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17. Severability. <br />Every provision of this Note is intended to be severable. In the event any term or provision <br />hereof is declared by a court of competent jurisdiction, to be illegal or invalid for any reason <br />whatsoever, such illegality or invalidity shall not affect the balance of the terms and provisions <br />hereof, which terms and provisions shall remain binding and enforceable. <br />18. Number and Gender. <br />In this Note the singular shall include the plural and the masculine shall include the <br />feminine and neuter gender, and vice versa, if the context so requires. <br />19. Non-recourse. <br />The Inclusionary Loan is a nonrecourse obligation of the Borrower. Neither Borrower, nor <br />its partners, nor any other person or entity shall have any personal liability for repayment of the <br />Inclusionary Loan or for any other amounts under any of the documentation evidencing, securing <br />or describing the Inclusionary Loan. The sole recourse of City under this Note and the Deed of <br />Trust for repayment of the Inclusionary Loan and for such other amounts arising therefrom shall <br />be the exercise of its rights against the Property and related security thereunder. <br />20. Subordination. <br />It is hereby expressly agreed and acknowledged by Borrower and City that the Deed of <br />Trust is a subordinate deed of trust, and that this Note is subject and subordinate to any Senior <br />Deed of Trust. <br />21. Notice of Default. <br />a. Subject to the applicable cure periods set forth in section 14, and subject to the further <br />provisions of this section 21, failure or delay by the Borrower to perform any term or provision of <br />this Note constitutes a default under this Note. The Borrower must commence to cure, correct, or <br />remedy such failure or delay and shall complete such cure, correction or remedy with reasonable <br />diligence. <br />b. The City shall give written notice of default to the Borrower and the Investor Limited <br />Partner (as defined in the Agreement) specifying the default complained of by the City. Delay in <br />giving such notice shall not constitute a waiver of any default nor shall it change the time of default. <br />c. Except in the case of a monetary event of default, the Borrower shall not be in default <br />so long as it endeavors to complete such cure, correction or remedy with reasonable diligence, <br />provided such cure, correction or remedy is completed within the applicable time period set forth <br />10 <br />80A-281 <br />