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ARTICLE XVIII. <br /> REMEDIES <br /> Section 18.1 MBI Remedies. Upon the occurrence of any Event of Default hereunder, MBI <br /> may, in its sole discretion without further notice or demand to Borrower, pursue any one or more of the <br /> following rights,powers and remedies concurrently or successively, it being the intent hereof that none of <br /> such rights,powers and remedies shall be to the exclusion of any other: <br /> (a) Declare all of the indebtedness evidenced by the Note and remaining unpaid, <br /> including without limitation the entire unpaid principal balance, any accrued and unpaid interest, <br /> all prepayment premiums payable under the Note, if any, and all other amounts payable under the <br /> Note,to be immediately due and payable, anything contained herein or in the Note to the contrary <br /> notwithstanding; <br /> (b) Withhold making any further advancement under the Loan; <br /> (c) Perform all acts necessary for the performance, sale, collection and enforcement <br /> of any collateral securing the Loan; <br /> (d) Exercise any of the various rights, powers and remedies provided in any of the <br /> Loan Documents; <br /> (e) Without demand or notice of any kind, apply any funds of Borrower on deposit <br /> with or in the possession of MBI toward the payment of any indebtedness outstanding under the <br /> Loan Documents, in such manner of application as MBI may choose, to the extent such funds are <br /> not Mortgaged Property(as defined in the HUD Mortgage); and <br /> (f) In addition to the rights, powers and remedies herein expressly conferred upon <br /> MBI,MBI shall be entitled to exercise all rights,powers and remedies available to MBI by law or <br /> at equity. <br /> Section 18.2 [This Section is intentionally left blank]. <br /> Section 18.3 Rights not Exclusive. All rights and remedies of MBI herein specified are <br /> cumulative and in addition to,not in limitation of, any rights and remedies which it may have by law or at <br /> equity. Enforcement by MBI of any security for Borrower's obligations under or in connection with the <br /> Loan or this Agreement shall not constitute an election by MBI of remedies so as to preclude the exercise <br /> of any other right or remedy available to MBI. <br /> Section 18.4 No Waiver. MBI may exercise any remedy available to MBI hereunder <br /> regardless of any prior forbearance. No waiver of any default or failure or delay to exercise any right or <br /> remedy by MBI shall operate as a waiver of any other default or of the same default in the future or as a <br /> waiver of any right or remedy with respect to the same or any other occurrence. The acceptance by MBI <br /> of(i) any payment after the due date of such payment, (ii) any payment in an amount which is less than <br /> the required payment, or (iii) the partial performance of any other obligation of Borrower arising under <br /> the Loan, shall not be a waiver of MBI's right to require prompt payment when due of all other payments, <br /> prompt performance of all other obligations or to exercise any right or remedy with respect to any failure <br /> to make prompt payment or perform such obligations. <br /> Section 18.5 Un-Cured Defaults. Notwithstanding anything expressed or implied herein to the <br /> contrary, MBI shall have no obligation to make any advancement under the Loan during any period in <br /> which an event or circumstance exists that, with the giving of notice or the lapse of time, would become <br /> Page 62 <br />