IF ANY SUCH FAILURE
CONCERNING A NON-MONETARY COVENANT OR CONDITION IS SUSCEPTIBLE TO CURE AND
CANNOT REASONABLY BE CURED WITHIN SAID THIRTY (30) DAY PERIOD, THEN BORROWER
SHALL HAVE AN ADDITIONAL SIXTY (60) DAY PERIOD TO CURE SUCH FAILURE AND NO EVENT
OF DEFAULT SHALL BE DEEMED TO EXIST HEREUNDER SO LONG AS BORROWER COMMENCES SUCH
CURE WITHIN THE INITIAL THIRTY (30) DAY PERIOD AND DILIGENTLY AND IN GOOD FAITH
PURSUES SUCH CURE TO COMPLETION WITHIN SUCH RESULTING NINETY (90) DAY PERIOD
FROM THE DATE OF LENDER'S NOTICE; AND PROVIDED FURTHER THAT IF A DIFFERENT
NOTICE OR GRACE PERIOD IS SPECIFIED UNDER ANY OTHER SUBSECTION OF THIS SECTION
20.1 WITH RESPECT TO A PARTICULAR BREACH, OR IF ANOTHER SUBSECTION OF THIS
SECTION 20.1 APPLIES TO A PARTICULAR BREACH AND DOES NOT EXPRESSLY PROVIDE FOR A
NOTICE OR GRACE PERIOD, THE SPECIFIC PROVISION SHALL CONTROL;
(B)
THE DISAPPROVAL BY LENDER OR LENDER'S CONSULTANT AT ANY TIME OF ANY
CONSTRUCTION WORK DUE TO SUCH WORK BEING DEFECTIVE OR DEVIATING FROM THE
APPROVED PLANS AND SPECIFICATIONS, AND FAILURE OF BORROWER TO CAUSE THE SAME TO
BE CORRECTED TO THE REASONABLE SATISFACTION OF LENDER WITHIN THE CURE PERIOD
PROVIDED IN SECTION 20.1(A)(II) ABOVE;
(C)
A DELAY OR DISCONTINUANCE IN THE CONSTRUCTION FOR A PERIOD OF FIFTEEN
(15) DAYS FOR REASONS WITHIN THE CONTROL OF BORROWER, OR UP TO SEVENTY-FIVE (75)
DAYS IF OCCASIONED BY FORCE MAJEURE DELAYS, PROVIDED THAT THE AGGREGATE OF ALL
SUCH TIME PERIODS SHALL NOT EXCEED
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ONE HUNDRED FIFTY (150) DAYS, AND AN ADDITIONAL ONE HUNDRED TWENTY (120) DAYS
PERMITTED WITH RESPECT TO A TROPICAL STORM OR HURRICANE;
(D)
IF BORROWER FAILS TO COMPLETE THE CONSTRUCTION IN SUBSTANTIAL
ACCORDANCE WITH THE PLANS AND SPECIFICATIONS ON OR BEFORE THE COMPLETION DATE;
(E)
IF BORROWER FAILS TO SATISFY THE FINAL DISBURSEMENT CONDITIONS UNDER
ARTICLE XIV ON OR BEFORE THE COMPLETION DATE;
(F)
IF BORROWER DEFAULTS, BEYOND ANY APPLICABLE NOTICE OR CURE PERIOD,
UNDER THE GENERAL CONTRACT, THE ARCHITECT'S AGREEMENT, ANY MAJOR CONTRACT, ANY
OF THE MARKETING AGREEMENTS, ANY OF THE ML&P AGREEMENTS, THE GROUND LEASE, OR
THE ER PURCHASE AGREEMENT;
(G)
THE BANKRUPTCY OR INSOLVENCY OF THE GENERAL CONTRACTOR AND FAILURE OF
BORROWER TO PROCURE A CONTRACT WITH A NEW CONTRACTOR REASONABLY SATISFACTORY TO
LENDER WITHIN NINETY (90) DAYS FROM THE OCCURRENCE OF SUCH BANKRUPTCY OR
INSOLVENCY;
(H)
ANY TRANSFER OR OTHER DISPOSITION IN VIOLATION OF SECTIONS 18.1 OR
18.2;
(I)
IF ANY WARRANTY, REPRESENTATION, STATEMENT, REPORT OR CERTIFICATE MADE
NOW OR HEREAFTER BY BORROWER OR GUARANTOR IS UNTRUE OR INCORRECT IN ANY MATERIAL
RESPECT AT THE TIME MADE OR, SUBJECT TO THE PROVISIONS OF SECTION 3.2 HEREOF,
DEEMED REMADE;
(J)
BORROWER OR GUARANTOR SHALL COMMENCE A VOLUNTARY CASE CONCERNING
BORROWER OR GUARANTOR UNDER THE BANKRUPTCY CODE; OR AN INVOLUNTARY PROCEEDING IS
COMMENCED AGAINST BORROWER OR GUARANTOR UNDER THE BANKRUPTCY CODE AND RELIEF IS
ORDERED AGAINST THE APPLICABLE PARTY, OR THE PETITION IS CONTROVERTED BUT NOT
DISMISSED OR STAYED WITHIN SIXTY (60) DAYS AFTER THE COMMENCEMENT OF THE CASE,
OR A