATIONSHIP OF THE PARTIES. The relationship of District and <br /> City under this Note is solely that of borrower and lender, and the loan evidenced by <br /> this Note will in no manner make District the partner or joint venturer of City. <br /> 8 <br />