RES 17969 - Laserfiche WebLink

(11) Loan Documents All documents executed by Lessee evidencing or securing a Leasehold Mortgage (mm) Management Agent: The Person designated from time to time as "Management Agent" of all or any portion of the Improvements under any management agreement entered into from time to time with Lessee The initial Management Agent will be MidPen Property Management Corporation (nn) Net Condemnation Award The net amounts owed or paid to the Parties or to which either of the Parties may be or become entitled by reason of any Taking or pursuant to any agreement with any condemning authority which has been made in settlement of any proceeding relating to a Taking, less any costs and expenses incurred by the Parties in collecting such award or payment. (oo) Partnership The limited partnership that is the Lessee (pp) Party Lessor or Lessee, as applicable. Lessor and Lessee shall be referred to collectively as the "Parties " (qq) Permitted Encumbrances. Permitted title encumbrances as defined in Section 9.1(a) (rr) Person: An individual, partnership, corporation, public benefit corporation, trust, unincorporated association, or other entity or association (ss) Phase II or the Project The Improvements as defined above (tt) Regulatory Agreement That certain Affordable Housing Regulatory Agreement and Declaration of Restrictive Covenants to be executed by Lessor and Lessee and recorded concurrently with execution of this Lease (uu) Rent As descnbed in Section 4.1 hereof (vv) Senior Loan. That certain permanent loan the original principal amount of [$8,500,000] to be provided by California Municipal Finance Agency to Lessee. (ww) Taking A taking during the Term hereof of all or any part of the Leased Premises and/or the Improvements, or any interest therein or right accruing thereto, as a result of the exercise of the right of condemnation or eminent domain materially affecting the Leased Premises or any part thereof A conveyance in lieu of or in anticipation of the exercise of any such right of condemnation or eminent domain shall be considered a Taking Any such Taking shall be deemed to have occurred upon the earlier to occur of(a) the date on which the property, right or interest so taken must be surrendered to the condemning authority, or(b) the date title vested in a condemning authority or other party pursuant to any Taking (xx) Tax Credit Eligible Household. A household that is eligible to rent and occupy a qualified low income dwelling unit under Section 42 of the Internal Revenue Code and applicable TCAC and State of California Legal Requirements relating to low income housing tax 6 191\52\1656915 8 OAK#4834-9609-1684 v9