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RES 2024040
City of Pleasanton
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CITY CLERK
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RES 2024040
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6/18/2024 4:24:22 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
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4854-3151-6602 v3 9 <br />legal rate of interest, the rate shall be the maximum rate permitted by law. The imposition or <br />acceptance of the Default Rate shall in no event constitute a waiver of a default under this Note <br />or prevent City from exercising any of its other rights or remedies. <br />2.4 LIMITED PARTNERS RIGHT TO CURE. Borrower’s limited partner(s) shall <br />have the right to cure any default of Borrower hereunder upon the same terms and conditions <br />afforded to Borrower. Any cure tendered by a limited partner of Borrower shall be deemed to be <br />a cure by Borrower and shall be accepted or rejected on the same basis as if tendered by <br />Borrower. <br />3. MISCELLANEOUS. <br /> 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 the Ground Lease. <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 Alameda County, California, or <br />in the Federal District Court for the Northern District of California. <br />3.5 BINDING ON SUCCESSORS. This Note shall bind Borrower and its successors <br />and 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.
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