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<br />EXHIBIT 3 <br />provided by law, including, without limitation, the right to seek specific performance and <br />the right to foreclose on any security and exercise any other rights with respect to any <br />security, all in such order and manner as City elects in its sole and absolute discretion; <br />(d)Suspend or terminate the award of City/HOME-ARP funds if <br />Developer fails to comply with any term of that award; and, <br />(e)Cure any monetary Event of Default by Developer under a loan <br />other than the City/HOME-ARP Loan. The Developer agrees to reimburse the City for <br />any funds advanced by the City to cure any such monetary default by Developer upon <br />demand therefor, together with interest thereon at the rate of twelve percent (12%) per <br />annum (which rate shall in no event exceed the maximum rate permitted by law and if it <br />does, said rate shall be reduced to the maximum rate then permitted by law), from the date <br />of expenditure until the date of reimbursement. <br />20.3. Cumulative Remedies: No Waiver. City's rights and remedies under the <br />Loan Documents are cumulative and in addition to all rights and remedies provided by law. <br />The exercise by City of any right or remedy shall not constitute a cure or waiver of any <br />default, nor invalidate any notice of default or any act done pursuant to any such notice, <br />nor prejudice the City in the exercise of any other right or remedy. No waiver of any default <br />shall be implied from any omission by City to take action on account of such default if <br />such default persists or is repeated. No waiver of any default shall affect any default other <br />than the default expressly waived, and any such waiver shall be operative only for the time <br />and to the extent stated. No waiver of any provision of any Loan Document shall be <br />construed as a waiver of any subsequent breach of the same provision. City's consent to or <br />approval of any act by Developer requiring further consent or approval shall not be deemed <br />to waive or render unnecessary City's consent to or approval of any subsequent act. The <br />City's acceptance of the late performance of any obligation shall not constitute a waiver by <br />City of the right to require prompt performance of all further obligations; City's acceptance <br />of any performance following the sending or filing of any notice of default shall not <br />constitute a waiver of either party's right to proceed with the exercise of its remedies for <br />any unfulfilled obligations; and City's acceptance of any partial performance shall not <br />constitute a waiver by City of any rights. <br />20.4. Nonrecourse Liability. Neither Developer, nor any other party, including <br />any partner of Developer, shall have any personal liability under this Agreement, or the <br />attached City/HOME-ARP Loan Note and City/HOME-ARP Loan Deed of Trust, and any <br />judgment, decree or order for the payment of money obtained in any action to enforce the <br />obligation of Developer to repay the City/HOME-ARP Loan or any other amount <br />evidenced or secured by such documents shall be enforceable against Developer only to <br />the extent of Developer’s interest in the Property. <br />20.5. Limited Partner Cure. The City shall provide the Developer’s Limited <br />Partner with an opportunity to cure any default. Any cure made or tendered by Limited <br />Partner shall be accepted as if made by Developer. <br />52 <br />WISEPlace Permanent Supportive Housing <br />City HOME-ARP Loan Agreement