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Limited Partner shall have until 30 days following the effective date of such removal and <br />replacement to cure such Event of Default. <br />20.2 Remedies Upon Default. Upon the occurrence of any Event of Default, City may, <br />at its option and in its absolute discretion, do any or all of the following: <br />(a) By written notice to Developer, declare the principal of all amounts <br />owing under the Loan Documents, together with all accrued interest and other <br />amounts owing in connection therewith, to be immediately due and payable, <br />regardless of any other specified due date; provided that any Event of Default <br />described in Section 20.1 (e) shall automatically, without notice or other action on <br />City's part, cause all such amounts to be immediately due and payable; <br />(b) In its own right or by a court-appointed receiver, take possession of <br />the Property, enter into contracts for and otherwise proceed with the completion of <br />the construction 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 <br />performance and the right to foreclose on any security and exercise any other rights <br />with respect to any security, all in such order and manner as City elects in its sole <br />and absolute discretion; and, <br />(d) Suspend or terminate the award of Inclusionary Housing and CDBG <br />funds if Developer fails to 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, <br />nor invalidate any notice of default or any act done pursuant to any such notice, nor <br />prejudice the City in the exercise of any other right or remedy. No waiver of any default <br />shall be implied from any omission by City to take action on account of such default if <br />such default persists or is repeated. No waiver of any default shall affect any default other <br />than the default expressly waived, and any such waiver shall be operative only for the time <br />and to the extent stated. No waiver of any provision of any Loan Document shall be <br />construed as a waiver of any subsequent breach of the same provision. City's consent to or <br />approval of any act by Developer requiring further consent or approval shall not be deemed <br />to waive or render unnecessary City's consent to or approval of any subsequent act. The <br />City's acceptance of the late performance of any obligation shall not constitute a waiver by <br />City of the right to require prompt performance of all further obligations; City's acceptance <br />of any performance following the sending or filing of any notice of default shall not <br />constitute a waiver of either party's right to proceed with the exercise of its remedies for <br />any unfulfilled obligations; and City's acceptance of any partial performance shall not <br />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 />