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11. Default. An event of default ("Default") shall arise hereunder upon the occurrence <br />of any one or more of the following and the expiration of any applicable cure period: <br />(a) Trustor fails to complete construction of the Project as defined in, and in <br />accordance with the Loan Agreement; <br />(b) The sale, conveyance, encumbrance, refinance, assignment or other transfer <br />of the Property or part thereof, including without limitation, the sale, lease, <br />or rental of the Property or part thereof in violation of the HOME Program <br />Regulatory Agreement; <br />(c) An event of default arises under the Loan Agreement, the Note, or the <br />HOME Program Regulatory Agreement and such default remains uncured <br />following the expiration of any applicable cure period; <br />(d) Trustor fails to pay when due any sum payable pursuant to the Loan <br />Agreement, the Note, the HOME Program Regulatory Agreement, or this <br />Deed of Trust; <br />(e) The Property is refinanced or encumbered in violation of the Loan <br />Agreement, the Note, the HOME Program Regulatory Agreement, or this <br />Deed of Trust; <br />(f) Trustor fails to maintain insurance on the Property as required by the Loan <br />Agreement, the Note, the HOME Program Regulatory Agreement, and this <br />Deed of Trust, <br />(g) Subject to Trustor's right to contest the following charges, Trustor fails to <br />pay prior to delinquency taxes or assessments due on the Property or fails <br />to pay when due any other charge that may result in a lien on the Property, <br />and Trustor fails to cure such default within twenty (20) days of date of <br />delinquency, but in all events upon the imposition of any such tax or other <br />lien; <br />(h) Trustor declares bankruptcy or makes an assignment of assets for the benefit <br />of creditors, or an order for relief is entered under federal bankruptcy laws <br />as to Trustor, or Trustor is adjudicated as insolvent or bankrupt pursuant to <br />the provisions of any state or federal insolvency or bankruptcy, or Trustor <br />consents to, acquiesces in, or attempts to secure the appointment of, any <br />receiver for all or any substantial part of the Property; <br />(i) The occurrence of an event of default under any loan secured by the <br />Property and the continuance of such default beyond the expiration of all <br />applicable cure periods such that the holder of such loan has the right to <br />accelerate such loan. <br />Deed of Trust Securing Performance <br />1619\0113026818.1 <br />SF #4828-5596-4108 v3 <br />REV: 05-19-20215K <br />