1996 AGN NOV 05 I28 - Laserfiche WebLink

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If to the City of Loma Linda City of Loma Linda 25541 Barton Road Loma Linda, CA 92354 Attn: City Manager Section 4.10. Partial Invalidity. If any Section, paragraph, sentence, clause or phrase of this Loan Agreement shall for any reason be held illegal, invalid or unenforceable, such holding shall not affect the validity of the remaining portions of this Loan Agreement. Section 4.11. Gov rnina Law. This Loan Agreement shall be construed and governed in accordance with the laws of. the State of California. Section 4.12. CQUntprparts. This Loan Agreement may be executed in one or more counterparts, each of which shall constitute an original. Section 4.13. Parity of Loa=- Each loan made by the Lenders under this Loan Agreement shall be deemed to have equal dignity and priority with the other loans made hereunder, and no Loan, plus interest thereon, made by any Lender shall have any priority or superior payment position over any other Loan made by the other Lenders pursuant to this Loan Agreement, except as may result from Section 2.06.e. In the event the Loans required by the provisions of this Loan Agreement to be repaid on or before Jure 30, 1997, are not so paid, and the additional Loans pursuant to the provisions of Section 2.07 are required to be made to the Authority, then commencing on July 1, 1997, and thereafter the provisions of Section 11 of the Joint Powers Agreement shall determine the principal amounts required to be loaned by the Lenders to the Authority for the continued funding of the operations and capital requirements of the Authority.