West Orange Fourth Round HEFSP_adopted 111025_Appendices

other Loan Document, or failure by the Owner to produce satisfactory evidence of compliance therewith; (c) the filing by the Owner under any federal or state bankruptcy or insolvency law or other similar law of any petition in bankruptcy or for reorganization or composition with creditors or the making of an assignment for the benefit of creditors; (d) the filing against the Owner of a petition seeking its adjudication as a bankrupt or the appointment of a receiver for the benefit of its creditors which shall not have been dismissed within sixty (60) calendar days of the filing thereof, or the adjudication of the Owner as a bankrupt or the appointment of a receiver for the benefit of its creditors; or the appoint by court order of a custodian (such as a receiver, liquidator or trustee) of the Owner or f its property or the taking of possession of the Owner or any of its property for the benefi creditors and such order remains in effect or such possession continues for more than sixt. ndar days; or the inability to replace or restore the Project in accordan ith Section L1, or failure to maintain insurance that fully complies with the Agency insura ents set forth at Section 11 or in Agency insurance specifications minimum requirem lure to provide, immediately or no later than 30 days from notice, replacement insuran: Agency insurance requirements as set forth in Section 11 during the term of the Mortg Loan and the Project by or on behalf of the (f) any representation in conjuncti any respect or warranty of the Owner that is Owner that is knowingly false or misl breached; obligations or any failure to observe its covenants under ments; and (g) any breach by the Owne Toject. quire, rehabilitate, operate and/or maintain the Project in accordance of Default until the prohibited acts, failure to perform or observe, or breaches shall remain uncured for a period of thirty (30) calendar days after the Agency's written notice to the Owner, specifying such prohibited act, failure or breach and requesting that it be remedied, unless the Agency shall agree in writing to an extension of such time prior to its expiration; provided, however, that after the Rehabilitation Period only, if the prohibited act, failure, or breach stated in each notice is correctable, but cannot be corrected within the 30-day period, the Agency may not unreasonably withhold its consent

tion Period only, if the prohibited act, failure, or breach stated in each notice is correctable, but cannot be corrected within the 30-day period, the Agency may not unreasonably withhold its consent to an extension of up to 120 calendar days from the delivery of the written notice referred to herein if corrective action is instituted by the Owner, within the initial 30-day period and diligently pursued.