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1 5 PREPAYMENT Borrower may, without premium or penalty, at any time and <br /> from time to time, prepay all or any portion of the outstanding principal balance due under this <br /> Note, provided that each such prepayment is accompanied by accrued interest on the amount of <br /> principal prepaid calculated to the date of such prepayment Prepayments shall be applied first to <br /> any unpaid late charges and other costs and fees then due, then to accrued but unpaid interest, <br /> and then to principal. The Regulatory Agreement shall remain in full force for the entire term <br /> thereof regardless of any prepayment of this Note <br /> 1.6 MANNER OF PAYMENT. All payments of principal and interest on this Note <br /> shall be made to City at 123 Main Street, Pleasanton, CA 94566 or such other place as City shall <br /> designate to Borrower in writing, or by wire transfer of immediately available funds to an <br /> account designated by City in writing <br /> 2. DEFAULTS AND REMEDIES. <br /> 2.1 EVENTS OF DEFAULT The occurrence of any one or more of the following <br /> events shall constitute an event of default hereunder("Event of 'I efault") <br /> (A) Borrower fails to pay when due the principal and interest payable hereunder and <br /> such failure continues for ten (10) days after City notifies Borrower thereof in writing. <br /> (B) Pursuant to or within the meaning of the United States Bankruptcy Code or any <br /> other federal or state law relating to insolvency or relief of debtors ("Bankruptcy Law"), <br /> Borrower or any general partner thereof(i) commences a voluntary case or proceeding, (ii) <br /> consents to the entry of an order for relief against Borrower, or any general partner thereof, in an <br /> involuntary case; (iii) consents to the appointment of a trustee, receiver, assignee, liquidator or <br /> similar official for Borrower or any general partner thereof; (iv) makes an assignment for the <br /> benefit of its creditors, or(v) admits in writing its inability to pay its debts as they become due <br /> (C) A court of competent junsdiction enters an order or decree under any Bankruptcy <br /> Law that (i) is for relief against Borrower or any general partner thereof in an involuntary case, <br /> (n) appoints a trustee, receiver, assignee, liquidator or similar official for Borrower, or any <br /> general partner thereof, or substantially all of such entity's assets, (iii) orders the liquidation of <br /> Borrower or any general partner thereof, or (iv) issues or levies a judgment, writ, warrant of <br /> attachment or similar process against the Property or the Project, and in each case the order or <br /> decree is not released, vacated, dismissed or fully bonded within ninety(90) days after its <br /> issuance <br /> (D) The occurrence of a Transfer in violation of the Loan Agreement or the <br /> Regulatory Agreement. <br /> (E) The holder of any debt instrument secured by a mortgage or deed of trust on the <br /> Project or the Property declares a default, and such default remains uncured beyond any <br /> applicable cure period such that the holder of such instrument has the right to accelerate payment <br /> thereunder <br /> OAK#4829-4624-9261 v5 6 <br />