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that it may have by reason of this indemnity and hold harmless agreement because of <br /> the acceptance by Agency, or the deposit with Agency by Borrower, of any of the <br /> insurance policies described in this Agreement or the Loan Agreement. <br /> 3.3 Books and Records. The Agency shall have the right, during business <br /> hours and after reasonable notice to Borrower, to inspect and copy Borrower's books <br /> and records concerning the use of the Loan Proceeds. <br /> 4. DEFAULT AND REMEDIES <br /> 4.1 Events of Default. The occurrence of any one or more of the following <br /> events shall constitute an event of default hereunder ( "Event of Default "): <br /> (a) Borrower fails to pay when due the principal and interest payable <br /> under the Note, and such failure continues for ten (10) days after Agency notifies <br /> Borrower thereof in writing. <br /> (b) A default on the part of Borrower arises under any Agency <br /> Document, and such failure continues after expiration of all applicable cure <br /> periods. <br /> (c) Any of Borrower's representations or warranties contained in this <br /> Agreement, or made by Borrower in connection with the execution and delivery <br /> of this Agreement or in any certificate furnished pursuant hereto, or in connection <br /> with any request for disbursement of Loan Proceeds shall prove to have been <br /> incorrect when made in any material respect. <br /> (d) Pursuant to or within the meaning of the United States Bankruptcy <br /> Code or any other federal or state law relating to insolvency or relief of debtors <br /> ( "Bankruptcy Law "), Borrower (i) commences a voluntary case or proceeding; <br /> (ii) consents to the entry of an order for relief against Borrower in an. involuntary <br /> • <br /> case; (iii) consents to the appointment of a trustee, receiver, assignee, liquidator <br /> or similar official for Borrower; (iv) makes an assignment for the benefit of its <br /> creditors; or (v) admits in writing its inability to pay its debts as they become due. <br /> (e) A court of competent jurisdiction enters an order or decree under <br /> any Bankruptcy Law that (i) is for relief against Borrower in an involuntary case, <br /> (ii) appoints a trustee, receiver, assignee, liquidator or similar official for Borrower <br /> or substantially all of such entity's assets, (iii) orders the liquidation of Borrower, <br /> or (iv) issues or levies a judgment, writ, warrant of attachment or similar process <br /> against the Property or the Project, and in each case the order or decree is not <br /> released, vacated, dismissed or fully bonded within 60 days after its issuance. <br /> (f) Borrower fails to maintain insurance as required pursuant to this <br /> Agreement, and Borrower fails to cure such default within 10 days. <br /> 1582106.2 6 <br />