Laserfiche WebLink
i <br /> principal balance as of the date of default until the date of payment resulting from application <br /> of a default rate of interest as provided herein, if any, that may be due hereunder or under any <br /> instrument relating to or securing this Note, plus any attorneys' fees incurred by the Holder by <br /> reason of such default. <br /> B. Curing of Nonmonetary Default. If a nonmonetary event of default occurs under the <br /> terms of any of the Loan Documents, prior to exercising any remedies thereunder, Holder <br /> shall give Maker written notice of such default. <br /> If the nonmonetary default is reasonably capable of being cured within thirty (30) days, Maker <br /> shall have such period to effect a cure prior to exercise of remedies by Holder under the Loan <br /> Documents, or such longer period of time as may be specified in the Loan Documents. If the <br /> 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) <br /> initiates corrective action within said period, and (b) diligently, continually, and in good faith <br /> works to effect a cure as soon as possible, then Maker shall have such additional time as <br /> Holder determines is reasonably necessary to cure the default prior to exercise of any <br /> remedies by Holder. In no event shall Holder be precluded from exercising remedies if its <br /> security becomes or is about to become materially jeopardized by any failure to cure a default <br /> or if the default is not cured within sixty (60) days after the first notice of default is given, or <br /> such longer period of time as may be specified in the Loan Documents. <br /> C. Notice and Cure By Investor Limited Partner. Any notice of default shall be <br /> provided simultaneously to Maker and Wincopin Circlee LLLP, a Maryland limited liability <br /> limited partnership, its successor and assigns, ("Investor Limited Partner"). Maker shall be <br /> responsible for providing the Holder with the name and address of such party. If Maker fails <br /> to update the Holder with the name and address of Investor Limited Partner, any notice of <br /> default provided by the Holder shall be deemed sufficient if sent to the most recent name and <br /> address on file for the investment limited partner and/if applicable special limited partner. <br /> Holder shall accept or reject any tender of cure by Maker's Investor Limited Partner on the <br /> same terms and conditions as Holder would accept or reject such tender of cure by Maker. <br /> 7. Nonwaiver. Failure to exercise any right the Holder may have or be entitled to in the <br /> event of any default hereunder shall not constitute a waiver of such right or any other right in the <br /> event of any subsequent default. <br /> 8. Waiver of Presentment. The Maker and all guarantors and endorsers hereof hereby <br /> severally waive presentment for payment, protests, and demand, notice of protest, demand, <br /> dishonor, and nonpayment of this Note, and consent that the Holder hereof may extend the time <br /> of payment or otherwise modify the terms of payment of any part or the whole of the debt <br /> evidenced by this Note, by agreement between the Holder and Maker, and such consent shall <br /> not alter or diminish the liability of any person or the enforceability of this Note. Each and every <br /> party signing or endorsing this Note binds itself as a principal and not as a surety. This Note shall <br /> bind the undersigned and its successors and assigns, jointly and severally. <br /> 9. Security for Note. This Note is secured by a Deed of Trust (the "Deed of Trust") of <br /> even date herewith granted by HopeWorks Station Residential LLLP, ("Owner"), through an <br /> Assignment Assumption and Consent Agreement of even date, between Maker and Owner. <br /> Owner will assume all of the obligations of this Promissory Note and the HOME Loan Agreement <br />