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q, x.21 <br />affordable and available to very low income households at or below Fifty percent <br />(50 %) of area median income, the entire amount of the Agency Loan shall become <br />due and payable. Payor acknowledges that units within the Property will not be <br />converted to condominiums within the first ten (10) years after completion of the <br />rehabilitation of the Property by Payor. Should a conversion of the Property, or <br />any part thereof, to condominiums take place, the entire Agency Loan shall be due <br />and payable. <br />This Promissory Note or any portion of it may not be prepaid unless agreed upon, <br />at Payee's sole and entire discretion, in writing by Payee. <br />Principal is payable in lawful money of the United States of America. In event of <br />default, Payor agrees to pay such sum as a Court of competent jurisdiction may fix as <br />costs and attorney's fees. <br />Upon maturity of this Promissory Note under its terms or due to acceleration of this <br />Promissory Note as set forth herein, Agency shall be paid back the principal balance of <br />the Agency Loan. <br />MP REDWOOD COURT ASSOCIATES <br />By: Mid - Peninsula Coalition Monte Vista <br />Terrace Corporation, its general <br />partner. <br />Un <br />Its: <br />DO NOT DESTROY THIS NOTE. WHEN THIS NOTE IS FULLY PAID, IT MUST <br />BE SURRENDERED TO THE TRUSTEE ALONG WITH THE ORIGINAL DEED OF <br />TRUST FOR CANCELLATION AND ISSUANCE OF A RECONVEYANCE. <br />-2- <br />03/03/2003 <br />