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Exhibit F <br />21. Non - recourse. <br />The City Loan is a nonrecourse obligation of the Borrower. Neither Borrower nor any <br />other party shall have any personal liability for repayment of the City Loan or for any other <br />amounts under any of the documentation evidencing, securing or describing the City Loan. The <br />sole recourse of City under this Note and the Deed of Trust for repayment of the City Loan and <br />for such other amounts arising therefrom shall be the exercise of its rights against the Property <br />and related security thereunder. <br />22. Subordination. <br />It is hereby expressly agreed and acknowledged by Borrower and City that the City Deed <br />of Trust is a subordinate deed of trust, and that this Note is subject and subordinate to the Senior <br />Loan Deed of Trust held by <br />23. Notice of Default. <br />a. Subject to the applicable cure periods set forth in Section 16 and extensions of time <br />set forth in Section 25, and subject to the further provisions of this Section 23, failure or delay by <br />the Borrower to perform any term or provision of this Note constitutes a default under this Note. <br />The Borrower must immediately commence to cure, correct, or remedy such failure or delay and <br />shall complete such cure, correction or remedy -with reasonable diligence and during any period <br />of curing shall not be in default. <br />b. The City shall give written notice of default to the Borrower, specifying the <br />default complained of by the City. Delay in giving such notice shall not constitute a waiver of <br />any default nor shall it change the time of default. <br />C. Except in the case of a monetary event of default, the Borrower shall not be in <br />default so long as it endeavors to complete such cure, correction or remedy with reasonable <br />diligence, provided such cure, correction or remedy is completed within the applicable time <br />period set forth herein after receipt of written notice (or such additional time as may be deemed <br />by the City to be reasonably necessary to correct the default). <br />d. Any failures or delays by the City in asserting any of its rights and remedies as to <br />any default shall riot operate as a waiver of any default or of any such rights or remedies. Delays <br />by the City in asserting any of its rights and remedies shall not deprive the City of its right to <br />institute and maintain any actions or proceedings which it may deem necessary to protect, assert, <br />or enforce any such rights or remedies. <br />10 <br />251 -75 <br />