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6 (2) make an assignment for the benefit of its creditors; or (3) admit in writing its inability to pay its debts generally as they become due; or (4) be adjudicated a bankrupt or insolvent; or if a petition or answer proposing the adjudication of the Borrower as a bankrupt or its reorganization under any present or future federal bankruptcy act or any similar federal or state law shall be filed in any court and such petition or answer shall not be discharged or denied within ninety (90) days after the filing thereof; or a receiver, trustee or liquidator of the Borrower or of the Property, or part thereof, shall be appointed in any proceeding brought against the Borrower, and shall not be discharged within ninety (90) days after such appointment, or if the Borrower shall consent to or acquiesce in such appointment. Wells Fargo Affordable Housing Community Development Corporation, the investor limited partner of Borrower (the “Investor Limited Partner”) shall have the right, but not the obligation, to cure any Event of Default by Borrower under this Agreement or any default under any other Loan Document, and Lender shall accept performance by Investor Limited Partner of any obligation of Borrower thereunder as though tendered by Borrower itself, provided such performance by Investor Limited Partner has occurred during the applicable cure period, if any, provided to Borrower thereunder with respect to such default or Event of Default. Upon the occurrence of any event that would become an Event of Default hereunder if not cured within any applicable cure period set forth herein, Borrower agrees to promptly provide written notice to Lender describing such event and Borrower’s plan for curing the same. Section 5.2 Remedies on Default. Whenever any Event of Default referred to in Section 5.1 of this Agreement occurs and is continuing, the City, as specified below, may take any one or more of the following actions: (a) The City may declare the unpaid principal of the Loan immediately due and payable. (b) The City may exercise its rights and remedies under the Mortgage, dated even herewith, from the Borrower to the City (the “Mortgage”) and proceed against the collateral described therein, subject to the terms and conditions of that certain Master Subordination Agreement and Estoppel Certificate dated even herewith among the Borrower, the City, the Ramsey County Housing and Redevelopment Authority, Mounds View Group LLC, and the Minnesota Housing Finance Agency. (c) The City may suspend its performance under this Agreement until it receives assurances from the Borrower, deemed adequate by the City, that the Borrower will cure its default and continue its performance under this Agreement. (d) The City may cancel and rescind this Agreement. (e) The City may take any action, including legal or administrative action, which may appear necessary or desirable to collect any payments due under this