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32 Little Canada-Lupe - Borrower Loan Agreement - LC Apartments(199386221.3) - 5/12/2026 6:38:21 PM that Controlling Person consent in writing to the release of the Payment and Performance Bonds following achievement of Completion. Section 6.37 Extension of the Outside Stabilization Date. (a) The Borrower may, upon thirty (30) days prior written notice to the Controlling Person, extend the deadline for the Project Facilities to achieve Stabilization so long as: (1) there is no Default or Event of Default beyond any applicable cure period under the Funding Loan Documents and the Borrower is then in compliance with its obligations under the Borrower Loan Documents; (2) the extended deadline for the achievement of Stabilization is no later than six months after the initial Outside Stabilization Date; and (3) Not less than thirty (30) days prior to the initial Outside Stabilization Date, an extension fee is paid to the Controlling Person equal to 0.25% times the principal amount of outstanding amount of the Borrower Note and the Direct Note outstanding at the time such fee is paid; and (4) the Borrower certifies in writing to the Controlling Person that cash flows generated from property operations and/or funds on deposit with the Fiscal Agent (or other sources approved by the Controlling Person) will be sufficient to pay debt service during the term of the extension. (b) [Reserved]. ARTICLE 7 DEFAULTS AND REMEDIES Section 7.1 Defaults. Each of the following shall constitute an event of default hereunder (“Event of Default”): (a) Failure by the Borrower to pay any amount required to be paid by the Borrower under this Agreement, the Borrower Note or any of the other Funding Loan Documents when the same shall become due and payable; (b) Failure by the Borrower to perform or comply with any of the terms or conditions contained in Section 6.1, 6.11 or 6.12 hereof; (c) Failure by the Borrower to perform or comply with any of the terms or conditions contained in this Agreement and any of the other Funding Loan Documents to which the Borrower is a party, other than as described in paragraphs (a) and (b) above, and continuation of such failure for thirty (30) days (or such other period of time as may be applicable under the Funding Loan Documents) after written notice from the Funding Lender or the Controlling Person to the Borrower (with a copy to the Investor Limited Partner, or such longer period to which the Controlling Person may agree in the case of a default not curable by the exercise of due diligence within such thirty (30) day period, if the Borrower, the General Partner or the Investor Limited Partner shall have commenced a cure of such default within such thirty (30) day period and shall be diligently pursuing such cure as quickly as reasonably possible;