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6 <br />The occurrence of any one or more of the following events shall constitute an event of <br />default hereunder ("Event of Default"): <br />(a)If Borrower fails to pay when due the principal and interest payable under <br />theNoteand such failure continues for five(5)days after Lendernotifies Borrower thereof in <br />writing. <br />(b)If, 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 ("Bankruptcy <br />Law"), Borrower (i) commences a voluntary case or proceeding; (ii) consents to the entry of an <br />order for relief against Borrower in an involuntary case; (iii) consents to the appointment of a <br />trustee, receiver, assignee, liquidator or similar official for Borrower; (iv) makes an assignment <br />for the benefit of its creditors; or (v) admits in writing its inability to pay its debts as they <br />become due. <br />(c)If a court of competent jurisdiction enters an order or decree under any <br />Bankruptcy Law that (i) is for relief against Borrower in an involuntary case, (ii) appoints a <br />trustee, receiver, assignee, liquidator or similar official for Borrower or substantially all of <br />Borrower’s assets, (iii) orders the liquidation of Borrower, or (iv) issues or levies a judgment, <br />writ, warrant of attachment or similar process against the Property or the Improvements, and in <br />each case the order or decree is not released, vacated, dismissed or fully bonded within sixty (60) <br />days after its issuance. <br />(d)If the Borrower fails to maintain insurance as required pursuant to the <br />Loan Documents, and Borrower fails to cure such default within five(5)calendardays. <br />(e)If any representation or warranty contained in the Loan Documents or any <br />certificate furnished in connection with the foregoing or in connection with any request for <br />disbursement of Loan Proceeds proves to have been false or misleading in any material adverse <br />respect when made. <br />(f)A default arises under any loan secured by a mortgage, deed of trust or <br />other security instrument recorded against the Property and remains uncured beyond any <br />applicable cure period such that the holder of such security instrument has the right to accelerate <br />repayment of such loan. <br />(g)If the Borrower defaults in the performance of any term, provision, <br />covenant or agreement (other than an obligation enumerated in this Article V) contained in this <br />Agreement or in any other Loan Document, and unless such document specifies a shorter cure <br />period for such default,the default continues for ten (10) days in the event of a monetary default <br />or thirty (30) days in the event of a nonmonetary default after the date upon which Lendershall <br />have given written notice of the default to Borrower (or such longer time as Lender)may agree <br />upon in writing), provided that in each case Borrower commences to cure the default within <br />thirty (30) days and thereafter prosecutes the curing of such default with due diligence and in <br />good faith. <br />ARTICLE VI