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2024 CDBG Subrecipient Agreement <br />Promissory Note <br />Exhibit "D" <br />notice of such default. Maker shall have a period of ten (10) days after such notice is given within <br />which to cure the default before exercise of remedies by Holder under the Loan Documents, or such <br />longer period of time as may be specified in the Loan Documents. A default in payment of any amount <br />due hereunder may be cured only by payment in full of such amount plus the interest accrued from <br />the date of default, as stated above, on the unpaid principal balance as of the date of default until the <br />date of payment resulting from application of a default rate of interest as provided herein, if any, that <br />may be due hereunder or under any instrument relating to or securing this Note, plus any attorneys' <br />fees incurred by the Holder by reason of such default. <br />B. Curing of Nonmonetary Default. If a nonmonetary event of default occurs under the terms <br />of any of the Loan Documents, prior to exercising any remedies thereunder, Holder shall give Maker <br />written notice of such default. If the nonmonetary default is reasonably capable of being cured within <br />thirty (30) days, Maker shall have such period to effect a cure prior to exercise of remedies by Holder <br />under the Loan Documents, or such longer period of time as may be specified in the Loan Documents <br />If the default is such that it is not reasonably capable of being cured within thirty (30) days or such <br />longer period if so specified, and if Maker in the reasonable determination of Holder (a) initiates <br />corrective action within said period, and (b) diligently, continually, and in good faith works to effect a <br />cure as soon as possible, then Maker shall have such additional time as Holder determines is <br />reasonably necessary to cure the default prior to exercise of any remedies by Holder. In no event shall <br />Holder be precluded from exercising remedies if its security becomes or is about to become materially <br />jeopardized by any failure to cure a default or if the default is not cured within sixty (60) days after <br />the first notice of default is given, or such longer period of time as may be specified in the Loan <br />Documents. <br />8. Nonwaiver. Failure to exercise any right the Holder may have or be entitled to in the event of <br />any default hereunder shall not constitute a waiver of such right or any other right in the event of any <br />subsequent default. <br />9. Waiver of Presentment. The Maker and all guarantors and endorsers hereof hereby severally <br />waive presentment for payment, protests, and demand, notice of protest, demand, dishonor, and <br />nonpayment of this Note, and consent that the Holder hereof may extend the time of payment or <br />otherwise modify the terms of payment of any part or the whole of the debt evidenced by this Note, by <br />agreement between the Holder and Maker, and such consent shall not alter or diminish the liability of any <br />person or the enforceability of this Note. Each and every party signing or endorsing this Note binds itself <br />as a principal and not as a surety. This Note shall bind the undersigned and its successors and assigns, <br />jointly and severally. <br />10. Security for Note. This Note is secured by a Deed of Trust (the "Deed of Trust") of even date <br />herewith granted by Click or tap here to enter text, ("Agency"). <br />11. Collection Costs. Maker agrees to pay all costs, including reasonable attorneys' fees, incurred <br />by Holder hereof in any suit, action, or appeal therefrom, or without suit, in connection with collection <br />hereof, foreclosure of the Deed of Trust, or enforcement of any instrument securing payment hereof or <br />otherwise relating to or securing this Note. <br />12. Maximum Interest. Neither this Note nor any instrument securing payment hereof or <br />otherwise relating to the debt evidenced hereby shall require the payment or permit the collection of <br />2of4 <br />