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subcontractor or the officers, agents or employees of the contractor or subcontractor while engaged in the
<br />performance of this Agreement.
<br />Also, no member, official, or employee of the City or of its agents or contractors shall be personally
<br />liable to Borrower in the event of any default or breach of the Agreement by the City.
<br />Article VI — Events of Default
<br />The entire unpaid principal of the Note and any other amounts due under the Loan Documents shall
<br />become and be immediately due and payable upon the written demand of the City, without any other notice
<br />or demand of any kind of presentment or protest, if any one of the following events occurs (an "Event of
<br />Default") and is continuing at the time of such demand, whether ..:.tt,..;*,,,,.�ii-s.,..,.v.oluntary or involuntary or, without
<br />limitation, occurring or brought about by operation of law or pursuant to or in compliance with any
<br />judgment, decree or order of any court or any order, rule or regulation qi..any administrative or governmental
<br />body.
<br />The disbursement of Loan funds will end, without an:v'�':',.",��,*"o"ther notice or demandofany kind of presentment
<br />or protest, if any one of the following events occurs-,. (an "Event of Default'7): Whether it is voluntary or
<br />involuntary or, without limitation, occurring or bf6:oghvt about by operation of'i ..,.or pursuant to or in
<br />.,.,--..
<br />compliance with any judgment, decree or order of and ,�court .or:l:any order, M e.6r-.regulation of any
<br />administrative or governmental body.
<br />Section 6.01 Default and Cure
<br />Incorrect presentations or Warranties If any representation or warranty contained
<br />in or made Idge-onnecti with the execution and delivery of this Agreement or in any
<br />certificate furnished pursuant; he
<br />reto shall prove to have been incorrect or untrue in any
<br />material respect ucn made;
<br />(4) Defaultn Covenants -- If Borrower defaults in the performance of any other term,
<br />covenant, agreement bfteht contained in the Loan Documents and such default shall continue
<br />t (30) days after the earlier of either: (1) the default becoming known
<br />to an executive -,officer of Borrower; or (2) written notice thereof was given to Borrower by
<br />City;
<br />(5) Voluntary Insolvency -- If Borrower becomes insolvent, ceases to pay its debts as they
<br />mature, voluntarily files a petition seeking reorganization of, or the appointment of a
<br />receiver, trustee, or liquidator, for itself or a substantial portion of its assets, with the
<br />purpose of effecting a plan or other arrangements with creditors, is adjudicated bankrupt,
<br />or makes a voluntary assignment for the benefit of creditors;
<br />(6) Involuntary Insolvency -- If an involuntary petition is filed against Borrower under any
<br />bankruptcy, insolvency, or similar law seeking the reorganization of, or the appointment of
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