Agmt25 CDBG Loan Agreement - Moreno

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applicable cure period such that the holder of such security instrument has the right to accelerate repayment of such loan. (h) Borrower is the subject of an order for relief by a bankruptcy court, or is unable or admits Borrower's inability to pay Borrower's debts as they mature, or makes an assignment for the benefit of creditors; or Borrower applies or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or any part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of Borrower and the appointment continues undischarged or unstayed for 60 days; or Borrower institutes or consents to any bankruptcy, insolvency, reorganization, arrangement, readjustment of debt, dissolution, custodianship, conservatorship, liquidation, rehabilitation or similar proceeding relating to Borrower or any part of the Property; or any similar proceeding is instituted without the consent of Borrower and continues undismissed or unstayed for 60 days. (i) Subject to Borrower's right to contest the following charges, Borrower's failure to pay taxes, registration fees, or assessments due on the Property or the improvements or failure to pay any other charge that may result in a lien on the Property or the improvements, and Borrower's failure to cure such default within ninety (90) days of delinquency, but in all events prior to the date upon which the holder of any such lien has the right to foreclose thereon. Section 13. Remedies. (a) The occurrence of any Default following the expiration of all applicable notice and cure periods, if any, will, either at the option of the Lender or automatically where so specified, relieve the Lender of any obligation to make or continue the Loan and will give the Lender the right to proceed with any and all remedies available under law, in equity, or set forth in this Agreement and the Loan Documents, including but not limited to the following: (i) Acceleration of Promissory Note, The Lender may cause all indebtedness of Borrower to the Lender under this Agreement and the Promissory Note, together with any accrued interest thereon, to become immediately due and payable. Borrower waives all rights to presentment, demand, protest or notice of protest or dishonor. The Lender may proceed to enforce payment of the indebtedness and to exercise any or all rights afforded to the Lender as a creditor and secured party under the law including the Uniform Commercial Code, including foreclosure under the Deed of Trust. Borrower is liable to pay the Lender on demand all reasonable expenses, costs and fees (including, without limitation, reasonable attorneys' fees and expenses) paid or incurred by the Lender in connection with the collection of the Loan and the preservation, maintenance, protection, sale, or other disposition of the security given for the Loan. REV: 10-02-25 LF ATTY/AGR.2025.255/Habitat for Humanity (142 Center (Moreno) CDBG Loan Agreement) (Page 7 of 21)