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purs~~ing s~zch cure to completion. The party wl~o so fails ar delays ~~~rst itnn~ediately con~mence <br /> to cure, co~•rect, o~{ remedy s~~cll failu~•e or delay, a~~d shall complete s~~ch cl~re, carrectto~~ or <br /> remedy ~~ith diligence, Tl~ inj~~~•ed party shall give ~~ritfen notice of defa~~lt to the party in <br /> default, specifying the default eo~nplained of by tl~e i~~jured party. ~~cept as required to protect <br /> agai~~st fi~~~l~er damages, t~~e injured parfy may not i~~stit~rte pz~oceedi~~s against the party iii <br /> default until thi~~ty ~3a} days ae~# g~~~ng such ~lotlcc~ Failure or delay in giving sucl~ notice shall <br /> trot constitute a ~ai~er of arty default, Dior sl~all it cha~ie the tine of default, Not~~ithsta~idit~ <br /> the foregoi~~g~ far p~~rpases of acceleratian of the Ho~nebuyer Assistance Loa~~, payn~t~t of the <br /> dote Atriau~~t it~eludi~~g tl~e o~~ti~~get~t equity Participation Atna~~~7t, or i~~itiatior~ of foreclosure <br /> proceedings, tlle~•e shall be a disti~~ctio~~ between the types of default hereunder, including an <br /> ~~~~~~7ersh~p Default" a~ld ~ `~l~.alr~tet~ar~ce Default", <br /> 17,1 ~wne~;s~ii~~ l~e`aX~~~, The teem "~~~x~ersl~ip Default" ~eat~s tl~e fallu~•e of <br /> tl~e Homebuyer to pe~~fortr~ at~y action o~• co~et~ant required by tl~e Affordable Housing Resale <br /> Restriction related to o~~~~~e~•sl~~p, o~vr~er-occupancy, lien priority, and restrictio~~s on sale and <br /> ~•esale oftl~c P~•o~erty, subject to ~~otice and an oppo~~tx~~~ity to c~~re as set fot•th herei~~, A default <br /> of any obligation sec~~~•ed ley the first ~.ien shall be a cros~defa~~lt acid also constitute ate <br /> ~v~~~e~•hip Defa~~lt~ <br /> ~7,~ 1VIal~~~cnarlce ~efau~t. The terns "l~iai~~tet~a~~ce Default" ~~~eans tl~e <br /> failure of tl~e ~otnebuyer fa perform at~y action or co~enat~t req~~ired by tae Affordable Housi~~ <br /> Resale Restriction ~~elati~~ to "Maintenance De~ciet~cy~" ~ticludin tl~e ongoing upkeep, <br /> ~naintenance, and ~~se of the 1'raperty 1~1 ~ decent, safe, sanitatiy, clea~l, a~ld neig~~borly tnan~~e~•, <br /> subject to ~~ottce and a~~ opportunity to cure as set fot~ll lle~•ei~l ~a~xd expressly excl~~dir~g an <br /> O~vt~ership Defa~~lt}. <br /> ~8~ ~~~11[~iLS, The Age~icy sl~a~~ be entitled to all legal at~d equitable remedies <br /> a~ailabe under tl~e la~~ ~~pon tl~e defa~~lt aftl~e tr~r~s oftl~is Agree~~~et~t by tl~e Ho~r~ebuye~~. such <br /> remedies nay include, ~~itllo~~t llr~ltatlo~z, ~a~ specific performance of the terms of this <br /> Agreement, ~b~ disgorgement of ar~y amount of consideration recei~red for tl~e Propet•ty that <br /> exceeds an Affordable Ho~~sir~g host, andlo~i ~c~ a~~ order to pay attorneys' fees} a set far~l~ its <br /> ectio~~ ~a. <br /> Nn~~~ai~er, l~ailu~•e to exercise ar~y right tl~e Age~lcy nay l~a~e or be e~~titled to, <br /> in tl~e e~e~~t of default l~ereu~rder, shall x~ot constit~~te a ~~ai~er of such right o~~ any other right its <br /> the e~re~~t of a s~~bsequet~t defa~~lt. <br /> 2~, ~]acumelzts, The Homeb~~yer is a~~rare that tl~e Agency ha.s prepared certain <br /> documents to ln~plement the Program at~d secure repaytr~er~t of the Ho~neb~~yer Assistance 1_,oan, <br /> ~'l~e Homebuyer has ~•e~ie~ed and agrees to exec~~te tl~e follow~i~~g documents its s~~hstat~tially the <br /> farrr~ as attached hereto p~•ior to recei~i~~ tl~e Hot~eb~~yet• Assistance Laa~~, at~d any oilier <br /> docurne~its reasox~ably req~~ired by tl~~ Agency or a participating entity to complete tl~~ <br /> tia~~saction caiitei~np~ated herein; <br /> f <br /> ATTACH >~l~T ~ ~ 1 <br /> l~'ox~m of Hoirieb~iye~~ loan Agreement <br /> <br /> DOCS~~I~~~~i~3v1 12Q~~7~-~~~1 <br /> l <br /> <br />