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201007863 <br />(}�) If a Recapture Event shall nccwr, the applicable portion of ttie Subaward disbursed <br />to th� Owner shall b� subject to `5recapture" in the amounts set forth below (the "Rccaptur� <br />Amount"). <br />(i) If the Recapture Event arises under Section. 6. l(a)(vi) and (vii) abov�, <br />after allowing any permitted p�riod for correction, the Recapture Amount shall be <br />equal to the full �mount aF the Subawazd, less 6.b'7% for each year of the <br />Compliance P�riod in which a Recaptuare Event has not occurred; provided, <br />howev�r, that if the Owner restores (A) the percentage of Low-Tncome Units ta the <br />Required Pcrcentage and/or (B) the Prcaject as a"qualified low-income housing <br />project," as applicable, the Recapt�ure Event and any Recapture Amount may be <br />waived by the Authority with respect to subsequen,t years in the Compliance Period <br />in which the Pxoject is in compliance, providec� that sucla waiver is permitted under <br />the Program Requirements. <br />(ii) If the Recapturc Event at�ises under Section 6.1(a)(i) (ii), (iii), (iv), or (v) <br />above, the R�capturc Amount shall be an amount equal ta thc Full amount of the <br />Subaward disbursed tp the Qwner under the tenns of this Agreement. <br />(iii) If the Recapture Event arises under Scction 6.1(a)(viii) above, the <br />Rec�pture Amount shall be an amount equal ta the amount of the Subawazd <br />deternnined tn have been expendcd in violation of th� Program Requirements. <br />(c) If a Recapture Event occurs, in addition to the �.ecapture Amount, the Owner wiil <br />pay ta the Authority upan demand an amaunt equal to the costs and fees incurred by the <br />Authority in connection with such Recapture Ev�nt. <br />SecHan GZ. Enfarcement <br />(a) The Recapture Amount shall be due and paya;ble to the Gencral Fund of Treasury <br />and shall be deemed a debt owed to the Treasury, enfor�eable against any assets af the Owr�er. <br />Such Recapture Amount shall be secured a�nd enforceable by the lien of the Recapture Decd af <br />Trust against the Project in favor of the Treasury, which lien may be en�orced by the Authority <br />an behalf of the Treasury. <br />(b) [Intentionally Omitted]. <br />(c) Unless another date is specifically �x�d by law, the lien imposed hereunder shall <br />arise at the time the Recapture Amount becomcs due and shall continue until liability for the <br />Recaptuce Amount is satisfied in full. <br />(d) The lien of the Recapture Decd of Trust shall be subordinate to the Mortgage <br />Loan and such priarity shall be reflected upvn recardation. <br />Section 6.3. Notice <br />The Authority shall prov�de the Owner with written notice in accordance with <br />Sectian 11.1 af any Recapture Event ar of any circumstances which, with the passage of time, <br />-12- <br />d848-2332-1094.2 <br />