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�o��o�s�� (c) Unless another date is specifically fixed by lav�r, the lien imposed hereunder shall arise at the time the Recapture Amount becomes due and shall continue until liability for the Recapture Amount is satisfied in full, (d) The lien of the Recapture Deed of Trust shall be subordinate ta the Mortgage Loan as set forth an Exhibit B and such priority shall be reflected upon recordation. Section 6.3. Notice The Authority shall provide the Qwner with written natice in accordance with Sectian 1 l,1 of any Recapture Event or of any circumstances which, with the passage of time, would give rise to a Rccapture Event, of which, in eithex event, it shall become aware of, Upan the giving of notice ta the Owner, Che Authority shall also provide copies of any such notice(s) to the Tax Credit Investar and the Lender. The failure of the Authority to provid� notice as herein required shall not relieve the Owner of any obligation hereunder or prevent the d�claration or accurrence of a Recapture Event, nor shall it s�rve to reli�ve the Owner o.f any of the consequences thereof. Section 6,4. Pr�servatiun of Ri hts and Remedies Any action under this Article VI vvill not limit or deprive the Authority ar the Treasury frorn exercising any other rights and remedies that they have under law or equity, or any rights and remedies provided herein with respect to Events oFDefault. ARTICLE V�I REPRESENTATIONS AND WARRANTIES Sectian '7.1. Re resentations Warranties and Covenants of the Owner The Owner hereby represents, warrants and covenants to the Authority that the following are true and correct as af Closing and will be true and correct on the due date of each disbursernent af the Subaward, and as applicable, throughout the Compliarice Period: (a) The Qwner is and shall cnntinue to be duly organized, validly existing and in good standings under the laws of the state of its organization and has full power and authority to perfarm its obligations under this Agreernent. (b) No litigation, dernand, investigation, claim or proceeding against the Owner or any oCher litigation or proceeding directly affecting the Project is pending or, to the best knowledge of the Owner, threatened, befare any court, adrninistrative agency or other Governmental Authority that would, if adversely determined, have a material adverse effect on thc Owner or the construction, use and operation of the Project. (c) No default by Che Owner or any affiliate thereof having any relationship with the Project has occrarred or is continuing (nor has there occurred any continuing evcnt which, with the giving of notice or the passage of time or both, would COriSt]C11tB such a default in any material respect) under any of the �na�lcing documents for the Prnject or other docurnents ar instruments goveining the development, use, occupancy and operatian of the Project. 13 4846-6923-1367.3