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default until thirty (30) days after giving such notice. Failure or delay in giving such notice shall <br />not constitute a waiver of any default, nor shall it change the time of default. Notwithstanding <br />the foregoing, for purposes of acceleration of the Homebuyer Assistance Loan, payment of the <br />Note Amount including the Contingent Equity Participation Amount, or initiation of foreclosure <br />proceedings, there shall be a distinction between the types of default hereunder, including an <br />"Ownership Default" and a "Maintenance Default". <br />17.1 Ownership Default. The term "Ownership Default" means the failure of <br />the Homebuyer to perform any action or covenant required by the Affordable Housing Resale <br />Restriction related to ownership, owner-occupancy, lien priority, and restrictions on sale and <br />resale of the Property, subject to notice and an opportunity to cure as set forth herein. A default <br />of any obligation secured by the First Lien shall be a cross-default and also constitute an <br />Ownership Default. <br />17.2 Maintenance Default. The term "Maintenance Default" means the <br />failure of the Homebuyer to perform any action or covenant required by the Affordable Housing <br />Resale Restriction relating to a "Maintenance Deficiency," including the ongoing upkeep, <br />maintenance, and use of the Property in a decent, safe, sanitary, clean, and neighborly manner, <br />subject to notice and an opportunity to cure as set forth herein (and expressly excluding an <br />Ownership Default). <br />18. Remedies. The Agency shall be entitled to all legal and equitable remedies <br />available under the law upon the default of the terms of this Agreement by the Homebuyer. Such <br />remedies may include, without limitation, (a) specific performance of the terms of this <br />Agreement, (b) disgorgement of any amount of consideration received for the Property that <br />exceeds an Affordable Housing Cost, and/or (c) an order to pay attorneys' fees, as set forth in <br />Section 30. <br />19. Non-Waiver. Failure to exercise any right the Agency may have or be entitled to, <br />in the event of default hereunder, shall not constitute a waiver of such right or any other right in <br />the event of a subsequent default. <br />20. Documents. The Homebuyer is aware that the Agency has prepared certain <br />documents to implement the Program and secure repayment of the Homebuyer Assistance Loan. <br />The Homebuyer has reviewed and agrees to execute the following documents in substantially the <br />form as attached hereto prior to receiving the Homebuyer Assistance Loan, and any other <br />documents reasonably required by the Agency or a participating entity to complete the <br />transaction contemplated herein: <br />a. Promissory Note; <br />b. Agency Deed of Trust; <br />C. Affordable Housing Resale Restriction; <br />d. Reimbursement Agreement, substantially in the form of Exhibit <br />"E" attached hereto and fully incorporated by this reference; <br />ATTACHMENT NO. 11-14 <br />Form of Homebuyer Loan Agreement <br />DOCS00 1400573v141200272-0001