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unless: (f) in the case of a Sale in winch the eSale Proceeds are insufficient to repay in Rill the City Loam, the City apprnves such sale and the purehascr assunates the balance of the City Loin in accordance with the terms of this Note; or (ii) in the case of a Refinancing in which the Refinancing Proceeds are fnsufticient to repay in full the City Loan, the City approves inch Refinancing and the Borrower remains obligated pursuant to the terms of this Note; la. In evem of default (sul�leut to any applicable notice and cure, provisions) pursuant to any of the Loan Documents or the Senior Loan Documents. c: Any default (su[?Icot to any applicable notice and cure provisions by Borrower as to any other loan or loans by City to Borrower with respect to -the Property; or d. The date that is fifty live (55) years after the date of execution of this bete. On that date, the City agrees to review the performance of the Property and _conslder in good faith any reasonable request. by Borrower to modify the terms or extend the Term of this City Note . p, preninlisent Borrower may propay the outstanding principal balance; under this Note, in whole or in part, at any time without penalty, however the Affordability Restrictions on Transfer orProperty still remain for the entire Affordability Period of fifty-five (55) Years. to, Lawful Moll , Principal is payable in lawful stoney of trio United States of America. M App lica lWin of Pavments Late +Charge4. a. Any payments revolved by the City pursuant to the tet'nis hereof shall be applied first to sums, other than principal, due the City pursuant to this Note, and the balaicc, it any; to the payment of principal. b. Many payment is not received by the City witJairi fifteen (15) Business Days after Developer's receipt of written notice that such payment was not received when duc, then in addition to the retncdies conferred upon the City pursuant to this Note and the other loan Documents, (i) a Into charge of four percent (4%) of the amount due and unpaid will be added in the delinquent amount to coaipensato the Chy for the expense of handling (Io dolincluency and (ii) the atnount clue* and unpaid, excluding the late cLarge; shall bear interest at the highest annual rate which may 1awtiilly be ch r d and collected under applicable law on the obligation evidenced by= this Note, computed from the date on which the amount was due and payable -until paid. Without prejudice to the riglits of the City hereunder or under any - of'the other loan fiuouments, Harrower shall iadouinity the City against, and shall pay the City on deniand; any expense or loss Willett it niay sustain or incur as a result of the failure by Borrower to pay when dine any installment of principal, fees, or other amounts payable to the City under this Note or any other Loran Document, to the extant that tiny such expense or loss is not recovered pursuant to such foregoing provnstans. A certific atc of the City setting forth the basis for the determination of the amounts rrecessary` to indemnify the City in respect of such expenses or direct loss, submitted to Bon ower by the City, shall Lie conclusive and binding for all purposes except as €inruediattely corrected by Borrower notice to City, L 0?615 3%B893 94. 1 25B -71