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�01007�37 ARTICLE X DEFAULT• TERMINATION Section 10.1, Default (a) Any pf the fol]owing evcnts sh;all constitute an Event of Default under this Agreement: (i) A breach by the Owner of any of its representations, warranties or covenants contain�d in this Agreement or in the performance of any of its �bligations under this Agreement, in either event that (A) has or might r�asonably be expected to have a material adverse irnpact on the operation of the Praject, and (B) is not cured within ten (] 0) Business Days (in the case of a monetary default) ox twenty (20) Business Days (in the case of a non-manetary default) following notice af such breach ar default fram the Authority to the Owner, provide�l however, that if a non-monetary default cannat reasonably be cured within twenty (20) Business Days and the Owner comrnences a cure within twenty (2Q) Business Days and proceeds in good faith to effect such cure thereafter, the cure period with respect to such brcach or default shall be extended for up to the lesser af (x) an additional thirty (30) Business Days or (y) the latest permissible date for correction of the applicable breach under the Program Requirernents without causing a Recapture Event; (ii) The commencement of fareclosure proceedings with respect to any Deed of Trust which has not been withdrawn or dismissed within thirty (30) calendar days after the date of such commencement; (iii) The Owner's failure to perfarm any term or condition of this Agreement; provided, however, that if a cure period is provided for the remedy of such failure, Owner's failuxe to pexforrn will not constitute an Event of Default until such date as the specified sure period expires; {iv) A violation of any law, regulation or order applicable to the Owner or the Project that has or mi�ht reasonably be expected ta have a znaterial adverse impact on the operation of the Project and is not cured within the applicable cure period, iFany, provided in such law, regulation, or axder; or (v) A default has occurred under the LURA, which is not cured withrn the time period far cure as provided therein; or (vi) Gross negligence, fraud, willful misconduct, misappropriation of the Subaward, or criminal activity by the Owner; (vii) A Recapture Evcnt shall occur and the Recapture Amount due in connection therewith shall remain unpaid for a period af ten (10) Business Days after notice thereof from the Authority or Treasury, unless a later date is specified in such notice; 4846-6923-1367.3 -18-