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03
City of Pleasanton
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CITY CLERK
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2016
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030116
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2/25/2016 4:13:47 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
3/1/2016
DESTRUCT DATE
15Y
DOCUMENT NO
03
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3.1 WAIVERS; AMENDMENTS; BORROWER'S WAIVERS. No waiver by City <br /> of any right or remedy under this Note shall be effective unless in a writing signed by City. <br /> Neither the 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 exercise of any such <br /> right, power or privilege by City will preclude any other or further exercise of such right,power <br /> or privilege or the exercise of any other right, power or privilege.No waiver that may be given <br /> by City will be applicable except in the specific instance for which it is given. No notice to or <br /> demand on Borrower will be deemed to be a waiver of any obligation of Borrower or of the right <br /> of City to take further action without notice or demand as provided in this Note. There shall be <br /> no amendment to or modification of this Note except by written instrument executed by <br /> Borrower and City. <br /> To the maximum extent permitted by applicable law Borrower hereby waives <br /> presentment, demand,protest, notices of dishonor and of protest and all defenses and pleas on <br /> the grounds of any extension or extensions of the time of payment or of any due date under this <br /> Note, in whole or in part,whether before or after maturity and with or without notice. <br /> 3.2 NOTICES. Any notice required or permitted to be given hereunder shall be given <br /> in accordance with Section 11.3 of the Loan Agreement. <br /> 3.3 SEVERABILITY. If any provision in this Note is held invalid or unenforceable <br /> by any court of competent jurisdiction, the other provisions of this Note will remain in full force <br /> and effect. Any provision of this Note held invalid or unenforceable only in part or degree will <br /> remain in full force and effect to the extent not held invalid or unenforceable. <br /> 3.4 GOVERNING LAW; VENUE. This Note shall be governed by the laws of the <br /> State of California without regard to principles of conflicts of laws. Any legal action filed in <br /> connection with this Note shall be filed in the Superior Court of Sonoma County, California, or <br /> in the Federal District Court for the Northern District of California. <br /> 3.5 PARTIES IN INTEREST. This Note shall bind Borrower and its successors and <br /> assigns and shall accrue to the benefit of City and its successors and assigns. <br /> 3.6 SECTION HEADINGS, CONSTRUCTION. The headings of Sections in this <br /> Note are provided for convenience only and will not affect its construction or interpretation. <br /> 3.7 RELATIONSHIP OF THE PARTIES. The relationship of Borrower and City <br /> under this Note is solely that of borrower and lender,and the loan evidenced by this Note and <br /> secured by the Deed of Trust will in no manner make City the partner or joint venturer of <br /> Borrower. <br /> 3.8 TIME IS OF THE ESSENCE. Time is of the essence with respect to every <br /> provision of this Note. <br /> 3.9 NONRECOURSE. Except as expressly provided in this Section 3.9, neither <br /> Borrower nor the general or limited partners of Borrower shall have personal liability for <br /> payment of the principal of, or interest on, this Note, and the sole recourse of City with respect to <br /> the payment of the principal of, and interest on, this Note shall be to the Project, the Property and <br /> OAK#4829-4624-9261 v2 8 <br />
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