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<br />or obligation as set forth in this Grant Deed and, if such default <br />remains uncured for a period of thirty (30) days after notice <br />thereof shall have been given by the Agency, or such longer period <br />as may be approved by the Agency in writing in its sole discretion, <br />then the Agency may declare that an Event of Default has occurred <br />hereunder and may take anyone or more of the following steps, at <br />its option: <br /> <br />(a) By mandamus or other suit, action or proceeding at <br />law or in equity, require the Grantee or its successors in interest <br />to perform its obligations and covenants hereunder, or enjoin any <br />acts or things which may be unlawful or in violation of the rights <br />of the Agency hereunder; and <br /> <br />(b) Take whatever other action at law or in equity may <br />appear necessary or desirable to enforce the obligations, covenants <br />and agreements hereunder, including, without limitation, the <br />exercise of remedies under the Deed of Trust if not previously <br />reconveyed. <br /> <br />(c) No delay in enforcing the provisions hereof as to <br />any breach or violation shall impair, damage or waive the right <br />against or recover for the continuation or repetition of such <br />breach or violation or any similar breach or violation thereof at <br />any later time or times. <br /> <br />11. Subordination of Covenants. To the extent <br />applicable, pursuant to California Health & Safety Code Section <br />33334.14, the covenants of this Grant Deed shall be subordinate to <br />any lien, encumbrance, terms, or covenants and conditions of any <br />deed of trust, mortgage, or regulatory agreement securing the <br />interests under the Public Assistance and the construction <br />financing necessary for the development and construction of the <br />Project. Agency agrees to execute subordination agreements if <br />requested or required by such other lenders. <br /> <br />12. Attorneys' Fees. In any'legal proceeding begun to <br />enforce the terms of or restrain a violation of this Grant Deed, <br />the losing party or parties must pay the attorneys' fees of the <br />winning party or parties in the amount fixed by the court in the <br />proceeding. <br /> <br />13. Amendments. This Grant Deed may only be amended in <br />writing by an instrument signed by the authorized representative of <br />the Agency and the then record owner or owners of the Property. <br /> <br />14. Severability. If any provision of this Grant Deed <br />shall be invalid, inoperative or unenforceable as applied in any <br /> <br />8 <br /> <br />REDW\0006\DOC\027 <br />