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Measure Al Bond loan made by Alameda County concurrently (each a "Senior <br /> Loan"). <br /> 7. Compliance with HOME Program and Measure Al Requirements. Borrower agrees <br /> that at all times it acts regarding the Project and the use of funds provided by this <br /> Loan shall be in conformity with all provisions of the HOME Program, including HUD <br /> procedures pertaining to the HOME Program, and the Alameda County Measure Al <br /> policies. <br /> 8. Defaults and Remedies. <br /> 8.1. Event of Default. Each of the following shall constitute a "Default" and "Event of <br /> Default" by Borrower under this Agreement: <br /> 8.1.1. Failure to complete construction of the Project and receive final inspection <br /> for Project's building permit(s) by City's Pleasanton's Building and Safety <br /> Inspection Division by December 31, 2024. <br /> 8.1.2. Failure to repay the principal and any interest on the Loan within ten (10) <br /> days of receipt of written notice from Lender that such payment is due under <br /> the Loan Documents. <br /> 8.1.3. Failure of Borrower to duly perform, comply with, or observe any of the <br /> conditions, terms or covenants of any of the Loan Documents, and such <br /> failure continuing uncured for thirty (30) days after receipt of written notice <br /> thereof from Lender to Borrower, or if the breach cannot be cured within <br /> thirty (30) days, Borrower shall not be in breach so long as Borrower is <br /> diligently undertaking to cure such breach and such breach is cured within <br /> ninety (90) days; provided, however, if a different period or notice <br /> requirement is specified under any other provision of this Section 8, the <br /> specific provisions shall control. <br /> 8.1.4. Failure to make any payment or perform any of Borrower's covenants, <br /> agreements, or obligations under the Senior Loans. <br /> 8.1.5. A court entering any degree or order adjudging Borrower to be bankrupt or <br /> insolvent. <br /> 8.1.6. Any Borrower representation or warranty contained in this Agreement, or <br /> in any application, financial statement, certificate, or report submitted to <br /> Lender in connection with any of the Loan Documents, proving to have been <br /> incorrect in any material respect when made. <br /> 8.2. Remedies. The occurrence of any Default hereunder following the expiration of <br /> all applicable notice and cure periods will, either at the option of Lender or <br /> automatically where specified, relieve Lender of any obligation to make or <br /> 3 <br />