Common use of Remedies Conferred Upon Lender Clause in Contracts

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuing, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (d) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, including without limitation the filing, by Borrower, of a voluntary petition under Chapter 11 of the United States Bankruptcy Code, Lender may shall have the right (but not the obligation) to pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of all such remedies shall be cumulative and that no such remedy shall be to the exclusion of any other: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable; (cb) Use and apply any monies or letters of credit deposited by any Borrower with Lender, including amounts in the Escrow Account, regardless of the purposes purpose for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (dc) Exercise or pursue any other right or remedy or cause of action permitted under this Agreement or any other of the Loan Documents, Documents or conferred upon or available to Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of at law or in equity or otherwise; and (d) To correct any such Event of Default under Section 14(d)in such manner and to such extent as Lender may deem necessary to protect the security hereof, all amounts evidenced by the Note shall automatically become due and payableincluding, without limitation, the right (but not the obligation) to appear in and defend any presentmentaction or proceeding purporting to affect the security hereof or the rights or powers of Lender, demandand also the right (but not the obligation) to perform and discharge each and every obligation, protest covenant, condition and agreement of Borrower under the Service Agreements and the Permits. Lender shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty or liability under any of the Service Agreements nor any of the Permits, or by reason of this Agreement, unless or until Lender exercises its rights hereunder. Lender may, at its option, upon written notice to the appropriate Consenting Party in the case of a Service Agreement, exercise any kind or all of the rights and remedies granted to BorrowersBorrower under any Service Agreement or Permit, including any right or remedy with respect to the Consenting Party in question in the case of a Service Agreement, as if Lender had been an original party to such Service Agreement or the permittee under the Permit. After an Event of Default, upon giving such notice to any Consenting Party with respect to a Service Agreement, Lender may elect to assume all obligations of Borrower under any Service Agreement between Borrower and the Consenting Party or with respect to any Permit; but in any case Lender shall not be responsible for any default of Borrower under the Service Agreement occurring prior to the time Lender gives such notice to the Consenting Party or assumes the obligations under any Permit. Each Consenting Party is hereby authorized by Borrower to perform its obligations under the Service Agreements to which it is a party for the benefit of Lender without any obligation to determine whether or not an Event of Default has in fact occurred.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, including without limitation the filing, by Borrower, of a voluntary petition under Chapter 11 of the Bankruptcy Code, Lender may shall have the right (but not the obligation) to pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of all such remedies shall be cumulative and that no such remedy shall be to the exclusion of any other: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable; (cb) Use and apply any monies or letters of credit deposited by any Borrower with Lender, including amounts in the Escrow Account, regardless of the purposes purpose for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (dc) Exercise or pursue any other right or remedy or cause of action permitted under this Agreement or any other of the Loan Documents, Documents or conferred upon or available to Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of at law or in equity or otherwise; and (d) To correct any such Event of Default under Section 14(d)in such manner and to such extent as Lender may deem necessary to protect the security hereof, all amounts evidenced by the Note shall automatically become due and payableincluding, without limitation, the right (but not the obligation) to appear in and defend any presentmentaction or proceeding purporting to affect the security hereof or the rights or powers of Lender, demandand also the right (but not the obligation) to perform and discharge each and every obligation, protest covenant, condition and agreement of Borrower under the Service Agreements and the Permits. Lender shall not be obligated to perform or discharge, nor does it hereby undertake to perform or discharge, any obligation, duty or liability under any of the Service Agreements nor any of the Permits, or by reason of this Agreement, unless or until Lender exercises its rights hereunder. Lender may, at its option, upon written notice to the appropriate Consenting Party in the case of a Service Agreement, exercise any kind or all of the rights and remedies granted to BorrowersBorrower under any Service Agreement or Permit, including any right or remedy with respect to the Consenting Party in question in the case of a Service Agreement, as if Lender had been an original party to such Service Agreement or the permittee under the Permit. After an Event of Default, upon giving such notice to any Consenting Party with respect to a Service Agreement, Lender may elect to assume all obligations of Borrower under any Service Agreement between Borrower and the Consenting Party or with respect to any Permit; but in any case Lender shall not be responsible for any default of Borrower under the Service Agreement occurring prior to the time Lender gives such notice to the Consenting Party or assumes the obligations under any Permit. Each Consenting Party is hereby authorized by Borrower to perform its obligations under the Service Agreements to which it is a party for the benefit of Lender without any obligation to determine whether or not an Event of Default has in fact occurred.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may may, without notice, pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let Enforce any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens Liens or security interests, or to avoid such bills and claims becoming liens against interests under the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revokedSecurity Documents; (b) Declare the Note to be immediately due and payable; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (d) Terminate the Commitment or declare the Obligations or any part thereof to be immediately due and payable, or both, and the same shall thereupon become immediately due and payable, without notice, demand, presentment, notice of dishonor, notice of acceleration, notice of intent to accelerate, notice of intent to demand, protest, or other formalities of any kind, all of which are hereby expressly waived by Borrower. (e) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d15.1(d), (e), (o), (p) or (q) with respect to Borrower or the Bank, the Commitment shall automatically terminate and all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower, all of which are hereby expressly waived by Borrower. In addition to the foregoing, if any Event of Default shall occur and be continuing, Lender may exercise all rights and remedies available to it in law or in equity, under the Loan Documents, or otherwise.

Remedies Conferred Upon Lender. Upon During the occurrence continuance of any Event of Default that is continuingunder this Agreement, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession Withhold further disbursement of the Projects Loan Proceeds and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under terminate any of the bonds its obligations to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revokedBorrowers; (b) Declare the Note to be immediately due and payablepayable forthwith, without presentment, demand, protest or other notice of any kind, all of which Borrowers hereby expressly waive; (c) Use In addition to any rights of setoff that Lender may have under applicable law, without notice of any kind to Borrowers, appropriate and apply any monies or letters of credit deposited by any Borrower with Lender, regardless to the payment of the purposes for which the same was deposited, to cure any such default Note or to apply on account of any indebtedness sums due under this Agreement which is due any and owing to all balances, deposits, credits, accounts, certificates of deposit, instruments or money of any Borrower then or thereafter in the possession of Lender; (d) Exercise all of the rights of a secured party under the Code; (e) Exercise collection remedies against Account Debtors directly or through the use of collection agencies and other collection specialists; (f) Instruct Borrowers, at their own expense, to notify any parties obligated on any of the Collateral, including any Account Debtors, to make payment directly to Lender of any amounts due or to become due thereunder, or Lender may directly notify such obligors of the security interest of Lender, or of the assignment to Lender of the Collateral and direct such obligors to make payment to Lender of any amounts due or to become due with respect thereto, and thereafter, collect any such amounts due on the Collateral directly from such persons obligated thereon; (g) Enforce collection of any of the Collateral, including any Accounts, by suit or otherwise, or make any compromise or settlement with respect to any of the Collateral, or surrender, release or exchange all or any part thereof, or compromise, extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder; or (h) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, enforcement of all Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may Agent may, and at the request of the Required Lenders shall, pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the Construction and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender Agent its lawful attorney-in-fact with full power of substitution in the Projects Project to complete the Construction in the name of Borrower; to use unadvanced funds remaining under the Notes or which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Notes, to complete the Construction; to make changes in the Plans and Specifications which shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it deems necessary under any of the bonds Bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate Lender’s obligations to make further disbursements hereunder; (c) Declare the Note Notes to be immediately due and payable; (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (de) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d)19.1(h) with respect to the Borrower, all amounts evidenced by the Note Notes shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact attorney‑in‑fact with full power of substitution in the Projects Project to use unadvanced funds which may be reserved, escrowed or set aside for any purposes hereunder at any time; to pay, settle or compromise all existing bills and claims, claims which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender;; and (d) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d)Article 12(e) or (f) with respect to Borrower, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower.

Remedies Conferred Upon Lender. Upon During the occurrence continuance of any Event of Default that is continuingunder this Agreement, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note, the Mortgages and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of any one or more of the Projects and do anything which is required, necessary or appropriate advisable in its Lender’s sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documentshereunder, including either the right to avail itself of and procure performance of existing contracts or let employ watchmen to protect any contracts with the same contractors or othersProject from injury. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects premises to perform the following actions: (i) without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, claims which may be liens or security interestsliens, or to avoid such bills and claims becoming liens liens, against its Project or any portion thereof or as may be necessary or desirable for the Projects; completion of any construction and equipping of such Project or for the clearance of title to execute all applications and certificates in the name of each Borrower such Project; (ii) to prosecute and defend all actions or proceedings in connection with the Improvements or the Projectsany Project; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and and (iii) to do any and every act which any such Borrower might do in its own behalf; behalf with respect to its Project, it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of Loan Proceeds and terminate any of its obligations to Borrowers; (c) Declare the Note to be immediately due and payable; (c) Use and apply any monies payable forthwith, without presentment, demand, protest or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account other notice of any indebtedness under this Agreement kind, all of which is due and owing to LenderBorrowers hereby expressly waive; (d) In addition to any rights of setoff that Lender may have under applicable law, without notice of any kind to Borrowers, appropriate and apply to the payment of the Note or of any sums due under this Agreement any and all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrowers then or thereafter in the possession of Lender; and (e) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, foreclosure of the Mortgages and enforcement of all Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Promissory Note, the Mortgage and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Premises and complete the construction and equipping of the Project and do anything which is required, necessary or appropriate advisable in its Lender’s sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan DocumentsBorrower hereunder, including either the right rights to avail itself of and or procure performance of existing contracts or Construction Contracts, to let any contracts with the same contractors contractors, subcontractors or othersothers and to employ watchmen to protect the Premises from injury. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its as Borrower’s lawful attorney-in-fact with full power of substitution in the Projects premises to perform the following actions: (i) to complete construction of the Project in the name of Borrower; (ii) to use unadvanced Loan Proceeds or to advance funds in excess of the face amount of the Promissory Note to complete the Project; (iii) to make changes in the Plans and Specifications which shall be necessary to complete the Project; (iv) to retain or employ new contractors, subcontractors, architects, engineers and inspectors; (v) without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, claims which may be liens or security interestsliens, or to avoid such bills and claims becoming liens liens, against the Projects; Premises or any portion of the Premises or as may be necessary or desirable for the completion of the construction and equipping of the Project or for the clearance of title to execute all applications and certificates in the name of each Borrower Premises; (vi) to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; Premises; (vii) to take action and require such performance as it Lender deems necessary or advisable under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and and (viii) to do any and every act which any Borrower might do in its own behalf; behalf with respect to the Premises, it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (d) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence and during the continuance of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project to pay, settle use unadvanced funds remaining under the Note or compromise all existing bills and claims, which may be liens reserved, escrowed or security interestsset aside for any purposes hereunder at any time, or to avoid such bills and claims becoming liens against advance funds in excess of the Projects; face amount of the Note, to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate Lender’s obligations to make further disbursements hereunder; (c) Declare the Note to be immediately due and payable; (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender;; and (de) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d)19.1(h) with respect to Borrower, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender, in addition to all remedies conferred upon Lender by Law and by the terms of the Note, the Mortgage and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable;payable forthwith, without presentment, demand, protest or other notice or action of any kind, all of which are hereby expressly waived. (b) In addition to any rights of set-off that Lender may have under applicable Law, Lender may, without notice of any kind to Borrower, appropriate and apply to the payment of the Note or of any sums due under this Agreement, any and all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender, or its Affiliates. Borrower hereby irrevocably authorizes and directs Lender from time to time to charge Borrower’s accounts and deposits with Lender (or its Affiliates), and to pay over to Lender an amount equal to any amounts from time to time due and payable to Lender hereunder, under the Note or under any other Loan Document. Borrower hereby grants to Lender a security interest in and to all such accounts and deposits maintained by the Borrower with Lender (or its Affiliates). (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (d) Exercise or pursue any other remedy or cause of action permitted at Law or at equity or under this Agreement or any other Loan Document, including but not limited to foreclosure of the Mortgage and enforcement of all Loan Documents. (d) With or without entry upon the Land, or cause construction of any Tenant Improvements to be completed. Lender, for such purpose, may use all available materials and equipment located upon the Land and purchase all other necessary materials and employ contractors and other employees. All sums expended by Lender for such purpose shall constitute disbursements pursuant hereto and shall be secured by the Mortgage and other Loan Documents and shall forthwith be due and payable by Borrower to Lender with interest thereon at the Default Rate. The authority and agency conferred hereby upon Lender by operation of Law. Notwithstanding shall be deemed to create a power coupled with an interest and shall be irrevocable. (e) Have the foregoingProject appraised, upon at Borrower’s cost. (f) Cause an environmental assessment to be conducted on the occurrence of any Event of Default under Section 14(d)Project, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowersat Borrower’s cost.

Remedies Conferred Upon Lender. Upon Lender’s rights, remedies and powers, as provided herein and the other Loan Documents, are cumulative and concurrent, and may be pursued singly, successively or together against Borrower, Guarantor, the security described in the Loan Documents, and any other security given at any time to secure the payment hereof, all at the sole and absolute discretion of Lender, it being the intent hereof that none of such rights, remedies or powers shall be to the exclusion of any other. Additionally, Lender may resort to every other right or remedy available at Law or in equity without first exhausting the rights and remedies contained herein, all in Lender’s sole and absolute discretion. Failure of Lender, for any period of time or on more than one occasion, to exercise its option to accelerate the Maturity Date shall not constitute a waiver of the right to exercise the same at any time during the continued existence of any Event of Default or any subsequent Event of Default. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional Indebtedness evidenced by the Note and secured by the Security Instrument and the other Loan Documents and shall bear interest at a rate per annum equal to the Interest Rate (or Default Rate following an Event of Default). In addition, at any time after the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherremedies: (a) Take possession of the Projects Project and do anything which that is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project to use any portion of the Loan which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to pay, settle or compromise all existing and future bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note or the Indebtedness to be immediately due and payable, and further provided that upon the occurrence of any Event of Default under Section 7.1(f) all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrower; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness Indebtedness under this Agreement which is due and owing to Lender;; and (d) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Xxxxxx, in addition to all remedies conferred upon Lender by Law and by the terms of the Note, the Mortgage and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable;payable forthwith, without presentment, demand, protest or other notice or action of any kind, all of which are hereby expressly waived. (b) In addition to any rights of set off that Lender may have under applicable Law, Lender may, without notice of any kind to Borrower, appropriate and apply to the payment of the Note or of any sums due under this Agreement, any and all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender, or its Affiliates. Borrower hereby irrevocably authorizes and directs Lender from time to time to charge Xxxxxxxx’s accounts and deposits with Lender (or its Affiliates), and to pay over to Lender an amount equal to any amounts from time to time due and payable to Lender hereunder, under the Note or under any other Loan Document. Borrower hereby grants to Lender a security interest in and to all such accounts and deposits maintained by the Borrower with Lender (or its Affiliates). (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (d) Exercise or pursue any other remedy or cause of action permitted at Law or at equity or under this Agreement or any other Loan Document, including but not limited to foreclosure of the Mortgage and enforcement of all Loan Documents. (d) Have the Property appraised, or conferred upon Lender by operation of Law. Notwithstanding at Xxxxxxxx’s cost. (e) Cause an environmental assessment to be conducted on the foregoingProperty, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowersat Xxxxxxxx’s cost.

Remedies Conferred Upon Lender. Upon During the occurrence continuance of any Event of Default that is continuingunder this Agreement, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note, the Mortgage and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Project and do anything which is required, necessary or appropriate advisable in its Lender’s sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan DocumentsBorrower hereunder, including either the right rights to avail itself of and procure performance of existing contracts or let any contracts with employ watchmen to protect the same contractors or othersProject from injury. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its as Borrower’s lawful attorney-in-fact with full power of substitution in the Projects premises to perform the following actions: (i) without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, claims which may be liens or security interestsliens, or to avoid such bills and claims becoming liens liens, against the Projects; Project or any portion of the Project or as may be necessary or desirable for the completion of the construction and equipping of the Project or for the clearance of title to execute all applications and certificates in the name of each Borrower Project; (ii) to prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and and (iii) to do any and every act which any Borrower might do in its own behalf; behalf with respect to the Project, it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of Loan Proceeds and terminate any of its obligations to Borrower; (c) Declare the Note to be immediately due and payable; (c) Use and apply any monies payable forthwith, without presentment, demand, protest or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account other notice of any indebtedness under this Agreement kind, all of which is due and owing to LenderBorrower hereby expressly waives; (d) In addition to any rights of setoff that Lender may have under applicable law, without notice of any kind to Borrower, appropriate and apply to the payment of the Note or of any sums due under this Agreement any and all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender; and (e) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, foreclosure of the Mortgage and enforcement of all Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Property and complete the Construction and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution to complete the Construction in the Projects name of Borrower; to use unadvanced funds remaining under the Note or which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to complete the Construction; to make changes in the Plans and Specifications which shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProperty; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsImprovements; to take action and require such performance as it deems necessary under any of the bonds Bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate Lender’s obligations to make further disbursements hereunder; (c) Declare the Note to be immediately due and payable; (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default Event of Default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (de) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d14.1(j), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower.

Remedies Conferred Upon Lender. Upon Lender's rights, remedies and powers, as provided herein and the other Loan Documents, are cumulative and concurrent, and may be pursued singly, successively or together against Borrower, Guarantor, the security described in the Loan Documents, and any other security given at any time to secure the payment hereof, all at the sole and absolute discretion of Lender, it being the intent hereof that none of such rights, remedies or powers shall be to the exclusion of any other. Additionally, Lender may resort to every other right or remedy available at Law or in equity without first exhausting the rights and remedies contained herein, all in Lender's sole and absolute discretion. Failure of Lender, for any period of time or on more than one occasion, to exercise its option to accelerate the Maturity Date shall not constitute a waiver of the right to exercise the same at any time during the continued existence of any Event of Default or any subsequent Event of Default. In the event that Borrower fails to perform any of Borrower's covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional Indebtedness evidenced by the Note and secured by the Security Instrument and the other Loan Documents and shall bear interest at a rate per annum equal to the Interest Rate (or Default Rate following an Event of Default). In addition, at any time after the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherremedies: (a) Take possession of the Projects Project and do anything which that is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project to use any portion of the Loan which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to pay, settle or compromise all existing and future bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note or the Indebtedness to be immediately due and payable, and further provided that upon the occurrence of any Event of Default under Section 7.1(f) all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrower; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness Indebtedness under this Agreement which is due and owing to Lender;; and (d) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuing------------------------------ Default, Lender may shall, in addition to all remedies conferred upon Lender by law and by the terms of the Note, the Mortgage and the other Loan Documents, have the right but not the obligation to pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of all such remedies shall be cumulative and that no such remedy shall be to the exclusion of any other: (a) Take possession of the Projects and do anything which any action whatever which, in Lender's sole judgment, is necessary or appropriate in its sole judgment to fulfill the covenants, agreements and obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to (i) avail itself of and procure performance of existing contracts or and subcontracts, and (ii) let any contracts with the same contractors and subcontractors or othersothers and to employ watchmen to protect the Property from injury. Without restricting the generality of the foregoing foregoing, and for the purposes purpose aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact fact, coupled with an interest and with full power of substitution in the Projects Property, and agrees that Lender shall be entitled to (A) use unadvanced funds which may be reserved, escrowed or set aside for any purpose whatever at any time, to perform obligations that Borrower shall have failed to perform, (B) advance funds in excess of the face amount of the Note, (C) retain or employ such project developers, construction managers, general contractors, subcontractors, architects, engineers and inspectors as may be required for such purposes, (D) pay, settle or compromise all existing bills and claims, claims the non-payment of which may be might result in liens or security interestsinterests on the Property, or to avoid prevent such bills and claims becoming from resulting in liens against the Projects; to Property or security interests against fixtures, furnishings, furniture or equipment or other property, or as may be necessary or desirable for performing any repairs or other work upon the Property, equipping and furnishing of the Property, or for the clearance of title, (E) execute all applications and certificates in which may be required by any of the name of each Borrower Loan Documents, (F) prosecute and defend all actions or proceedings in connection connected with or relating to the Improvements or the Projects; to Property, (G) take such action and require such performance as it Lender deems necessary under any of the payment or performance bonds to be furnished hereunder under this Agreement, and to make settlements and compromises with the surety or sureties thereunder, and and, in connection therewith, to execute instruments of release and satisfaction; , (H) take possession of and to operate the Property, and (I) do any and every act which any Borrower borrower might do in its own behalf; it being understood and agreed that this the foregoing power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note and the entire Indebtedness (including without limitation all accrued and unpaid Contract Rate Interest and Additional Accrued Interest and all principal) to be immediately due and payable; (c) Use and apply any monies or letters of credit in the Bank Accounts and any monies deposited by any Borrower with Lender, regardless of the purposes purpose for which the same was deposited, deposited to cure any such default or to apply on account of any indebtedness Indebtedness under this Agreement which is due and owing to Lender;; and (d) Exercise or pursue any other right or remedy or cause of action permitted under this Agreement or any other Loan Documents, Document or conferred upon Lender by operation of Law. Notwithstanding law, including without limitation, the foregoing, upon remedies of foreclosure and/or appointment of a receiver in accordance with the occurrence terms of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest Mortgage or notice of any kind as otherwise permitted pursuant to Borrowersapplicable law.

Remedies Conferred Upon Lender. Upon the occurrence and during the continuance of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the Construction and do anything which that is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project to complete the Construction in the name of Borrower; to use unadvanced funds remaining under the Note or that may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to complete the Construction; to make changes in the Plans and Specifications that shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claims, which claims that may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any that Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate Lender’s obligations to make further disbursements hereunder; (c) Declare the Note to be immediately due and payable; (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which that is due and owing to Lender; (de) Fund proceeds of the Loan to Guarantor to complete the Project (if Guarantor is entitled to receive such proceeds under the Completion and Carveout Guaranty or Lender otherwise elects to fund such proceeds to Guarantor), and in such event such proceeds shall be considered disbursements of the Loan, whether or not requested by Borrower (Borrower’s authorization of such disbursements being deemed given hereby); (f) Assess interest on all amounts outstanding under the Note at the Default Rate; and (g) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d)19.1(g) with respect to Borrower, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower.

Remedies Conferred Upon Lender. Upon During the occurrence continuance of any Event of Default that is continuingunder this Agreement, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note, the Deed to Secure Debt and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Project and do anything which is required, necessary or appropriate advisable in its Lender’s sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan DocumentsBorrower hereunder, including either the right rights to avail itself of and procure performance of existing contracts or let any contracts with employ watchmen to protect the same contractors or othersProject from injury. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its as Borrower’s lawful attorney-in-fact with full power of substitution in the Projects premises to perform the following actions: (i) without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, claims which may be liens or security interestsliens, or to avoid such bills and claims becoming liens liens, against the Projects; Project or any portion of the Project or as may be necessary or desirable for the completion of the construction and equipping of the Project or for the clearance of title to execute all applications and certificates in the name of each Borrower Project; (ii) to prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and and (iii) to do any and every act which any Borrower might do in its own behalf; behalf with respect to the Project, it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of Loan Proceeds and terminate any of its obligations to Borrower; (c) Declare the Note to be immediately due and payable; (c) Use and apply any monies payable forthwith, without presentment, demand, protest or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account other notice of any indebtedness under this Agreement kind, all of which is due and owing to LenderBorrower hereby expressly waives; (d) In addition to any rights of setoff that Lender may have under applicable law, without notice of any kind to Borrower, appropriate and apply to the payment of the Note or of any sums due under this Agreement any and all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender; and (e) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, foreclosure of the Deed to Secure Debt and enforcement of all Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event Default, Lender, in addition to all remedies conferred upon Lender by law and by the terms of Default that is continuingthe Loan Documents, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Project and complete the construction and equipping thereof and do anything which is required, necessary or appropriate advisable in its Lender's sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan DocumentsObligors hereunder, including either the right rights to avail itself of and or procure performance of existing contracts or any of the Subcontracts, to let any contracts with the same contractors contractors, subcontractors or others, and to employ watchmen to protect the Project from injury. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower the Obligors hereby appoints authorize Lender in Lender's own name and constitutes the Obligors hereby appoint and constitute Lender its as their lawful attorney-in-fact with full power of substitution in the Projects premises to perform any or all of the following actions: to complete construction of the Project in the name of Borrower; to use unadvanced Loan proceeds or to advance funds in excess of the face amount of the Note to complete the Project; to make changes in the Plans that are necessary or desirable to complete the Project; to retain or employ new contractors, subcontractors, architects, engineers and inspectors; without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, which claims that may be liens against the Project or security interestsany portion thereof, or as may be necessary or desirable for the completion of the construction and equipping of the Project or for the clearance of title to avoid such bills and claims becoming liens against the ProjectsLand; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it Lender deems necessary or advisable under any of the bonds bonds, if any, to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and and, in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any that Borrower might do in its own behalf; it behalf and with respect to the Project, such appointment as attorney-in-fact being understood and agreed that this power of attorney shall be a power coupled with an interest and canthat can not be revoked;. (b) Withhold further disbursement of the Loan proceeds and terminate any of Lender's obligations to the Obligors. (c) Declare the Note to be immediately due and payable; (c) Use and apply any monies payable forth with, without presentment, demand, protest or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account other notice of any indebtedness under this Agreement kind, all of which is due and owing to Lender;are hereby expressly waived. (d) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any of the other Loan Documents, or conferred upon Lender by operation including without limitation foreclosure of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersMortgage.

Remedies Conferred Upon Lender. Upon Lender’s rights, remedies and powers, as provided herein and the other Loan Documents, are cumulative and concurrent, and may be pursued singly, successively or together against Borrower, any Guarantor, the security described in the Loan Documents, and any other security given at any time to secure the payment hereof, all at the sole and absolute discretion of Lender, it being the intent hereof that none of such rights, remedies or powers shall be to the exclusion of any other. Additionally, Lender may resort to every other right or remedy available at Law or in equity without first exhausting the rights and remedies contained herein, all in Lender’s sole and absolute discretion. Failure of Lender, for any period of time or on more than one occasion, to exercise its option to accelerate the Maturity Date shall not constitute a waiver of the right to exercise the same at any time during the continued existence of any Event of Default or any subsequent Event of Default. In the event that Borrower fails to perform any of Borrower’s covenants, agreements or obligations contained in this Agreement or any of the other Loan Documents (after the expiration of applicable grace periods, except in the event of an emergency or other exigent circumstances), Lender may (but shall not be required to) perform any of such covenants, agreements and obligations, and any amounts expended by Lender in so doing and shall constitute additional Indebtedness evidenced by the Note and secured by the Security Instrument and the other Loan Documents and shall bear interest at a rate per annum equal to the Interest Rate (or Default Rate following an Event of Default). In addition, at any time after the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherremedies: (a) Take possession of the Projects Project and do anything which that is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project to use any portion of the Loan which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to pay, settle or compromise all existing and future bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note or the Indebtedness to be immediately due and payable, and further provided that upon the occurrence of any Event of Default under Section 7.1(f) all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrower; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness Indebtedness under this Agreement which is due and owing to Lender;; and (d) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the Construction and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project to complete the Construction in the name of Borrower; to use unadvanced funds remaining under the Note or which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to complete the Construction; to make changes in the Plans and Specifications which shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate Lender’s obligations to make further disbursements hereunder; (c) Declare the Note to be immediately due and payable; (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender;; and (de) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d)19.1(h) with respect to Borrower, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender, in addition to all remedies conferred upon Lender under the UCC or any other applicable law and by the terms of this Agreement, the Note, the Mortgage and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Property and do anything which is required, necessary or appropriate advisable in its Lender’s sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or othersBorrower hereunder. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its as Borrower’s lawful attorney-in-fact attorney‑in‑fact with full power of substitution substitution, such appointment being irrevocable and coupled with an interest, in the Projects premises to perform the following actions: (i) without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, claims which may be liens or security interestsliens, or to avoid such bills and claims becoming liens liens, against the Projects; Property or any portion of the Property or as may be necessary or desirable for the clearance of title to execute all applications and certificates in the name of each Borrower Property; (ii) to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and Property; (iii) to do any and every act which any Borrower might do in its own behalf; behalf with respect to the Property, it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Without limiting the generality of the foregoing, Lender, without demand of performance or other demand, presentment, protest, advertisement or notice of any kind (except any notice referred to below) to or upon Borrower or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances, to the extent permitted by law, forthwith collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of Lender or elsewhere upon such terms and conditions as it may deem advisable, for cash or on credit or for future delivery with assumption of any credit risk. Lender shall have the right upon any such public sale or sales, and, to the extent permitted by law, upon any such private sale or sales of the Collateral, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in Borrower, which right or equity is hereby waived and released. Borrower further agrees, at Lender’s request, to assemble the Collateral and make it available to Lender at places which Lender shall reasonably select, whether at Borrower’s premises or elsewhere. Any such sale may be held in conjunction with any foreclosure sale of the Property pursuant to the Mortgage. If Lender so elects, the sale of the Real Property (pursuant to the Mortgage) and the other Collateral may be sold as one lot. Lender shall apply the net proceeds of any action taken by it in accordance with this Agreement, after deducting all reasonable costs and expenses of every kind incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of Lender hereunder, including reasonable attorneys’ costs, to the payment in whole or in part of the Borrower’s Liabilities, in such order as Lender may elect, and only after such application and after the payment by Lender of any other amount required by any provision of law need Lender account for the surplus, if any, to Borrower. To the extent permitted by applicable law, each Credit Party waives all claims, damages and demands it may acquire against Lender arising out of the exercise by them of any rights hereunder. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be deemed reasonable and proper if given at least 10 days before such sale or other disposition. (c) Withhold further disbursement of the proceeds of the Loan and terminate any of its obligations to Borrower; (d) Declare the Note to be immediately due and payablepayable forthwith, including all of Borrower’s Liabilities, which includes all outstanding including fees, costs, expenses, reasonable attorneys’ fees of Lender, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived; (ce) Use In addition to any rights of set-off that Lender may have under applicable law, Lender, without notice of any kind to Borrower, may appropriate and apply any monies or letters of credit deposited by any Borrower with Lender, regardless to the payment of the purposes for which the same was deposited, to cure any such default Note or to apply on account of any indebtedness sums due under this Agreement which is due any and owing to all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender;; and (df) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, foreclosure of the Mortgage and enforcement of all Loan Documents. To the extent permitted by applicable law, or conferred upon Borrower waives all claims, damages and demands it may acquire against Lender arising out of the exercise by operation of Law. Notwithstanding the foregoing, upon the occurrence it of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowersrights hereunder.

Remedies Conferred Upon Lender. Upon During the occurrence continuance of any Event of Default that is continuingunder this Agreement, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession Withhold further disbursement of the Projects Loan Proceeds and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under terminate any of the bonds its obligations to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revokedBorrowers; (b) Declare the Note to be immediately due and payablepayable forthwith, without presentment, demand, protest or other notice of any kind, all of which Borrowers hereby expressly waive, and in the event of the occurrence of an Event of Default under Section 10.1(h) or 10.1(i) of this Agreement, the Note shall automatically become due and payable immediately; (c) Use In addition to any rights of setoff that Lender may have under applicable law, without notice of any kind to Borrowers, appropriate and apply any monies or letters of credit deposited by any Borrower with Lender, regardless to the payment of the purposes for which the same was deposited, to cure any such default Note or to apply on account of any indebtedness sums due under this Agreement which is due any and owing to all balances, deposits, credits, accounts, certificates of deposit, instruments or money of any Borrower then or thereafter in the possession of Lender, other than in a Lessee Rent Account; (d) Exercise all of the rights of a secured party under the Code; (e) Exercise collection remedies against Account Debtors directly or through the use of collection agencies and other collection specialists; (f) Instruct Borrowers, at their own expense, to notify any parties obligated on any of the Collateral, including any Account Debtors, to make payment directly to Lender of any amounts due or to become due thereunder, or Lender may directly notify such obligors of the security interest of Lender, or of the assignment to Lender of the Collateral and direct such obligors to make payment to Lender of any amounts due or to become due with respect thereto, and thereafter, collect any such amounts due on the Collateral directly from such persons obligated thereon, all except as otherwise restricted by law or other agreement with Borrowers or with FHA Mortgagee while the HUD Financing is in effect; (g) Enforce collection of any of the Collateral, including any Accounts, by suit or otherwise, or make any compromise or settlement with respect to any of the Collateral, or surrender, release or exchange all or any part thereof, or compromise, extend or renew for any period (whether or not longer than the original period) any indebtedness thereunder; or (h) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, enforcement of all Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the Construction in accordance with the Plans and Specifications and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-attorney in fact with full power of substitution in the Projects Project to complete the Construction in the name of Borrower; to use unadvanced funds remaining under the Note or which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to complete the Construction; to make changes in the Plans and Specifications which shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claimsclaims which are, or which may be liens or security interestsbecome, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower Borrower, prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder Bond(s) and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; , it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate Lender’s obligations to make further disbursements hereunder; (c) Declare the Note to be immediately due and payable; (cd) Use and apply any monies or letters Sell Units pursuant to Contracts of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to LenderSale; (de) Exercise all of Borrower’s rights under the Condominium Documents; and (f) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note, the Deed of Trust and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Premises and do anything which is required, necessary or appropriate advisable in its sole Lender’s reasonable judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or othersBorrower hereunder. Without restricting the generality of the foregoing and for the purposes aforesaid, each upon the occurrence of an uncured Event of Default and during the continuance thereof, Borrower hereby appoints and constitutes Lender its as Borrower’s lawful attorney-in-fact with full power of substitution in the Projects premises to perform the following actions: (i) without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, claims which may be liens or security interestsliens, or to avoid such bills and claims becoming liens liens, against the Projects; Premises or any portion of the Premises or for the clearance of title to execute all applications and certificates in the name of each Borrower Premises; (ii) to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; Premises; (iii) to take action and require such performance as it Lender deems necessary or advisable under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and and (iv) to do any and every act which any Borrower might do in its own behalf; behalf with respect to the Premises, it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and terminate any of its obligations to Borrower; (c) Declare the Note to be immediately due and payable; (c) Use and apply any monies payable forthwith, without presentment, demand, protest or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account other notice of any indebtedness under this Agreement kind, all of which is due and owing to LenderBorrower hereby expressly waives; (d) In addition to any rights of setoff that Lender may have under applicable law, Lender, without notice of any kind to Borrower, may appropriate and apply to the payment of the Note or of any sums due under this Agreement any and all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender; and (e) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, foreclosure of the Deed of Trust and enforcement of all Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender (i) in the case of paragraphs (a), (c), (d), (e) and (f) below, the Agent may (and shall at the direction of the Required Lenders), and (ii) in the case of paragraph (b) below, the Required Lenders may, pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the Construction in accordance with the Plans and Specifications and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender the Agent its lawful attorney-in-attorney in fact with full power of substitution in the Projects Project to complete the Construction in the name of Borrower; to use unadvanced funds remaining under the Facility A Commitment or which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to complete the Construction; to make changes in the Plans and Specifications which shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claimsclaims which are, or which may be liens or security interestsbecome, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower Borrower, prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder Bond(s) and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; , it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate the Facility A Lender’s obligations to make further disbursements under the Facility A Commitment; (c) Declare the Note Notes to be immediately due and payable; (cd) Use and apply any monies or letters Sell Units pursuant to Contracts of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to LenderSale; (de) Exercise all of Borrower’s rights under the Condominium Documents; and (f) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender the Agent by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note, the Mortgage and the other Loan Documents may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Premises and do anything which is required, necessary or appropriate advisable in its Lender’s sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or othersBorrower hereunder. Without restricting the generality of the foregoing and for the purposes aforesaid, each to the extent permitted by law, Borrower hereby appoints and constitutes Lender its as Borrower’s lawful attorney-in-fact with full power of substitution in the Projects premises to perform the following actions: (i) without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, claims which may be liens or security interestsliens, or to avoid such bills and claims becoming liens liens, against the Projects; Premises or any portion of the Premises or as may be necessary or desirable for the completion of the construction and equipping of the Premises or for the clearance of title to execute all applications and certificates in the name of each Borrower Premises; (ii) to prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and Premises; (iii) to do any and every act which any Borrower might do in its own behalf; behalf with respect to the Premises, it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the each Note to be immediately due and payablepayable forthwith, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived; (c) Use In addition to any rights of setoff that Lender may have under applicable law, Lender, without notice of any kind to Borrower, may appropriate and apply any monies or letters of credit deposited by any Borrower with Lender, regardless to the payment of the purposes for which the same was deposited, to cure any such default Note or to apply on account of any indebtedness sums due under this Agreement which is due any and owing to all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender;; and (d) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any other Loan Document, including, but not limited to, foreclosure of the Mortgage and enforcement of all Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may may, without notice, pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let Enforce any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens Liens or security interests, or to avoid such bills and claims becoming liens against interests under the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked;Security Documents. (b) Declare the Note to be immediately due and payable;. (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender;. (d) Terminate the Loan Amount or declare the Obligations or any part thereof to be immediately due and payable, or both, and the same shall thereupon become immediately due and payable, without notice, demand, presentment, notice of dishonor, notice of acceleration, notice of intent to accelerate, notice of intent to demand, protest, or other formalities of any kind, all of which are hereby expressly waived by Borrower. (e) Exercise or pursue any other remedy or cause of action permitted under this Agreement or under any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d15.1(d), (e), (l), (m) or (n) with respect to Borrower or the Bank, the Loan Amount shall automatically terminate and all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower, all of which are hereby expressly waived by Borrower. In addition to the foregoing, if any Event of Default shall occur and be continuing, Lender may exercise all rights and remedies available to it in law or in equity, under the Loan Documents, or otherwise.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the construction of the Project, any Phase thereof or any Condominium Building or any garage or amenity and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project: to complete the construction of the Project, any Phase thereof, any Condominium Building or any garage or amenity in the name of Borrower; to use unadvanced funds remaining under any Condominium Building Allocation or the Garage/Amenity Allocation, as applicable, or which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note; to make changes in the Plans and Specifications which shall be necessary or desirable to complete the construction of the Project, any Phase thereof, any Condominium Building or any garage or amenity in substantially the manner contemplated by the Plans and Specifications; to retain or employ general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claims, which are or may be liens or security interestsinterests against the Land, Project, any Phase thereof, any Condominium Building or any garage or amenity, or to avoid such bills and claims becoming liens against the ProjectsLand, Project, any Phase thereof, any Condominium Building or any garage or amenity or as may be necessary for the completion of the Project, any Phase thereof, any Condominium Building or any garage or amenity or the clearance of title to the Land, Project, any Phase thereof, any Condominium Building or any garage or amenity; to execute all applications and certificates in the name of each Borrower which may be necessary to prosecute and defend all actions or proceedings in connection with the Improvements Land, Project, any Phase thereof, any Condominium Building or any garage or amenity or which may be required under or by any contract pertaining to the ProjectsLand, Project, any Phase thereof, any Condominium Building or any garage or amenity; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan or any Condominium Building Allocation or the Garage/Amenity Allocation and/or terminate Lender’s obligations to make further disbursements hereunder or establish further Condominium Building Allocations; (c) Declare the Note to be immediately due and payable; (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender;; and (de) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, including the Deed of Trust, or conferred upon Lender by operation of Law, including foreclosure of the Deed of Trust. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d)13.1(h) with respect to Borrower, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuing, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including SECURED LOAN AGREEMENT Page 28 either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (d) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Xxxxxx, in addition to all remedies conferred upon Lender by Law and by the terms of the Note, the Mortgage and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare the Note to be immediately due and payable;payable forthwith, without presentment, demand, protest or other notice or action of any kind, all of which are hereby expressly waived. (b) In addition to any rights of set-off that Lender may have under applicable Law, Lender may, without notice of any kind to Borrower, appropriate and apply to the payment of the Note or of any sums due under this Agreement, any and all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender, or its Affiliates. Borrower hereby irrevocably authorizes and directs Lender from time to time to charge Xxxxxxxx’s accounts and deposits with Lender (or its Affiliates), and to pay over to Lender an amount equal to any amounts from time to time due and payable to Lender hereunder, under the Note or under any other Loan Document. Borrower hereby grants to Lender a security interest in and to all such accounts and deposits maintained by the Borrower with Lender (or its Affiliates). (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender; (d) Exercise or pursue any other remedy or cause of action permitted at Law or at equity or under this Agreement or any other Loan Document, including but not limited to foreclosure of the Mortgage and enforcement of all Loan Documents. (d) With or without entry upon the Land, or cause construction of the Project to be completed. Lender, for such purpose, may use all available materials and equipment located upon the Land and purchase all other necessary materials and employ contractors and other employees. All sums expended by Lender for such purpose shall constitute disbursements pursuant hereto and shall be secured by the Mortgage and other Loan Documents and shall forthwith be due and payable by Borrower to Lender with interest thereon at the Default Rate. The authority and agency conferred hereby upon Lender by operation of Law. Notwithstanding shall be deemed to create a power coupled with an interest and shall be irrevocable. (e) Have the foregoingProject appraised, upon at Xxxxxxxx’s cost. (f) Cause an environmental assessment to be conducted on the occurrence of any Event of Default under Section 14(d)Project, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowersat Xxxxxxxx’s cost.

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the Construction and do anything anything, which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects Project to complete the Construction in the name of Borrower; to use unadvanced funds remaining under the Note or which may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to complete the Construction; to make changes in the Plans and Specifications which shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the ProjectsProject; to take action and require such performance as it deems necessary under any of the bonds Bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any the Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Withhold further disbursement of the proceeds of the Loan and/or terminate Lender's obligations to make further disbursements hereunder; (c) Declare the Note to be immediately due and payable;, without any presentment, demand, protest or notice of any kind to Borrower, all of which are hereby expressly waived by Borrower. (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which is due and owing to Lender;; and (de) Exercise or pursue any other remedy or cause of action permitted under this Agreement or any other Loan Documents, or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d19.1(h) or (i), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to Borrowers.

Remedies Conferred Upon Lender. Upon the occurrence and during the continuance of any Event of Default that is continuingDefault, Lender may pursue any one or more of the following remedies concurrently or successively, in the sole discretion of Lender, it being the intent hereof that none of such remedies shall be to the exclusion of any other: (a) Take possession of the Projects Project and complete the Construction and do anything which that is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Borrower under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution to complete the Construction in the Projects name of Borrower; to use unadvanced proceeds of the Loan or that may be reserved, escrowed or set aside for any purposes hereunder at any time, or to advance funds in excess of the face amount of the Note, to complete the Construction; to make changes in the Plans and Specifications that shall be necessary or desirable to complete the Construction in substantially the manner contemplated by the Approved Plans and Specifications; to retain or employ new general contractors, subcontractors, architects, engineers and inspectors as shall be required for said purposes; to pay, settle or compromise all existing bills and claims, which claims that may be liens or security interests, or to avoid such bills and claims becoming liens against the ProjectsProject; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any that Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked; (b) Declare Withhold further disbursement of the proceeds of the Loan and/or terminate Lender's obligations to make further disbursements hereunder; (c) Accelerate the Maturity Date and declare the Note to be immediately due and payable; (cd) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account of any indebtedness under this Agreement which that is due and owing to Lender; (de) Reserved; (f) Assess interest on all amounts outstanding under the Note at the Default Rate; and (g) Exercise or pursue any other remedy or cause of action permitted under this Agreement or and/or any of the other Loan DocumentsDocuments (including, without limitation, the exercise of the power of sale under the Deed of Trust), or conferred upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d)19.1(g) with respect to Borrower, all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersBorrower. If, prior to the fourth (4th) anniversary of the Full Loan Opening, the Maturity Date of the Loan has been accelerated as a result of an Event of Default and the Loan is subsequently repaid, Borrower must pay to Lender (i) a yield maintenance fee, calculated as provided below, for the period from the date the Loan is repaid until the third (3rd) anniversary of the Full Loan Opening, if the Loan is repaid prior to such third (3rd) anniversary and (ii) a fee equal to one percent (1%) of the principal repaid if the Loan is repaid after the third (3rd) anniversary, and before the fourth (4th) anniversary, of the Full Loan Opening (but in any case not in excess of the maximum amount the Lender may charge or receive without violating applicable law). The yield maintenance fee will be equal to the amount of interest, based on the Margin, that would accrue on the principal balance of the Loan as of the date the Loan is repaid until the third (3rd) anniversary of the Full Loan Opening Date, plus one percent (1%) of such principal balance of the Loan, discounted at the Federal Funds Rate-Target, as published in The Wall Street Journal as of the date of such repayment, minus one-half percent (½ %).

Remedies Conferred Upon Lender. Upon the occurrence of any Event of Default that is continuingDefault, Lender, in addition to all remedies conferred upon Lender by law and by the terms of the Note, the Mortgage and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession Withhold further Advances of the Projects Loan Proceeds and do anything which is necessary terminate any or appropriate in all of its sole judgment obligations to fulfill the obligations of Borrowers under this Agreement and the other Loan Documents, including either the right to avail itself of and procure performance of existing contracts or let any contracts with the same contractors or others. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby appoints and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked;Borrower. (b) Declare the Note to be immediately due and payable;payable forthwith, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived. (c) Use In addition to any rights of set-off that Lender may have under applicable law, Lender may, without notice of any kind to Borrower appropriate and apply any monies or letters of credit deposited by any Borrower with Lender, regardless to the payment of the purposes for which the same was deposited, to cure any such default Note or to apply on account of any indebtedness sums due under this Agreement which is due Agreement, any and owing to all balances, deposits, credits, accounts, certificates of deposit, instruments or money of Borrower then or thereafter in the possession of Lender;. (d) Exercise or pursue any other remedy or cause of action permitted at law or at equity or under this Agreement or any other Loan Document, including but not limited to foreclosure of the Mortgage and enforcement of all Loan Documents. (e) With or without entry upon the Land, or cause construction of the Project to be completed. Lender, for such purpose, may use all available materials and equipment located upon the Land and purchase all other necessary materials and employ contractors and other employees. All sums expended by Lender for such purpose shall constitute Advances pursuant hereto and shall be secured by the Mortgage and other Loan Documents and shall forthwith be due and payable by Borrower to Lender with interest thereon at the Default Interest Rate specified in the Note. The authority and agency conferred hereby upon Lender by operation of Law. Notwithstanding the foregoing, upon the occurrence of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due be deemed to create a power coupled with an interest and payable, without any presentment, demand, protest or notice of any kind to Borrowersshall be irrevocable.

Remedies Conferred Upon Lender. Upon the occurrence and continuance of any Event Default, Lender, in addition to all remedies conferred upon Lender by law and by the terms of Default that is continuingthe Note, Lender the Deed of Trust and the other Loan Documents, may pursue any one or more of the following remedies concurrently or successively, it being the intent hereof that none of such remedies shall be to the exclusion of any otherothers: (a) Take possession of the Projects Project and complete the construction and equipping thereof and do anything which is required, necessary or appropriate advisable in its sole Lender’s reasonable judgment to fulfill the obligations of Borrowers under this Agreement and the other Loan DocumentsBorrower hereunder, including either the right rights to avail itself of and or procure performance of existing contracts or any of the Architect’s Agreement, Construction Contract and subcontracts, to let any contracts with the same contractors Contractor, subcontractors or others, and to employ watchmen to protect the Project from injury. Without restricting the generality of the foregoing and for the purposes aforesaid, each Borrower hereby authorizes Lender in Lender’s own name and Borrower hereby appoints and constitutes Lender its as Borrower’s lawful attorney-in-fact with full power of substitution in the Projects premises to perform any or all of the following actions: to complete construction and equipping of the Project in the name of Borrower; to use unadvanced Loan proceeds or to advance funds in excess of the face amount of the Note to complete the Project; to make changes in the Plans that are necessary or desirable to complete the Project; to retain or employ new contractors, subcontractors, architects, engineers and inspectors; without inquiring into and without respect to the validity thereof, to pay, settle or compromise all existing bills and claims, which claims that may be liens against the Project or security interestsany portion thereof, or as may be necessary or desirable for the completion of the construction and equipping of the Project or for the clearance of title to avoid such bills and claims becoming liens against the ProjectsLand; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary under any of the bonds to be furnished hereunder and to make settlements and compromises with the surety or sureties thereunder, and in connection therewith, to execute instruments of release and satisfactionProject; and to do any and every act which any that Borrower might do in its own behalf; it behalf and with respect to the Project, such appointment as attorney-in-fact being understood and agreed that this power of attorney shall be a power coupled with an interest and that cannot be revoked;. (b) Withhold further disbursement of the Construction Loan proceeds. (c) Declare the Note to be immediately due and payable; (c) Use and apply any monies payable forthwith, without presentment, demand, protest or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which the same was deposited, to cure any such default or to apply on account other notice of any indebtedness under this Agreement kind, all of which is due and owing to Lender;are hereby expressly waived. (d) Exercise or pursue any other remedy or cause of action permitted at law or in equity or under this Agreement or any of the other Loan Documents, or conferred upon Lender by operation including without limitation foreclosure of Law. Notwithstanding the foregoing, upon the occurrence Deed of any Event of Default under Section 14(d), all amounts evidenced by the Note shall automatically become due and payable, without any presentment, demand, protest or notice of any kind to BorrowersTrust.

Remedies Conferred Upon Lender. (a) Upon the occurrence and during the continuation of any an Event of Default that is continuingDefault, Lender may pursue all or any one or more of the following rights, powers, privileges and other remedies concurrently or successively, it being the intent hereof that none of such remedies shall be available to the exclusion of any other: (a) Take possession of the Projects and do anything which is necessary or appropriate in its sole judgment to fulfill the obligations of Borrowers Lender against Borrower under this Agreement and or any of the other Amended and Restated Loan DocumentsDocuments executed and delivered by, including either the right or applicable to, Borrower or at law or in equity may be exercised by Lender at any time and from time to avail itself of and procure performance of existing contracts time, whether or let not all or any contracts with the same contractors or others. Without restricting the generality of the foregoing Obligations shall be declared due and payable, and whether or not Lender shall have commenced any foreclosure proceeding or other action for the purposes aforesaid, each Borrower hereby appoints enforcement of its rights and constitutes Lender its lawful attorney-in-fact with full power of substitution in the Projects to pay, settle or compromise all existing bills and claims, which may be liens or security interests, or to avoid such bills and claims becoming liens against the Projects; to execute all applications and certificates in the name of each Borrower prosecute and defend all actions or proceedings in connection with the Improvements or the Projects; to take action and require such performance as it deems necessary remedies under any of the bonds to Amended and Restated Loan Documents. Any such actions taken by Lender shall be furnished hereunder cumulative and to make settlements concurrent and compromises with the surety may be pursued independently, singly, successively, together or sureties thereunderotherwise, at such time and in connection therewithsuch order as Lender may determine in its sole discretion, to execute instruments the fullest extent permitted by law, without impairing or otherwise affecting the other rights and remedies of release Lender permitted by law, equity or contract or as set forth herein or in the other Amended and satisfaction; and to do any and every act which any Borrower might do in its own behalf; it being understood and agreed that this power of attorney shall be a power coupled with an interest and cannot be revoked;Restated Loan Documents. (b) Declare Any amounts recovered from collateral for the Note Pre-Petition Loan after the occurrence and during the continuation of an Event of Default may be applied by Lender toward the payment of any interest and/or principal of the Pre-Petition Loan and/or any other amounts due under the Amended and Restated Loan Documents in such order, priority and proportions as Lender in its sole discretion shall determine. (c) Upon the occurrence and during the continuation of an Event of Default, Lender may declare all unpaid principal of and accrued interest on the Note, together with all other sums payable under the Amended and Restated Loan Documents, to be immediately due and payable; (c) Use and apply any monies or letters of credit deposited by any Borrower with Lender, regardless of the purposes for which whereupon the same was depositedshall become and be immediately due and payable, anything in the Amended and Restated Loan Documents to cure any such default the contrary notwithstanding, and without presentation, protest or to apply on account further demand or notice of any indebtedness under this Agreement kind, all of which is due and owing to Lender;are expressly hereby waived by Borrower. (d) Exercise Upon the occurrence and during the continuation of an Event of Default, Lender may appoint or pursue seek appointment of a receiver, without notice and without regard to the solvency of Borrower or the adequacy of the security, for the purpose of preserving any Facility, preventing waste, and to protect all rights accruing to Lender by virtue of this Agreement and the other Amended and Restated Loan Documents. (e) Upon the occurrence and during the continuation of an Event of Default, for the purposes of carrying out the provisions and exercising the rights, powers and privileges granted by or referred to in this Agreement, Borrower hereby irrevocably constitutes and appoints Lender its true and lawful attorney-in-fact, with full power of substitution, to execute, acknowledge and deliver any instruments and do and perform any acts which are referred to in this Agreement, in the name and on behalf of Borrower. The power vested in such attorney-in-fact is, and shall be deemed to be, coupled with an interest and irrevocable. (f) Except as otherwise expressly set forth herein, Borrower hereby waives to the extent not prohibited by applicable law (a) all presentments, demands for payment or performance, notices of nonperformance (except to the extent required by the provisions hereof or of any other remedy Amended and Restated Loan Documents), protests and notices of dishonor, (b) any requirement of diligence or cause promptness on Lender’s part in the enforcement of action permitted its rights (but not fulfillment of its obligations) under the provisions of this Agreement or any other Loan Document, and (c) any and all notices of every kind and description which may be required to be given by any statute or rule of law and are not otherwise required to be given hereunder or under any other Amended and Restated Loan Document, to the fullest extent permitted by applicable law. (g) No course of dealing and no delay or omission by Lender or Borrower in exercising any right or remedy hereunder shall operate as a waiver thereof or of any other right or remedy and no single or partial exercise thereof shall preclude any other or further exercise thereof or the exercise of any other right or remedy. A waiver on any one occasion shall not be construed as a bar to or waiver of any right or remedy on any future occasion. No waiver or consent by Lender shall be binding upon Lender unless it is in writing and signed by Lender. Lender’s exercise of Lender’s right to remedy any default by Borrower to Lender or any other Person shall not constitute a waiver of the default remedied, a waiver of any other prior or subsequent default by Borrower or a waiver of the right to be reimbursed for any and all of its expenses in so remedying such default. (h) The rights, powers and remedies of Lender under this Agreement shall be cumulative and not exclusive of any other right, power or remedy which Lender may have against Borrower pursuant to this Agreement or the other Amended and Restated Loan Documents, or conferred upon existing at law or in equity or otherwise. Lender’s rights, powers and remedies may be pursued singly, concurrently or otherwise, at such time and in such order as Lender by operation of Lawmay determine in Lender’s sole discretion. Notwithstanding the foregoingNo delay or omission to exercise any remedy, right or power accruing upon the occurrence and continuation of any an Event of Default under Section 14(d)shall impair any such remedy, all amounts evidenced by the Note right or power or shall automatically become due be construed as a waiver thereof, but any such remedy, right or power may be exercised from time to time and payable, without any presentment, demand, protest as often as may be deemed expedient. A waiver of one default or notice Event of Default with respect to Borrower shall not be construed to be a waiver of any kind subsequent default or Event of Default by Borrower or to Borrowersimpair any remedy, right or power consequent thereon.