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EXHIBIT 2 (a) Grantee fails to perform any obligation for the payment of money under this Agreement, and such failure is not cured within ten(10) Business Days after Grantee's receipt of written notice that such obligation was not performed when due; (b) Any representation or warranty in this Agreement proves to have been incorrect in any material respect when made; (c) The Property is materially damaged or destroyed by fire or other casualty unless Grantee fulfills the Restoration Conditions set forth in the insurance provisions of this Agreement within one hundred eighty (180)days and thereafter diligently restores the Property in accordance with this Agreement; (d) Work on the construction ceases for sixty (60) consecutive days for any reason (other than Force Majeure delays, as defined in Section 17.2); (e) Grantee is enjoined or otherwise prohibited by any Governmental Authority from constructing and/or occupying the Improvements and such injunction or prohibition continues unstayed for sixty (60)days or more for any reason; I (t) Construction of the Project has not commenced within sixty(60) days of the Initial Disbursement. Construction of the Project in accordance with the Scope of Work is not ' (g) , complete within two (2) years from the Initial Disbursement. (h) Grantee has not commenced leasing the Affordable Units to Eligible Households within 18 eighteen g ( ) months from completion of the Scope of Work. (i) Grantee is dissolved, liquidated or terminated, or all or substantially all ofr the assets of Grantee are sold or otherwise transferred without the City Project Manager's prior written consent; or, (j) Grantee is the subject of an order for relief by bankruptcy a bankru tc cou rt, or is unable or admits its inability to pay its deb ts as they mature, or makes an assignment for the benefit of creditors; or Grantee applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator,rehabilitator or similar officer for it or any part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of Grantee and the appointment continues undischarged or unstayed for ninety (90) days; or Grantee institutes or consents to any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, custodianship, conservatorship, liquidation, construction or similar proceeding relating to it or any part of its property; or any similar proceeding is instituted without the consent of Grantee and continues undismissed or unstayed for ninety (90) days; or any judgment, writ, warrant of attachment or execution, or similar process is issued or levied against any property of Grantee and is not released, vacated or fully bonded within ninety (90) days after its issue or levy. 15.2 Remedies Unon Default. Upon the occurrence of any Event of Default, City may, at its option and in its absolute discretion do an or al of the 1 y following: i City Council 16 — 38 5/19/2026