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201007863 <br />(xi) Repeated or prolonged failure to provide re�parts required by Articles V�IT <br />and IX; or <br />(xii) No Tax Credit Investor makes an equity investment in the Owner in <br />exchange for the Ta7c Credits or portion thereof. <br />SeGtior� 10.2. Remedies an Default <br />(a) The Authority shall have the right to exercise any of the following remedies upon <br />an Event of Default: <br />(i) Tcmporarily suspend making disbursements of the Subaward under tlus <br />Agreement pending correction of the dcficiency ar default by the Owner; <br />(ii) C�ase making any further disbursements of the Subaward under this <br />Agreement; <br />(iii) Ternunate this Agreement; <br />(iv) If the Event af Default is a Recaptuxe Event, require the immediate <br />payment af the Recapture Amount; <br />(v) Declare the Owner and/or any managing member of the �wner (or <br />Aff liates of the managing member of the Owner) not to be in gaod standing far <br />purpose af the Authority's programs; or <br />(vi) Exercise any other rights and remedies tlaat may be available under law or <br />in equity. <br />(b) The Authority shal] de:fer the enforcement of remedies upon the occurrence of an <br />Event of Default for such period as it determines appropriate, if it detern�ines that the Tax Credit <br />Investar or the LendeY is taking appropriate measuxes to cvrrect the circumstances giving rise ta <br />the Event of`llefault. <br />(c) Each right and remedy provided in this Agreement is distinct from all other rights <br />ar remedies under this Agreement, ar th� LUR.A, the Recapture Deed of Trust or otherwis� <br />afforded by applicable law, and each shall be cumulativc and may be exercised conauxrently, <br />independently, or successively, in any order. <br />Se�tian 10.3. Third-Pa Ra �ts to Notice and Carc <br />The Authority shali provide the Tax Credit Investor with a copy of any written notice af <br />default pmvided to the Owner pursuant to the terms of this Article XI. The Autharity hereby <br />agrees that any cure af any default made or tendered by the Ta�c .Credit Investor shall be deemed <br />to be a cure by the Owner and shall b� accepted or rejected on the same basis as if such cure <br />were made ar tendered by the Owrier. <br />-19- <br />4848-2332-1094.2 <br />