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or tendered by one or more of Borrower's partners shall be deemed to be a cure by Borrower and <br />shall be accepted or rejected on the same basis as if made or tendered by Borrower. <br />3.2 City's Remedies. Upon the occurrence of an Event of Default, the City may pursue <br />any remedy allowed at law or in equity, including but not limited to, accelerating payment under the <br />Note, pursuing foreclosure under the Deed of Trust, or applying to any state or federal court for an <br />order of specific performance of this Agreement and the Regulatory Agreement. <br />3.3 Remedies Cumulative; Inaction Not a Waiver. The exercise by City of one or more <br />remedy shall not preclude the exercise by it, at the same or different time, of any other remedy for <br />the same or any other default hereunder. No failure or delay by City in asserting any of its rights and <br />remedies as to any default shall operate as a waiver of such default or of any such rights or remedies, <br />nor deprive City of its rights to institute and maintain any action or proceeding which it may deem <br />necessary to protect, assert or enforce any such rights or remedies in the same or any subsequent <br />default. <br />ARTICLE IV <br />HOME PROGRAM REQUIREMENTS <br />4.1 HOME Laws & Regulations. Borrower shall comply with all applicable HOME <br />Program Regulations and any applicable successor state or federal laws or regulations, all as <br />amended and in effect from time to time, including (but not limited to) the requirements set forth in <br />this Agreement and/or the Regulatory Agreement. In the event of any conflict between this <br />Agreement and applicable laws and regulations governing the HOME Program and the use of the <br />Loan proceeds, the applicable HOME Program laws and regulations shall govern. The Borrower <br />agrees to enter into any modification of this Agreement and/or the Regulatory Agreement reasonably <br />required by the City to attain compliance with the requirements of the HOME Program. Borrower <br />acknowledges and agrees that it has reviewed the HOME Program Regulations in effect as of the <br />date of execution of this Agreement. <br />4.2 Specific Requirements. The laws and regulations governing the HOME Program and <br />the use of the HOME Loan include (but are not limited to) the following: <br />(1) Environment and Historic Preservation. Section 104(f) of the Housing and <br />Community Residence Act of 1974 and 24 CFR Part 58, which prescribe procedures for compliance <br />with the National Environmental Policy Act of 1969 (42 U. S.C. 4321-4361), and the additional laws <br />and authorities listed at 24 CFR 58.5. The historic preservation requirements set forth in the <br />National Historic Preservation Act of 1966, as amended and the procedures set forth in 36 CFR Part <br />800. <br />(2) Applicable OMB Circulars. The applicable policies, guidelines, and requirements of <br />OMB Circulars Nos. A-87, A-102 (Revised), A-110, A-122, and A-128. <br />(3) Lead -Based Paint. The requirements of the Lead -Based Paint Poisoning Prevention <br />Act, as amended (42 U.S.C. 4821 et seq.), the residential Lead- Based Paint Hazard Reduction Act <br />(42 U.S.C. 4851 et seq.) and implementing regulations at 24 CFR Part 35. <br />2220130.1 Page 13 <br />