Agmt17 HIP Housing Funds to Acquie 1512 Stafford

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and this Note, and any other agreements between the City and the undersigned, and shall entitle the City to declare all sums due hereunder immediately due and payable. 6. Miscellaneous Provision a. The Owner waives notice of non-payment and protest, presentment and notice of dishonor. b. In the event of any legal action with respect to the terms or enforcement of this Note, the prevailing party shall be entitled to an award of its attorney's fees and costs of suit. c. Notwithstanding any language herein to the contrary, this Note shall become immediately due and payable in the amount of all unpaid principal, together with interest thereon as provided above, upon any transfer in violation of the Agreement of title to the Property and/or the Project to any person, firm or corporation other than the Owner and, except as provided in said Agreement, whether such transfer of title be voluntary, involuntary, or by operation of law. d. In the event the Owner shall fail to pay the payment when due, or otherwise breach the terms of this Note, and if such failure be subsisting ten (10) days for monetary breaches hereof, or sixty (60) days for other breaches hereof, after written notice given in accordance with the Agreement, the unpaid principal amount of this Note, together with accrued interest and late charges, shall become due and payable, at the option of the City, without further notice to the undersigned. Failure of the City to exercise such option shall not constitute a waiver of such default. e. In the event that no advances are made under this Note, and providing that the Owner provides the City with a release of its obligations under the Agreement and/or this Note to make any such advances, the City shall return the original of this Note to the Owner upon written demand by the Owner to do so. The City shall have the right to approve the terms of such a release, which approval shall not be unreasonably withheld. f. The advance of the proceeds of this Note is subject to the provisions of the Agreement, and the principal amount to be repaid hereunder shall not exceed the actual principal amount advanced by the City. 7. Limits on Personal Liabilitv a. Except as otherwise provided in this Paragraph 7, the Owner shall have no personal liability under this Note, the Agreement, the Deed of Trust or any of the other documents evidencing or securing the Owner's obligations in respect of the loan evidenced by the Note (the "Loan Documents") for the repayment of the indebtedness evidenced by this Note (the "Indebtedness") or for the performance of any other obligations of the Owner under the Loan Documents, and the City's only recourse for the satisfaction of the Indebtedness and the performance of such obligations shall be the City's exercise of its rights and remedies with respect to the Property and any other collateral held by the City as security for the Indebtedness. ATTY/AGR/2017.145/ STAFFORD FUNDING AGREEMENT REV: 06-21-1715 Page 32 of 41