DEPOSIT AGREEMENT FOR CHFA - Laserfiche WebLink

5. The Depositor agrees to pay all costs or expenses incurred by the Depository, including court costs and reasonable attorneys' fees, by reason of acting as depository. Because the Depository shall act solely at all times on written instructions from CHFA with respect to the funds deposited, the Depositor acknowledges that the Depository shall be relieved of any liability or claims of any nature, excepting any liability or claim arising from a negligent act or omission or misconduct of the Depository. 6. CHFA expressly agrees that the Owner or the City shall have the right and option to substitute, at any time, an unconditional, irrevocable letter of credit in place of the cash held by the Depository. Said letter of credit shall be in favor of CHFA, shall be in the form acceptable to CHFA and shall be in an amount equal to the amount held by the Depository at the time of the subsitution (i.e., the $2,000,000.00 less any withdrawals or releases approved by CHFA in writing). 7. This Agreement shall not be amended or revoked without the express written consent of CHFA. 8. This Agreement may be executed in several counterparts, each of which shall be deemed to be an original and such counterparts shall constitute one and the same instrument. 9. In the event an action is commenced to enforce the terms of this Agreement, the prevailing party shall be entitled to recover reasonable costs, including attorney's fees. 10. It is understood and agreed that whenever used herein the singular number shall include the plural, the plural the singular, and the use of any gender applicable to all genders. 11. This agreement shall be binding upon and inure to the benefit of the respective successors and assigns of the parties hereto and upon the legal representatives of the Depositor. The word "CHFA" shall be deemed to include the successor or successors of the agency. In witness whereof the parties hereto have duly executed this Agreement the date and year first above written. RIDGE VIEW COMMONS ASSOCIATES, a California Limited Partnership By: RVC Investments, Inc., a California nonpro 't public benefit corp-. ation, its g• eral part er 1 BY: tiff i atherin• A. Merschel Executive Director 20c:CHFASRA.RVC 3 (1/8/90)