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Note, and Maker's failure to maintain insurance on the Property as required pursuant to the City <br /> Deed of Trust. <br /> 8.2 The entry of an order for relief under federal bankruptcy laws as to Maker or the <br /> adjudication of Maker as insolvent or bankrupt pursuant to the provisions of any state or federal <br /> insolvency or banIa-uptcy act, or Maker's consent to, acquiescence in, or attempt to secure the <br /> appointment of, any receiver for all or any substantial part of the Property. <br /> 8.3 The occurrence of an event of default under any loan secured by the Property and <br /> the continuance of such default beyond the expiration of all applicable cure periods such that the <br /> holder of such loan has the right to accelerate such loan. <br /> 9. Remedies. Upon the occurrence of a Default, the giving of any required notice thereof, <br /> and the expiration of any applicable cure period, City may, at its option, exercise any one or <br /> more of the following remedies: <br /> 9.1 Declare all of the sums payable under this Note to be immediately due and <br /> payable without fiu-ther demand. <br /> 9.2 Pursue the exercise of the power of sale provided under the City Deed of Trust. <br /> 9.3 Either in person or by agent, with or without bringing any action or proceeding, or <br /> by a receiver appointed by a court, and without regard to the adequacy of its security, enter upon <br /> the Property and take possession thereof(or any part thereof) and of any of the Security in its <br /> own name or in the name of the Trustee, and do any acts which it deems necessary or desirable <br /> to preserve the value or marketability of the Property, or part thereof or interest therein, or <br /> protect the security thereof. The entering upon and taking possession of the Security shall not <br /> cure or waive any breach hereunder or invalidate any act done in response to such breach, and <br /> notwithstanding the continuance in possession of the Property, the City shall be entitled to <br /> exercise every remedy provided by the City Documents or by law, upon the occurrence of any <br /> uncured breach. <br /> 9.4 Commence an action to foreclose the City Deed of Trust as a mortgage, appoint a <br /> receiver, or specifically enforce any of the covenants set forth in the City Documents. <br /> 9.5 Exercise its option to purchase the Property pursuant to the Affordable Housing <br /> Resale Restrictions. <br /> 9.6 Exercise all other rights and remedies provided herein or in any other City <br /> Document. <br /> 9.7 Exercise any other remedy provided by law or in equity. <br /> Page 45 <br /> Exhibit C <br /> 5 53 94.001011434233 40.1 <br />