Agmt 2017 CDBG-Housing Consortium of the East Bay (HCEB)

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(a) Participant removes the Improvements from the Property or fails to maintain the Improvements and the Property in good condition and repair in violation of Section 3.4. (b) Any representation or warranty contained in this Agreement or any certificate furnished in connection with the foregoing or in connection with any request for disbursement of Loan Proceeds proves to have been false or misleading in any material adverse respect when made. (c) Participant defaults in the performance of any term, provision, covenant or agreement (other than an obligation enumerated in this Article V contained in this Agreement or unless a shorter cure period for such default is specified herein, the default continues for ten (10) days in the event of a monetary default or thirty (30) days in the event of a nonmonetary default after the date upon which City shall have given written notice of the default to Participant(or such longer time as City may agree upon in writing), provided that in each case Participant commences to cure the default within thirty(30)days and thereafter prosecutes the curing of such default with due diligence and in good faith. (d) Participant becomes insolvent or shall cease to pay its debts as they mature or voluntarily files a petition seeking reorganization of, or the appointment of a receiver, trustee, or liquidation for it or a substantial portion of its assets, or to effect a plan or other arrangement with creditors, or shall be adjudicated bankrupt, or shall make voluntary assignment for the benefit of creditors. (e) An insolvency petition is filed against Participant under any bankruptcy, insolvency, or similar law or seeking the reorganization of or the appointment of a receiver, trustee, or liquidator for Recipient, or of a substantial part of the property of the Recipient's, or a writ or warrant of attachment or similar process shall be issued against a substantial part of the property of Recipient, and such petition shall not be dismissed, or such writ or warrant of attachment or similar process shall not be released or bonded,within sixty(60)days of filing of levy. 5.2 REMEDIES AND RIGHTS UPON DEFAULT. Upon the occurrence of an Event of Default, City shall have all remedies available to it under law or equity, including, but not limited to the following, and City may, at its election, without notice to or demand upon Participant, except for notices or demands required by law or expressly required pursuant to this Agreement, exercise one or more of the following remedies: a) Seek specific performance to enforce the terms of this Agreement; b) Accelerate and declare the balance of the Note and interest accrued thereon immediately due and payable; C) [Reserved]; d) Pursue any and all other remedies available under law to enforce the terms of this Agreement and City's rights hereunder. 5.3 REMEDIES CUMULATIVE. Each of the remedies provided herein is cumulative and not exclusive of, and shall not prejudice any other remedy provided herein. The City may exercise from time to time any rights and remedies available to it under applicable law, in addition to, and not in lieu of, any rights and remedies expressly granted in this Agreement or in any other instrument or notice, demand or legal process of any kind. 9 Capital Improvement Loan Agreement-HCEB October 1,2017