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EXHIBIT 2 <br /> (a) Grantee fails to perform any obligation for the payment of money under <br /> this Agreement,and such failure is not cured within ten(10)Business Days after Grantee's <br /> receipt of written notice that such obligation was not performed when due; <br /> (b) Any representation or warranty in this Agreement proves to have been <br /> incorrect in arty material respect when made; <br /> (e) The Property is materially damaged or destroyed by fire or other casualty <br /> unless Grantee Ufills the Restoration Conditions set forth in the insurance provisions of this <br /> Agreement within one hundred eighty (180)days and thereafter diligently restores the Property <br /> in accordance with.this Agreement; <br /> (d) Work on the construction ceases for sixty(60)consecutive days for any <br /> reason(other than Force Majeure delays,as defined in Section 17.2), <br /> t <br /> (e) Grantee is enjoined or otherwise prohibited by any Governmental <br /> Authority from constructing and/or occupying the Improvements and such injunction or id <br /> prohibition continues unstayed for sixty(60)days or more for any reason; I <br /> (f) Construction of the Project has not commenced within sixty(60) days of <br /> the Initial Disbursement. <br /> (g) Construction of the Project in accordance with the Scope of Work is not <br /> complete within two (2)years from the Initial Disbi sement. <br /> (.h) Grantee has not corntnen.ced leasing the Affordable Units to Eligible <br /> Households within eighteen(18) months from completion of the Scope of Work. <br /> 0) Grantee is dissolved, liquidated or terminated, or all or substantially all of <br /> the assets of Grantee are sold or otherwise transferred without the City Project Manager's prior <br /> written consent; or, <br /> 6) Grantee is the subject of an order for relief b a bankruptcy court o <br /> y py or is <br /> unable or admits its inability to pay its debts as they mature, or makes an assignment for the <br /> benefit of creditors; or Grantee applies for or consents to the appointment of any receiver, <br /> trustee, custodian, conservator, liquidator,rehabilitator or similar officer for it or any part of its <br /> property; or any receiver,trustee,custodian, conservator,liquidator,rehabilitator or similar <br /> officer is appointed without the application or consent of Grantee and the appointment continues <br /> undischarged or unstayed for ninety(90) days; or Grantee institutes or consents to any <br /> bankruptcy, insolvency,reorganization, arrangement,readjustment of debt, dissolution, <br /> custodianship, conservatorship, liquidation, construction or similar proceeding relating to it or <br /> any part of its property; or any similar proceeding is instituted without the consent of Grantee <br /> and continues undismissed or unstayed for ninety(90) days; or any judgment,writ, warrant of <br /> attachment or execution, or similar process is issued or levied against any property of Grantee <br /> and is not released,vacated or fully bonded within ninety (90) days after its issue or levy. <br /> 15.2 Remedies U on Default. Upon the occurrence of any Event of Default,City E <br /> i <br /> may, at its option and in its absolute discretion, do any or all of the following; <br /> I <br /> City Council 16 — 38 5/19/2026 <br />