West Orange Township_Fourth Round HEFSP_Final Draft

is deemed to have been irevocably appointed by the Owner}. and apply the same at the Agency's option cither to the operation and maintenance of the Project or to the liabilities of the Owner under the Mortgage; (h) act as landlord of the Project and rent or lease the same on any terms approved by it, or dispossess by summary proceedings or other available means any tenant defaulting under the terms of the lease of a dwelling unit, (i) take possession of equipment, appliances or other tangible personal property in which a security interest has been granted by this Agreement or the Mortgage and dispose of the same in any commercially reasonable manner, The Agency shall have the option to dispose of any such equipment and personal property either separately from the Project and Land or in conjunction with a sale of the Project and Land, and the Owner agrees that either method of disposition shall be commercially reasonable; (j) make effective an assignment of the Architect's Contract by the Owner to the Agency, in which event the Agency is specifically cmpowered by the Owner to exercise any and all rights of the Owner under the Architect's Contract, and at the option of the Agency te proceed with the rehabilitation of the Project, in which event al! payments by the Owner made with respect to the Architect's Contract shall be treated as disbursements on the Loan: (k) subject to Section 40 hereof, sue the Owaer for a mandatory injunction or other equitable relief requiring performance by the Owner of any of its obligations under this Agreement or the Mortgage or the other Loan Documents. The Owner agrees with the Agency that the Agency's remedy at law for the violation or nonperformance of the Owner's obligations under the Mortgage or this Agreement or the other Loan Documents is not adequate by reason, among other things, of the Agency's public purpose to provide adequate. sate and sanitary dwelling units: ()) after consultation with the Owner, sue under the Architect"s Contract or on a warranty to recover any amount payable to the Owner pursuant to the Architect's Contract or payable to the Owner pursuant to any such warranty and to settle any such claim ar lability and release the same and apply the proceeds of any such suit, settlement or rclease to the liabilities of the Owner under this Agreement or the Mortgage: {m) if the Owner commits a breach or

lability and release the same and apply the proceeds of any such suit, settlement or rclease to the liabilities of the Owner under this Agreement or the Mortgage: {m) if the Owner commits a breach or threatens to commit a breach of any of the provisions of the Mortgages or other Loan Documents, the Agency shall have the right, without posting bond or other security, to seek injunctive relief or specific performance, it being acknowledged and agreed that any such breach, or threatened breach, will cause irreparable injury to the Agency and that money damages will not provide an adequate remedy: and/or (n) to undertake reasonable maintenance and make reasonable repairs to the Project and to add the cost thereof to the principal balance of the Mortgages. (0) notwithstanding the above enumeration of remedies, the Agency shall have available to it all other remedies provided at law or in equity or any other action permitted by law subject to the provisions of Section 40 of this Agreement,