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Trustee shall cause to be duly filed for record and City may foreclose on the City Deed of Trust. <br />City shall also deposit with Trustee the Deed of Trust, this Note and all documents evidencing <br />expenditures secured thereby and evidenced hereby. Upon the occurrence of an Event of Default <br />(and so long as such Event of Default shall continue), the entire balance of principal together <br />with all accrued interest shall bear interest at the Bank of America reference rate on the due date <br />of the delinquent payment plus four percent (4%). No delay or omission on the part of the City in <br />exercising any right under this Note or under any of the other Loan Documents shall operate as a <br />waiver of such right. <br />18. Attorneys' Fees. <br />If this City Loan Note is not paid when due or if any Event of Default occurs, Borrower <br />promises to pay all costs of enforcement and collection, including but not limited to, reasonable <br />attorneys' fees, whether or not any action or proceeding is brought to enforce the provisions <br />hereof. <br />19. Severabilitv. <br />Every provision of this Note is intended to be severable. In the event any term or <br />provision hereof is declared by a court of competent jurisdiction, to be illegal or invalid for any <br />reason whatsoever, such illegality or invalidity shall not affect the balance of the terms and <br />provisions hereof, which terms and provisions shall remain binding and enforceable. <br />20. Number and Gender. <br />In this Note the singular shall include the plural and the masculine shall include the <br />feminine and neuter gender, and vice versa, if the context so requires. <br />21. Non-recourse. <br />The City Loan is a nonrecourse obligation of the Borrower. Neither Borrower nor any <br />other party shall have any personal liability for repayment of the City Loan or for any other <br />amounts under any of the documentation evidencing, securing or describing the City Loan. The <br />sole recourse of City under this Note and the Deed of Trust for repayment of the City Loan and <br />for such other amounts arising therefrom shall be the exercise of its rights against the Property <br />and related security thereunder. <br />22. Subordination. <br />It is hereby expressly agreed and acknowledged by Borrower and City that the City Deed <br />of Trust is a subordinate deed of trust, and that this Note is subject and subordinate to the Senior <br />Loan Deed of Trust held by Citibank, N.A. <br />23. Notice of Default. <br />25B-59 <br />