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132435584v2 <br /> <br /> <br /> 17 <br /> <br />and shall pay the prepayment price when due to the Lender. The Issuer hereby authorizes the <br />Borrower to give mailed notice of prepayment and, if required by law, published notice of <br />prepayment of the Note in the name of the Issuer, from time to time. <br />On any principal payment date as set forth in the Note on which there is an amount in the <br />Capital Campaign Account that is in excess of the amount necessary to pay the principal and <br />interest due on such date, then such excess amount shall be applied as a prepayment on the Note <br />on such principal payment date. No prepayment penalty or premium shall apply to any <br />prepayment made from amounts on deposit in the Capital Campaign Account. <br />ARTICLE VI <br /> <br />EVENTS OF DEFAULT AND REMEDIES <br />Section 6.1 Events of Default. Any one or more of the following events is an Event of <br />Default under this Agreement: <br />(1) If the Borrower shall fail to make (a) any payments required under <br />Section 3.4 of this Agreement on the date due as set forth in the Note, or (b) any other payment <br />due under this Agreement on or before the date that the payment is due and such default <br />continues for ten (10) days thereafter, following notice to Borrower. <br />(2) If the Borrower shall fail to observe and perform any other covenant, <br />condition or agreement on its part under this Agreement for a period of thirty (30) days after <br />written notice, specifying such default and requesting that it be remedied, given to the Borrower <br />by the Issuer or the Lender, unless the default does not consist of the non-payment of money and <br />cannot reasonably be cured within thirty (30) days and the Lender shall agree in writing to an <br />extension of such time prior to its expiration, or for such longer period as may be reasonably <br />necessary to remedy such default provided that the Borrower is proceeding with reasonable <br />diligence to remedy the same, and provided that such longer period does not place the Project at <br />material risk. <br />(3) If the Borrower shall file a petition in bankruptcy or for reorganization or <br />for an arrangement pursuant to any present or future federal bankruptcy act or under any similar <br />federal or state law, shall consent to the entry of an order for relief pursuant to any present or <br />future federal bankruptcy act or under any similar federal or state law, or shall make an <br />assignment for the benefit of its creditors or shall admit in writing its inability to pay its debts <br />generally as they become due, or if a petition or answer proposing the entry of an order for relief <br />of the Borrower under any present or future federal bankruptcy act or any similar federal or state <br />law shall be filed in any court and such petition or answer shall not be discharged or denied <br />within ninety (90) days after the filing thereof, or a receiver, trustee or liquidator of the Borrower <br />of all or substantially all of the assets of the Borrower, or of the Project shall be appointed in any <br />proceeding brought against the Borrower and shall not be discharged within ninety (90) days <br />after such appointment or if the Borrower shall consent to or acquiesce in such appointment, or if <br />the estate or interest of the Borrower in the Facility or a part thereof shall be levied upon or <br />attached in any proceeding and such process shall not be vacated or discharged within ninety