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4 by the Borrower against the City to enforce its rights under this Agreement) or (ii) any hazardous substance located in or on the Property. (c) The Indemnified Parties shall not be liable for any damage or injury to the persons or property of the Borrower or its officers, agents, servants or employees or any other person who may be about the Property due to any act of negligence of any person, other than any act of willful misconduct or gross negligence on the part of any such Indemnified Party or its officers, agents, servants or employees. (d) All covenants, stipulations, promises, agreements and obligations of the City contained herein shall be deemed to be the covenants, stipulations, promises, agreements and obligations of the City, respectively, and not of any governing body member, officer, agent, servant or employee of the City in the individual capacity thereof. (e) The provisions of this Section 4.2 shall survive the termination of this Agreement. Section 4.3 Real Property Taxes. The Borrower shall pay all real property taxes with respect to all parts of the Property owned by it which are payable pursuant to the provisions of any statutory or contractual duty that shall accrue until title to the Property is vested in another person. Section 4.4 Compliance with the Act and the Grant Agreement. The Borrower hereby covenants and agrees that it shall comply with all applicable requirements of the Act and the Grant Agreement. The City hereby covenants and agrees that it shall comply with all applicable requirements of the Grant Agreement. The Borrower must comply with all applicable requirements in the Grant Agreement. A default by the Borrower as the Project Owner (as defined in the Grant Agreement) under the Grant Agreement will constitute noncompliance with this Loan Agreement. If the City finds that there has been a material failure to comply with the provisions of this Loan Agreement, the City may take action to protect its interests, including refusal to disburse additional funds and acceleration of the Loan. If action to correct such default is not taken by the Borrower within ninety (90) calendar days (or such longer period as is reasonably necessary and approved by the City) after being notified by the City, the City may terminate this Loan Agreement. Termination does not alter Borrower’s obligation to repay any Loan funds due to the City as a result of a default under the terms of this Loan Agreement. The City agrees that a cure of an event of default under this Loan Agreement made or tendered by the Borrower’s Investor Limited Partner (as defined herein) or its designee shall be accepted or rejected on the same basis as if such cure was made or tendered by the Borrower and, to the extent accepted, shall be deemed to be a cure by Borrower hereunder. A default by the City of its obligations under the Grant Agreement shall not constitute a default under this Agreement, the Note or any document in connection with the Loan. Notwithstanding any contrary provision of this Loan Agreement, if for any reason (except to the extent caused by the City’s willful misconduct or gross negligence) the