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200804831 6.6 Reimbursement Agreement. The occurrence of an Event of Default under the Reimbursement Agreement (after giving effect to any applicable notice and cure provisions set forth therein) ARTICLE 7. BANK'S REMEDIES Immediately upon or any time after the occurrence of any Event of Default hereunder and after any applicable cure period has expired, Bank may exercise any remedy available at law or in equity, including but not limited to those listed below and those listed in the Reimbursement Agreement and the other Loan Documents, in such sequence or combination as Bank may determine in Bank's sole discretion: 7.1 Performance of Defaulted Obligations. Bank may make any payment or perform any other obligation under the Reimbursement Agreement or the Loan Documents which Borrower has failed to make or perform, and Borrower hereby irrevocably appoints Bank as the true and lawful attorney-in-fact for Borrower to make any such payment and perform any such obligation in the name of Borrower, which appointment is coupled with Bank's interest in the Property and the Collateral. All payments made and expenses (including reasonable attorneys' fees and legal assistant's fees) incurred by Bank in this connection, including any amounts in excess of the Loan Amount, together with interest thereon at the Default Rate, as set forth in the Note, from the date paid or incurred until repaid, will be part of the Secured Obligations and will be immediately due and payable by Borrower to Bank. 7.2 Specific Performance and Injunctive Relief. Notwithstanding the availability of legal remedies, Bank will be entitled to obtain specific performance, mandatory or prohibitory injunctive relief, or other equitable relief requiring Borrower to cure or refrain from repeating any default. 7.3 Acceleration of Secured Obligations. Bank may, without notice or demand, declare all of the Secured Obligations immediately due and payable in full. 7.4 Possession of Property. Bank may enter and take possession of the Property without seeking or obtaining the appointment of a receiver, may employ a managing agent for the Property, and may complete the development and construction described in the Reimbursement Agreement with respect to all or any part of the Property, either in Bank's name or in the name of Borrower. 7.5 Enforcement of Securitv Interests. Bank may exercise all rights of a secured party under the Code with respect to the Collateral, including but not limited to taking possession of, holding, and selling the Collateral and enforcing or otherwise realizing upon any accounts and general intangibles. Any requirement for reasonable notice of the time and place of any public sale, or of the time after which any private sale or other disposition is to be made, will be satisfied by Bank's giving of such notice to Borrower at least fifteen (15) days prior to the time of any public sale or the time after which any private sale or other intended disposition is to be made. If permitted by statute or court decision, the Collateral may be sold by the Trustee as part of the foreclosure sale of the Property. I 03209-606 I 7-957802vS 15 us Bank / Riverocnd Apartments Phase I Deed of Trust