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201007863 or twenty (20) Business Days (in the case of a nan-mpn�tary default) follawin� notice of such breach or default from the Authority to the Owner, nrovided however, that if a non-manetary default cannat reasonably be cured within twenty (20) Business Days and the Ovmer commenc�s a cure within twenty (20) Busin�ss Days and proceeds in good faith to effect such cure thereaf't�r, the cure period with respect to such breach or default shall be extended for up ta the lesser of (x) an additional thirty (3�0) Busin�ss Days or (y) the latest pennissihle date for correction of the applicable breach under the Program Requirements without causing a Recapture Event; (ii) The commencement of foreclosur� proceedings with respect to any Deed of Trust which has not been withdrawn or dismissed within thirty (30) calendar days aft�r the date of such commencement; (iii) The Owner's failure to perforni any term or condition of this Agreement; provided, however, that if a cure period is provided for the remedy of such failure, Qwner's fs�ilure to perform will not constitute an Event of Default until such date as the speci�ied sure period expires; (iv) A violation of any law, regulation ox order applicablc to th� Owner or the Praject that has ar mi�ht reasonably be expected to have a material adverse impact on the operation of the Project and is not cured within the applicable cure period, if any, provided in such law, regulatian, or order; or (v) A default has occurred under the LUR.A., which is nat cured within the time period for cure as provided therein; or (vi) Gross neglige�tce, fraud, wiliful miscanduct, misappropriation nf the Subaward, or criminal activity by the Owner; (vii) A Reeapture Event shall occur and the Recapture Amaunt due in connection therewith shall remain unpaid for a period of ten (10) Business Days after notice thereof fronz the Authority ar Treasury, unless a later date is specifierl in such notice; (viii) The Owner fails ta comply with the Construction/Draw Schedule set farth in Exhibit F and the Authority has determined that the Project cannot be completed by the Placed In-Service 1]ate; (ix) A breach by the Owner of any or its representations, warranties and covenants contain.ed in this A$reement that has a material advexs� impact on the Project; (x) The Owner fails to timely execute an amendment to this Agreement in such form as the Authority requires because of changes to the Program Requirements; -18- 4848-2332-1094.2