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(a) By written notice to Developer, declare the principal of all amounts owing <br />under the Loan Documents, together with all accrued interest and other amounts owing in <br />connection therewith, to be immediately due and payable, regardless of any other specified due <br />date; provided that any Event of Default described in Section 20.1 (e) shall automatically, <br />without notice or other action on City's part, cause all such amounts to be immediately due and <br />payable; <br />(b) In its own right or by a court- appointed receiver, take possession of the <br />Property, enter into contracts for and otherwise proceed with the completion of the construction <br />by expenditure of its own funds; <br />(c) Exercise any of its rights under the Loan Documents and any rights <br />provided by law, including, without limitation, the right to seek specific performance and the <br />right to foreclose on any security and exercise any other rights with respect to any security, all in <br />such order and manner as City elects in its sole and absolute discretion; and, <br />(d) Suspend or terminate the award of Inclusionary funds if Developer fails to <br />comply with any term of such award. <br />20.3 Cumulative Remedies: No Waiver. City's rights and remedies under the Loan <br />Documents are cumulative and in addition to all rights and remedies provided by law. The <br />exercise by City of any right or remedy shall not constitute a cure or waiver of any default, nor <br />invalidate any notice of default or any act done pursuant to any such notice, nor prejudice the <br />City in the exercise of any other right or remedy. No waiver of any default shall be implied from <br />any omission by City to take action on account of such default if such default persists or is <br />repeated. No waiver of any default shall affect any default other than the default expressly <br />waived, and any such waiver shall be operative only for the time and to the extent stated. No <br />waiver of any provision of any Loan Document shall be construed as a waiver of any subsequent <br />breach of the same provision. City's consent to or approval of any act by Developer requiring <br />further consent or approval shall not be deemed to waive or render unnecessary City's consent to <br />or approval of any subsequent act. The City's acceptance of the late performance of any <br />obligation shall not constitute a waiver by City of the right to require prompt performance of all <br />further obligations; City's acceptance of any performance following the sending or filing of any <br />notice of default shall not constitute a waiver of either party's right to proceed with the exercise <br />of its remedies for any unfulfilled obligations; and City's acceptance of any partial performance <br />shall not constitute a waiver by City of any rights. <br />21. MISCELLANEOUS <br />21.1 Obligations Unconditional and Independent. Notwithstanding the existence at <br />any time of any obligation or liability of City to Developer, or any other claim by developer <br />against City, in connection with the Loan or otherwise, Developer hereby waives any right it <br />might otherwise have (a) to offset any such obligation, liability or claim against Developer's <br />obligations under the Loan Documents, or (b) to claim that the existence of any such outstanding <br />obligation, liability or claim excuses the nonperformance by Developer of any of its obligations <br />under the Loan Documents. <br />37 <br />• M <br />