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17. Severability. <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 />18. 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 />19. Non - recourse. <br />The Inclusionary Loan is a nomecourse obligation of the Borrower. Neither Borrower, <br />nor its partners nor any other party shall have any personal liability for repayment of the <br />Inclusionary Loan or for any other amounts under any of the documentation evidencing, securing <br />or describing the Inclusionary Loan. The sole recourse of City under this Note and the Deed of <br />Trust for repayment of the Inclusionary Loan and for such other amounts arising therefrom shall <br />be the exercise of its rights against the Property and related security thereunder. <br />20. Subordination. <br />It is hereby expressly agreed and acknowledged by Borrower and City that the Deed of <br />Trust is a subordinate deed of trust, and that this Note is subject and subordinate to any Senior <br />Deed of Trust. <br />21. Notice of Default. <br />a. Subject to the applicable cure periods set forth in Section 14 and subject to the further <br />provisions of this Section 21, failure or delay by the Borrower to perform any term or provision <br />of this Note constitutes a default under this Note. The Borrower must immediately commence to <br />cure, correct, or remedy such failure or delay and shall complete such cure, correction or remedy <br />with reasonable diligence. <br />b. The City shall give written notice of default to the Borrower specifying the default <br />complained of by the City. Delay in giving such notice shall not constitute a waiver of any <br />default nor shall it change the time of default. <br />C. Except in the case of a monetary event of default, the Borrower shall not be in <br />default so long as it endeavors to complete such tune, correction or remedy with reasonable <br />diligence, provided such tune, correction or remedy is completed within the applicable time <br />period set forth herein after receipt of written notice (or such additional time as may be deemed <br />by the City to be reasonably necessary to correct the default). <br />10 <br />M <br />