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d. The date that is fifty five (55) years after the date of this Note. On that date, the City <br />agrees to review the performance of the Property and consider in good faith any reasonable request <br />by Borrower to modify the terms of this Note or extend the Term of this City/HOME Loan Note. <br />11. Prepayment. <br />Borrower may prepay the outstanding principal balance under this Note, in whole or in part, <br />together with any accrued but unpaid interest, if any, and other sums owed to the City under this <br />Note, if any, at any time without penalty. <br />12. Lawful Money. <br />All payments hereunder shall be made in lawful money of the United States of America. <br />13. Annlication of Payments: Late Charges. <br />a. Any payments received by the City pursuant to the terms hereof shall be applied first <br />to sums, other than principal and interest, due the City pursuant to this Note, next to the payment of <br />all interest accrued to the date of such payment, and the balance, if any, to the payment of principal. <br />b. If any payment is not received by the City within ten (10) days following the due date <br />thereof, then in addition to the remedies conferred upon the City pursuant to this Note and the other <br />Loan Documents, (i) a late charge of four percent (4%) of the amount due and unpaid will be added <br />to the delinquent amount to compensate the City for the expense of handling the delinquency and <br />(ii) the amount due and unpaid, excluding the late charge, shall bear interest at the highest annual rate <br />which may lawfully be charged and collected under applicable law on the obligation evidenced by <br />this Note, computed from the date on which the amount was due and payable until paid. Without <br />prejudice to the rights of the City hereunder or under any of the other Loan Documents, Borrower <br />shall indemnify the City against, and shall pay the City on demand, any expense or loss which it may <br />sustain or incur as a result of the failure by Borrower to pay when due any installment of interest <br />and/or principal, fees, or other amounts payable to the City under this Note or any other Loan <br />Document, to the extent that any such expense or loss is not recovered pursuant to such foregoing <br />provisions. A certificate of the City setting forth the basis for the determination of the amounts <br />necessary to indemnify the City in respect of such expenses or direct loss, submitted to Borrower by <br />the City, shall be conclusive and binding for all purposes except as immediately corrected by <br />Borrower notice to City. <br />14. Security <br />This Note is secured by the City/HOME Loan Deed of Trust. <br />15. Acceleration by Reason of Transfer or Financing. <br />a. In order to induce City to make the City/HOME Loan evidenced hereby, Borrower <br />agrees that in the event of any Transfer (defined in Section 16.2 of the Loan Agreement) of the <br />Property without the prior written consent of City (other than a Transfer resulting from a foreclosure, <br />or conveyance by deed in lieu of foreclosure, by the holder of the Senior Loan Deed of Trust), City <br />shall have the absolute right at its option, without prior demand or notice, to declare all sums secured <br />hereby immediately due and payable. Consent to one such transaction shall not be deemed to be a <br />waiver of the right to require consent to future or successive transactions. City may grant or deny <br />D-6 <br />DOCSOC! 1475221 v5/200272-0004 <br />