14-20 Cedar Glen Bond Ordinance Addendums

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(gg) The Borrower, General Partner or any Co-Maker fails for any reason to materially comply with any of the provisions or terms of the Partnership Agreement and such failure is not cured or waived within any cure period allowed thereunder; (hh) The occurrence of any default by Borrower under the documents or agreements executed in connection with the Other Available Sources of Funds and a failure to cure such default within the applicable cure period specified therein, if any; (ii) [This paragraph is intentionally left blank]; (jj) [This paragraph is intentionally left blank]; (k() A determination by MBI, in its sole reasonable discretion, that any action, inaction, commission, omission or circumstance has occurred or may occur which may subject any assets of Borrower, including but not limited to the Real Estate and Improvements, to be seized by any federal, state or local governmental department, agency or instrumentality pursuant to 18 U.S.C. Sec. 1963, 21 U.S.C. Sec. 853, 21 U.S.C. Sec. 881,46 App. U.S.C. Sec. 1904 or any similar federal, state or local laws and/or regulations adopted in publications promulgated pursuant to such laws, or as such laws or regulations may be amended,modified or supplemented from time to time; (11) This Project loses its eligibility for any portion of the Tax Credits available to the Project which cause the Loan to no longer be In-Balance and failure of Borrower to deposit in a restricted account with MBI an amount equal to the deficiency and/or revise the Development Agreement to increase the amount of Deferred Developer Fee in order to put the Loan In-Balance as required in Article XVI hereof; or (mm) The occurrence of an "Event of Default" under any of the documents executed in connection with the Bonds (for purposes of this paragraph, an "Event of Default" under the documents evidencing the Bonds shall mean the occurrence of any event or circumstance which is either defined as, or would constitute, an "Event of Default" under the terms of such document evidencing the Bonds); or (nn) With respect to any document executed in connection with the Bonds, which does not contain an express definition for an "Event of Default", the occurrence of any default under such document executed in connection with the Bonds, and a failure to cure such default within the applicable cure period specified therein, if any; Notwithstanding anything expressed or implied in this Section to the contrary, if MBI is prevented or prohibited by any applicable provision of the United States Bankruptcy Code or other applicable law from giving Borrower a notice of default hereunder, then in such event with respect to any default for which this Section provides that notice shall be given (i) no notice of a default shall be given to Borrower and any requirement that notice of a default must be given in order for an Event of Default to have occurred hereunder shall be deemed eliminated, and (ii) any applicable cure period which this Section provides shall follow such notice shall run from the occurrence of the event or condition of default rather than from the date of notice. Notwithstanding anything contained in the Loan Documents to the contrary,the parties hereby agrees that any cure of any default or Event of Default made or tendered by the Limited Partner during any applicable cure period set forth in Section 17.1 shall be deemed to be a cure by Borrower and shall be accepted or rejected on the same basis as if made or tendered by Borrower, provided, however, it is expressly understood that such Limited Partner shall be under no obligation to make or tender such cure. Page 61