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RES 2024040
City of Pleasanton
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RES 2024040
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6/18/2024 4:24:22 PM
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6/18/2024 4:22:47 PM
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CITY CLERK
CITY CLERK - TYPE
RESOLUTIONS
DOCUMENT DATE
6/4/2024
DESTRUCT DATE
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5 <br />4859-3312-3005v3 <br />“Investor” means the low income housing tax credit investor that will provide equity to <br />the Project and all permitted successors and assigns. __________________ is the initial Investor. <br />“Land” is defined in Recital A. <br />“Lease Year” means a calendar year during the term of this Lease. <br />“Leased Premises” means the Land, together with all easements, licenses, privileges and <br />appurtenances attaching or in any way belonging thereto. <br />“Leasehold Mortgage” means any mortgage, deed of trust, security agreement or <br />collateral assignment pursuant to an Approved Loan encumbering Lessee’s Estate as a leasehold <br />mortgage lien. <br />“Legal Requirements” means all laws, statutes, codes, ordinances, orders, rules, <br />regulations and requirements of all Governmental Authorities and the appropriate agencies, <br />officers, departments, boards and commissions thereof, whether now or hereafter in force <br />applicable to Lessor, Lessee, the Leased Premises, the Improvements, or any portion thereof, to <br />the extent so applicable. <br />“Lender” means the holder, mortgagee, grantee or secured party under any Leasehold <br />Mortgage, including, without limitation, the Senior Lender. <br />“Lessee’s Estate” or “Leasehold Estate” means during the Term of this Lease, Lessee’s <br />leasehold interest in the Land and Lessee’s fee ownership interest in the Improvements. <br />“Lessor’s Estate” means Lessor’s fee estate in the Land and reversionary interest in the <br />Improvements pursuant to this Lease. <br /> “Management Agent” means the person or entity designated from time to time as <br />“Management Agent” of all or any portion of the Improvements under any property management <br />agreement entered into from time to time with Lessee. <br />“Memorandum” means the Memorandum of Ground Lease to be executed by the Parties <br />substantially in the form attached hereto as Exhibit B and recorded in the Official Records as of <br />the Commencement Date. <br />“Note” means that certain Amended and Restated Secured Promissory Note dated as of <br />the date hereof, executed by Lessee for the benefit of Lessor and evidencing Lessee’s obligation <br />to repay the City Loan. The form of Note is attached hereto as Exhibit D. <br />“Net Condemnation Award” means the net amounts owed or paid to the Parties or to <br />which either of the Parties may be or become entitled by reason of any Taking or pursuant to any <br />agreement with any condemning authority which has been made in settlement of any proceeding <br />relating to a Taking, less any costs and expenses incurred by the Parties in collecting such award <br />or payment <br />“Official Records” means the Official Records of Alameda County.
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