Covenants of Owner. Owner covenants and agrees, at its own cost and expense, with Note Holder and Mortgagee as follows:
Covenants of Owner. (a) Owner agrees in general: (i) to indemnify Bank against all losses, claims, demands, liabilities and expenses of every kind caused by property subject hereto; (ii) to permit Bank to exercise its powers; (iii) to execute and deliver such documents as Bank deems necessary to create, perfect and continue the security interests contemplated hereby; (iv) not to change Owner's name, and as applicable, its chief executive office, its principal residence or the jurisdiction in which it is organized and/or registered without giving Bank prior written notice thereof; (v) not to change the places where Owner keeps any Collateral or Owner's records concerning the Collateral and Proceeds without giving Bank prior written notice of the address to which Owner is moving same; and (vi) to cooperate with Bank in perfecting all security interests granted herein and in obtaining such agreements from third parties as Bank deems necessary, proper or convenient in connection with the preservation, perfection or enforcement of any of its rights hereunder.
(b) Owner agrees with regard to the Collateral and Proceeds, unless Bank agrees otherwise in writing: (i) that Bank is authorized to file financing statements in the name of Owner to perfect Bank's security interest in Collateral and Proceeds; (ii) where applicable, to insure the Collateral with Bank named as loss payee, in form, substance and amounts, under agreements, against risks and liabilities, and with insurance companies satisfactory to Bank; (iii) where applicable, to operate the Collateral in accordance with all applicable statutes, rules and regulations relating to the use and control thereof, and not to use any Collateral for any unlawful purpose or in any way that would void any insurance required to be carried in connection therewith; (iv) not to remove the Collateral from Owner's premises except in the ordinary course of Owner's business; (v) to pay when due all license fees, registration fees and other charges in connection with any Collateral; (vi) not to permit any lien on the Collateral or Proceeds, including without limitation, liens arising from repairs to or storage of the Collateral, except in favor of Bank; (vii) not to sell, hypothecate or dispose of, nor permit the transfer by operation of law of, any of the Collateral or Proceeds or any interest therein, except sales of inventory to buyers in the ordinary course of Owner's business; (viii) to permit Bank to inspect the Collateral at any time; (ix) t...
Covenants of Owner. Owner acknowledges that the covenants of Owner contained in this Option Agreement, including the covenants contained in this Section 11 (the “Covenants”), are material inducements to Optionee to enter into this Option Agreement. The Covenants specifically delineated in this section are the following:
Covenants of Owner. During the Term of this Agreement, Owner hereby covenants and agrees with the City as follows:
Covenants of Owner. Owner agrees that:
Covenants of Owner. Owner covenants and agrees, at its own cost and expense, with each Note Holder and Mortgagee as follows:
Covenants of Owner. Owner covenants and promises that:
Covenants of Owner. So long as the Airframe or any Engine is subject to the Lien of this Agreement, the Owner covenants and agrees as follows:
Covenants of Owner. The Owner covenants as follows:
(A) Owner is owner of certain real property located in the County of San Bernardino, described in Exhibit A.
(B) Owner proposes to construct for-sale units on the property described above. The County's General Plan permits the construction of housing units on the property. Owner has requested a percent bonus density. County agrees that Owner shall receive the requested bonus density and any other housing incentive set forth in the HIP in consideration for compliance with all terms of this HIP Sale Agreement.
(C) Owner agrees that percent of the number of units permitted by the General Plan or
(D) In accordance with this HIP Sale Agreement, the Owner shall make available for sale (to
(E) The annual household income for the lower and very low income groups shall have a maximum as defined in Section 1.1. If, after 180 days from the date of final approval of the Project by the County, escrows have not begun on the required number of affordable units to qualified buyers, income limitations are eliminated for the affordable units which have not been placed in escrow, provided the Owner has documented to the County the following:
1. Owner has advertised, not less than once a week, over a 180-day period. Owner shall place a 1/8 page legal display advertisement in a newspaper of general circulation.
2. Owner has contacted the (Housing Authority or local Board of Realtors) requesting qualified buyers, not less than once a month.
3. Listing of names and addresses of interested qualified potential buyers for the affordable units.
(F) Notwithstanding any other provision of this HIP Sale Agreement to the contrary, under no circumstances shall any of the following be eligible to purchase any of the units in the Project as a lower income or very low income buyer:
1. The Owner, independent contractors of the Owner, and any management companies and sales/rental agencies retained by the Owner.
2. Employees or owners of any entity listed in 1. above.
3. Family members of any individual listed in 2, above. As used herein. The term "family member" means spouse, children, grandparents and parents.
(G) Owner shall not rent housing units(s) committed as affordable housing unless Owner and County of San Bernardino first enter into an Housing Incentives Program Rental Agreement relating to those units. The County at its discretion may refuse to execute a Housing Incentives Program Rental Agreement and Owner shall have no recourse against County for su...
