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herein after receipt of written notice (or such additional time as may be deemed by the City to be <br />reasonably necessary to correct the default). <br />d. Any failures or delays by the City in asserting any of its rights and remedies as to any <br />default shall not operate as a waiver of any default or of any such rights or remedies. Delays by <br />the City in asserting any of its rights and remedies shall not deprive the City of its right to institute <br />and maintain any actions or proceedings that it may deem necessary to protect, assert, or enforce <br />any such rights or remedies. <br />e. If a monetary event of default occurs under the terms of this Note or the Deed of Trust, <br />prior to exercising any remedies thereunder, City shall give Borrower written notice of such <br />default. Borrower shall have a period often(10) Business Days after such notice is received within <br />which to cure the default prior to exercise of remedies by City under this Note and the Deed of <br />Trust. <br />f If a non -monetary event of default occurs under the terns of this Note or the Deed of <br />Trust, prior to exercising any remedies thereunder, City shall give Borrower notice of such default. <br />If the default is reasonably capable of being cured within thirty (30) days, Borrower shall have <br />such period to effect a cure prior to exercise of remedies by the City under this Note and the Deed <br />of Trust. If the default is such that it is not reasonably capable of being cured within thirty (30) <br />days, and Borrower: (i) initiates corrective action within said period; and, (ii) diligently, <br />continually, and in good faith works to effect a cure as soon as possible, then borrower shall have <br />such additional time as is reasonably necessary to cure the default prior to exercise of any remedies <br />by City. In no event shall City be precluded from exercising remedies if its security becomes or is <br />about to become materially jeopardized by any failure to cure a default or the default is not cured <br />within one hundred and eighty (180) days after the first notice of default is given. <br />22. Insurance and Condemnation. <br />h1 the event of any fire or other casualty to the Property or eminent domain proceedings <br />resulting in condemnation of the Property, or any part thereof, Borrower shall have the right to <br />rebuild the Property, and to use all available insurance or condemnation proceeds therefor, <br />provided that: (a) such proceeds are sufficient to keep the hiclusionary Loan in balance and rebuild <br />the Property in a manner that provides adequate security to City for repayment of the Inclusionary <br />Loan, or if such proceeds are insufficient, then Borrower shall have funded any deficiency; (b) <br />City shall have the right to approve plans and specifications for any major rebuilding, and the right <br />to approve disbursements of insurance or condemnation proceeds for rebuilding under a <br />constriction escrow or similar arrangement; and, (c) no material uncured default then exists under <br />this Note or the Deed of Trust. If the casualty or condemnation affects only part of the Property <br />and total rebuilding is infeasible, then proceeds may be used for partial rebuilding and partial <br />repayment of the Inclusionary Loan in a mamler that provides adequate security for repayment of <br />the remaining balance of the Inclusionary Loan. <br />11 <br />