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05-27-2026 Council Packet
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05-27-2026 Council Packet
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<br />46 <br />Little Canada-Lupe - Borrower Loan Agreement - LC Apartments(199386221.3) - 5/12/2026 6:38:21 PM <br />Section 10.6 Severability; Interest Limitation. If any provision hereof is found by a court of <br />competent jurisdiction to be prohibited or unenforceable in any jurisdiction, it shall be ineffective as to such <br />jurisdiction only to the extent of such prohibition or unenforceability, and such prohibition or <br />unenforceability shall not invalidate the balance of such provision as to such jurisdiction to the extent it is <br />not prohibited or unenforceable, nor invalidate such provision in any other jurisdiction, nor invalidate the <br />other provisions hereof, all of which shall be liberally construed in favor of the Governmental Lender in <br />order to effect the provisions of this Agreement. Notwithstanding anything to the contrary herein contained, <br />the total liability of the Borrower for payment of interest pursuant hereto shall not exceed the maximum <br />amount, if any, of such interest permitted by applicable Legal Requirements to be contracted for, charged <br />or received, and if any payments by the Borrower to the Funding Lender include interest in excess of such <br />a maximum amount, the Funding Lender shall apply such excess to the reduction of the unpaid principal <br />amount due pursuant hereto, or if none is due, such excess shall be refunded to the Borrower; provided that, <br />to the extent permitted by applicable Legal Requirements, in the event the interest is not collected, is applied <br />to principal or is refunded pursuant to this sentence and interest thereafter payable pursuant hereto shall be <br />less than such maximum amount, then such interest thereafter so payable shall be increased up to such <br />maximum amount to the extent necessary to recover the amount of interest, if any, theretofore uncollected, <br />applied to principal or refunded pursuant to this sentence. Any such application or refund shall not cure or <br />waive any Event of Default. In determining whether or not any interest payable under this Agreement <br />exceeds the highest rate permitted by applicable Legal Requirements, any non-principal payment (except <br />payments specifically stated in this Agreement to be “interest”) shall be deemed, to the extent permitted by <br />applicable Legal Requirements, to be an expense, fee, premium or penalty rather than interest. <br />Section 10.7 Conflicts. Insofar as possible the provisions of this Agreement shall be deemed <br />complementary to the terms of the other Funding Loan Documents, but in the event of conflict the terms <br />hereof shall control to the extent such are enforceable under applicable Legal Requirements. <br />Section 10.8 Complete Agreement. Taken together with the other Funding Loan Documents <br />and the other instruments and documents delivered in compliance herewith, this Agreement is a complete <br />memorandum of the agreement of the Borrower, the General Partner, the Guarantor, the Controlling Person, <br />the Funding Lender, the Governmental Lender and the Noteowners from time to time of the Governmental <br />Note, with respect to the subject matter hereof. <br />Section 10.9 Consent to Jurisdiction; Venue; Waiver of Jury Trial. The parties hereby <br />irrevocably (i) agree that any suit, action or other legal proceeding arising out of or relating to this <br />Agreement or the other Funding Loan Documents may be brought in any federal court located in the State <br />and consents to the jurisdiction of such court in any such suit, action or proceeding; (ii) agree that any suit, <br />action or other legal proceeding relating to the Funding Loan Documents shall be brought solely in a federal <br />or state court located in the State and (iii) waive any objection which it may have to the laying of venue of <br />any such suit, action or proceeding in any such court and any claim that any such suit, action or proceeding <br />has been brought in an inconvenient forum. The parties hereby irrevocably consent to the service of any <br />and all process in any such suit, action or proceeding by mailing of copies of such process to such party at <br />its address provided under or pursuant to Section 10.1 hereof. The parties agree that a final judgment in <br />any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the <br />judgment or in any other manner provided by applicable legal requirements. All mailings under this Section <br />shall be by certified or registered mail, return receipt requested. Nothing in this Section shall affect the <br />right of the Controlling Person and the Funding Lender to serve legal process in any other manner permitted <br />by applicable Legal Requirements. THE PARTIES HERETO HEREBY WAIVE THE RIGHT TO <br />TRIAL BY JURY IN ANY ACTION ARISING UNDER THIS AGREEMENT, ANY OF THE <br />OTHER FUNDING LOAN DOCUMENTS OR OTHERWISE IN CONNECTION HEREWITH.
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