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2007/12/05 Council Agenda Packet
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2007/12/05 Council Agenda Packet
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Council Agenda Packet
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12/5/2007
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r <br /> L <br /> shall not be unreasonably withheld. Subject to any such consent requirement, the exercise of <br /> rights under such agreement shall not constitute a default or accelerate maturity of the Loan. <br /> 8. Loan Assumption. If the purchase option and right of first refusal agreement <br /> described in the Partnership Agreement is not exercised and the Project is sold subject to <br /> low-income housing use restrictions as contained in an existing regulatory agreement or other <br /> recorded covenant, any requisite consent of lender to said sale, and to the assumption without <br /> penalty of loan obligations by the purchaser and the release of Borrower from such obligations, <br /> shall not be unreasonably withheld. <br /> 9. Lender Approvals, Etc. In any approval, consent, or other determination by <br /> Lender required under any of the Loan Documents, Lender shall act reasonably and in good <br /> faith. <br /> D - 3 <br /> 6 f^7 <br /> E <br />
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