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DRAFT <br /> 14. Remedies. Upon the occurrence of a Default, the giving of notice thereof and the <br /> expiration of any applicable cure period, City may, at its option, exercise any one or more of the <br /> following remedies: <br /> a. Declare all of the sums payable under the Note to be immediately due and <br /> payable without further demand. <br /> b. Pursue the exercise of the power of sale provided under this Deed of Trust. <br /> C. Either in person or by agent, with or without bringing any action or <br /> proceeding, or by a receiver appointed by a court, enter upon, take possession thereof(or any part <br /> thereof) and of any of the Security, in its own name or in the Fame of Trustee, and do any acts <br /> which it deems necessary or desirable to preserve the value or marketability of the Property, or <br /> part thereof or interest therein, increase the income therefrom, or protect the security thereof, The <br /> entering upon and taking possession of the Security shall not cure or waive any breach hereunder <br /> or invalidate any act done in response to such breach and, notwithstanding the continuance in <br /> possession of the Security, the City shall be entitled to exercise every right and remedy provided <br /> under the Note,this Deed of Trust, or the Affordable Housing Resale Restrictions, or by law upon <br /> occurrence of any uncured breach. <br /> d. Commence an action to foreclose this Deed of Trust as a mortgage, appoint <br /> a receiver,or specifically enforce any of the covenants hereof.'' <br /> e. Exercise any option to purchase the Property,',as authorized pursuant to the <br /> Affordable Housing Resale Restrictions. <br /> f Exercise all other rights and remedies provided herein, in the instruments <br /> by which the Trustor acquires title to any.Security,or in any other document or agreement now or <br /> hereafter evidencing,creating or securing all or any.portion of the obligations secured hereby. <br /> g. Exercise any other remedy provided by law or in equity. <br /> 15. Acceleration and Sale. <br /> a. Notice of Default. Upon Trustor's breach of any covenant or agreement of <br /> Trustor under the Note, the Affordable Housing Resale Restrictions or this Deed of Trust, City <br /> shall mail notice to Trustor as provided in Section 24 hereof specifying; (i)the nature of the breach; <br /> (ii) the action required to cure such breach; (iii) a date no less than thirty(30) days from the date <br /> the notice is mailed to Trustor by which such breach must be cured or such shorter cure period as <br /> may be provided in the Note, the Affordable Housing Resale Restrictions or this Deed of Trust; <br /> and(iv)that failure to cure such breach on or before the date specified in the notice may result in <br /> acceleration of the Loan and the sale of the Property. The notice shall further inform Trustor of <br /> Trustor's right to reinstate after acceleration and the right to bring a court action to assert the <br /> nonexistence of a default or any other defense of Trustor to acceleration and sale. If the breach is <br /> not cured on or before the date specified in the notice, City at City's option declare all of the sums <br /> secured by this Deed of Trust to be immediately due and payable without further demand and may <br /> invoke the power of sale and/or pursue any other remedy provided herein or available under law. <br /> i <br /> Page 56 <br /> Exhibit D <br /> 55394.0010 1\43423340.1 <br /> i <br />