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Active Lender a Lender acts in a fraudulent or grossly negligent <br />manner. <br />7.7 $otices. Notice hereunder shall be given <br />sufficiently if mailed, certified mail, return receipt requested, <br />to the address set forth in the Deed of trust for the appropriate <br />party or any different address as a party may otherwise designate <br />in writing. <br />7.8 Representations. Warranties and Covenants. The <br />Borrower and the City represent and warrant to and covenant with <br />the Lenders that: <br />(a) the Borrower and the City are organized and <br />existing under the laws of the State of California. <br />(b) the Borrower and the City have the power to <br />execute and deliver this Deed of trust, the Note and other Secured <br />Obligations and to enter into the transactions contemplated by the <br />Secured Obligations and the execution, delivery and performance of <br />said instruments have been duly authorized by all necessary <br />action. <br />(c) neither the execution and delivery of the Secured <br />Obligations, the consummation of the transactions contemplated <br />thereby nor the fulfillment of or compliance with the terms and <br />conditions of the Secured Obligations conflicts with or results in <br />any breach or violation of any of the terms, conditions or <br />provisions of any applicable laws, including regulations, or any <br />agreement or instrument to which the Borrower and /or the City is <br />now a party or by which it is bound, or constitutes a default <br />under any of the foregoing. <br />(d) this Deed of Trust shall create a valid first <br />lien on the Property in favor of the Lenders as their interests <br />may appear, which first lien, shall be maintained for the term of <br />this Deed of Trust. <br />(e) the Borrower and /or the City shall furnish to the <br />Lenders (i) an executed copy of this Agreement, (ii) a title <br />insurance policy in standard ALTA lender's form and in an amount <br />at least equal to the face amount of the Note satisfactory to the <br />Lenders insuring the first lien priority of this Deed of Trust <br />containing only such exceptions as are approved by the Lenders and <br />(iii) such opinion of the Borrower's and the City's legal counsel <br />and other documents as may reasonably be requested by the Lenders. <br />IN WITNESS WHEREOF, the Borrower and the City, together as <br />Trustor, have executed this Deed of Trust on the day and year set <br />forth above. If a mailing address is set forth opposite their <br />CHFA 52P.RIDGE.VIEW.1ST <br />O1/06/90.Q02374 -19- <br />