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general partner is reasonably acceptable to City. <br /> c) Any notices required to be provided to Assignee shall also be concurrently sent to <br /> the Investor Limited Partner at the following address: <br /> Wells Fargo Affordable Housing <br /> Community Development Corporation <br /> MAC D1053- 170 <br /> 301 South College Street <br /> Charlotte, NC 28288 <br /> Attn: Director of Tax Credit Asset Management <br /> d) In the event Assignee fails to perform any obligation contained in the CDBG Loan <br /> Documents or the Declaration, such failure shall constitute a default under the applicable <br /> document, but City agrees that it shall provide written notice of the default to Assignee, and <br /> Assignee shall have ten (10) days after delivery of such written notice to cure the default in the <br /> case of a monetary default and sixty (60) days after delivery of such written notice to cure <br /> nonmonetary defaults, provided that if the default is of a nature that it cannot be cured within 60 <br /> days, the cure period shall be extended provided that Assignee commences to cure the default <br /> within 60 days and thereafter prosecutes the curing of such default with due diligence and in <br /> good faith. <br /> e) The City hereby acknowledges and agrees that the "Project Completion" date as <br /> defined in the Declaration is amended to be May 31 , 2016. Accordingly, the term of the <br /> Declaration shall expire on May 31 , 2021 . Notwithstanding anything to the contrary in Section 1 <br /> of the Loan Agreement, the City hereby acknowledges and agrees that the rehabilitation of the <br /> Property shall be completed by May 31 , 2017. <br /> f) Notwithstanding anything to the contrary set forth in the Deed of Trust or any <br /> other CDBG Loan Document, and subject to the provisions of any senior mortgage or deed of <br /> trust secured by the Property, insurance and condemnation proceeds shall be used to rebuild the <br /> Property provided that (i) sufficient funds are provided from other sources to effectively rebuild <br /> the Property to a lawfully authorized multifamily housing complex, and (ii) the City (or the <br /> holder of the first mortgage lien) shall be entitled to hold all such proceeds and disburse them <br /> based on the progress of construction. <br /> (g) Notwithstanding anything to the contrary set forth in the CDBG Loan Documents: <br /> (i) The CDBG Loan is a nonrecourse obligation of Assignee. Neither Assignee <br /> nor any of its partners or affiliates shall be personally liable for repaying the CDBG Loan, <br /> and the City's sole recourse under the CDBG Loan Documents shall be the exercise of its <br /> rights against the Property, subject to any non-recourse carveouts set forth in the CDBG <br /> Loan Documents. <br /> (ii) The rehabilitation of the Property shall be completed no later than May 31 , <br /> ATTY/AGR/2016.156/RWC-CITY CENTER- ASSIGNMENT & MODIFICATION-CITY CDBG HOME DOCS CITY CE <br /> REV: 06-22-16 VR <br /> Page 4 of 7 <br />