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�01007�3� <br />(xi) Repeated or prolonged failure to pravide reports required by Articles VIII <br />and IX; or <br />(xii) No Tax Credit Inv�star makes an equity investxnent in the Qwner in <br />exchange for the Tax Credits ar portian thereof. <br />Sec#ion 10.2. Remedics on� Defanit <br />(a) The Authority shall have the right ta exercise any of the following remedics upon <br />an Event of Default: <br />(i) Temporaxily suspend rnakin� disbursements of the Subaward under this <br />Agreement pending correction ofthe deficiency or default by the Owner; <br />(ii) Cease rnaking any fw disbuxsements of the Subawaxd under this <br />Agreement; <br />(iii) Terminate this Agreement; <br />(iv) If the Event of Default is a Recapture Ev�nt, require the imrnediate <br />payment af the Recapture Amount; <br />(v) Declare the Owner and/or the managing member of the Owner (ox the <br />affiliates oF the managing member of the Owner) nat t� be in good standing for <br />purpose of the Authority's programs; or <br />(vi) Exercise any other rights and remedies that may be available under law or <br />in equity. <br />(b) The Authority sha11 defer the enfvrcernent of remedies upan the occurrence of an <br />Event of Default far such period as it determines appropriaCe, if it determines that the Tax Credit <br />Tnvestor or the Lender is taking approp�iate measures to carrect the circumstances giving rise to <br />the Event af Default. <br />(c) Each right and rer�nedy provided in this Agreement is distinct from all other rights <br />ar remedies under this Agreement, ox the LURA, the Recapture Deed of Trust ar atherwise <br />afFarded by applicable law, and each shall be cumulative and rnay be exercised concurrently, <br />independently, or successively, in any oxder. <br />Section 10.3. Third-PartY__R.i�hts to Notice and Curc <br />The Authority shall pravide the Tax Credit Investor and the Lender with a copy of any <br />written natice of default provided to the Qwner pursuant to the terms of this Article XT. The <br />Autharity hereby agrees that any cure of any default rnade or tendered by the Tax Credit Investor <br />or the Lender shall be deemed to be a cure by the Owner and shal} be accepted ar rejected on the <br />sarne basis as if such cure were made or tendered by the Owner. <br />-19- <br />asa�-2i3s-aars.z <br />