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Development or limit the right of any person to name the Maker or any other person claiming an <br />interest in or right to such collateral as party defendant in any action or suit for judicial foreclosure <br />or in the exercise of any other remedy, including injunctive or other equitable relief, under any of <br />the loan documents executed in connection with this Development so long as no deficiency <br />judgment shall be sought against the Maker. <br />The foregoing limitation shall not apply to any and all loss, damage, liability, action, cause of <br />action, cost or expense (including without limitation, reasonable attorneys' fees and expenses) to <br />the extent incurred by Payee as a result of any: <br />A. Fraud or material misrepresentation under or in connection with the loan or any <br />loan document executed in connection with the Development; <br />B. Intentional bad faith waste of the Property by the Maker; <br />C. Losses resulting from Maker's failure to maintain insurance as required under the <br />Deed of Trust; or <br />D. Misappropriation of any rents, security deposits, insurance proceeds, condemnation <br />awards or any other proceeds derived from the collateral security by the Maker. <br />If any of the events listed in the foregoing (A) through (D) occurs, Payee shall have the right to <br />proceed directly against Maker at the time the event giving rise to the recourse liability occurred <br />to recover any and all loss, damage, liability, action, cause of action, cost or expense (including <br />without limitation, reasonable attorneys' fees and expenses) incurred by Payee. <br />16. Nonliabilityof Maker and PUee Officials and Employ. <br />A. No partner, official or employee of the Payee shall be personally liable to the Maker <br />in the event of any default or breach by the Agency or on any obligations under the terms <br />of this Note. <br />B. No member, official or employee of the Maker shall be personally liable to the <br />Payee in the event of any default or breach by the Maker or for any amount which may <br />become due to the Payee or on any obligations under the terms of this Note. <br />REV: 05-07-25 LF <br />(Signature page follows) <br />ATT /Al M nAn= 4AA 41UMA= 0%1 /A4� Q�....d... —k o...mi..nr.... AL.{..\ /On.... A ..f=\ <br />