1981-139 CRA - Laserfiche WebLink

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. . . . . . remaining principal of the Note, and the interest accrued thereon, and any related fees and other charges, to be due and payable inmediately, and upon any such declaration the same shall become and shall be inmediately due and payable, anything in this Resolution or in the Note contained to the contrary notwithstanding. This provision, h.owever, is subject to the condition that if, at any time after the principal of the Note shall have been so declared due and payable, and before any judgment or dec.ree for the payment .of the monies due and payable shall have been obtained or entered, there shall have been deposited with the N.oteholder a sum sufficient to pay all principal on the Note due prior to such declaration and all due and unpaid interest (if any) upon the Note, and any related fees and other charges and the reas.onable expenses .of the Agency and Noteholder, and any and all other defaults known to the Agency (other than in the payment of principal of and interest on the Note due and payable solely by reason of such declaration) shall have been made good or cured to the satisfaction of the Noteholder or provisi.on deemed by the Noteholder to be adequate shall have been made therefor, then, and in every such case, the Noteholder, by written notice t.o the Agency, may rescind and annul such declaration and its consequences. However, no such rescission and annulment shall extend to or shall affect any subsequent default, or shall impair or exhaust any right or power c.onsequent thereon. N.otwithstanding any other provision of this Section 7.01, upon an event .of default relating solely to a single L.oan, the N.oteholder shall be entitled to accelerate an amount of principal on the Note equal t.o the then outstanding principal balance .of the Promiss.ory Note relating to such loan, plus related interest, fees and other charges. Section 7.02. Application.of Funds Upon Acceleration. All money in the funds and accounts provided for in Section 3.02 and 4.02 upon the date of the declaration of acceleration by the Noteholder and all Revenues thereafter received by the Agency hereunder, shall be transmitted to the Noteholder and shall be applied by the Noteholder in a manner consistent with Sections 2.02 and 2.03. Section 7.03. Institution of Legal Proceedings by Bank. If one or more of the events .of default shall happen and be continuing, the Noteholder may proceed to protect or enforce its rights under the Act or under this Resolution by a suit in equity or action at law, either for the specific performance of any covenant or agreement contained herein, or in aid of the execution of any power herein granted, or by mandamus or other appropriate proceeding for the enforcement of any other legal or equitable remedy as the Noteholder shall deem most effectual in support of any.of its rights or duties hereunder. Section 7.04. Effect of Delay or Omission to Pursue Remedy. No delay or omission of the Noteholder to exercise any right or power arising from any default shall impair any such right or power or shall be construed t.o be a waiver of any such default or acquiescence therein, and every power and remedy 15