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ATTY/RESO.0020/CC RESO APPROVING AMENDMENTS TO HPP GUIDELINES – EXHIBIT B REV: 05-04-26 LF Page 39 of 86 or in the exercise of any other remedy, including injunctive or other equitable relief, under any of the loan documents executed in connection with this Development so long as no deficiency judgment shall be sought against the Maker. The foregoing limitation shall not apply to any and all loss, damage, liability, action, cause of action, cost or expense (including without limitation, reasonable attorneys’ fees and expenses) to the extent incurred by Payee as a result of any: A. Fraud or material misrepresentation under or in connection with the loan or any loan document executed in connection with the Development; B. Intentional bad faith waste of the Property by the Maker; C. Losses resulting from Maker’s failure to maintain insurance as required under the Deed of Trust; or D. Misappropriation of any rents, security deposits, insurance proceeds, condemnation awards or any other proceeds derived from the collateral security by the Maker. If any of the events listed in the foregoing (A) through (D) occurs, Payee shall have the right to proceed directly against Maker at the time the event giving rise to the recourse liability occurred to recover any and all loss, damage, liability, action, cause of action, cost or expense (including without limitation, reasonable attorneys’ fees and expenses) incurred by Payee. 16. Nonliability of Maker and Payee Officials and Employees. A. No partner, official or employee of the Payee shall be personally liable to the Maker in the event of any default or breach by the Agency or on any obligations under the terms of this Note. B. No member, official or employee of the Maker shall be personally liable to the Payee in the event of any default or breach by the Maker or for any amount which may become due to the Payee or on any obligations under the terms of this Note. MAKER / BORROWER: [INSERT BORROWER NAME, Insert State business entity type] By: By: Name: Title: