Recourse Liability. Sections 9(c)(i) and (c)(ii) of the Project Note will be operative only after Equity Investor has been given 30 days’ notice of the Event of Default described in the Project Note, together with an opportunity within such 30-day period to remedy the applicable Event of Default. In all events, Funding Lender may, during such 30-day period, exercise all of its rights and remedies under this Continuing Covenant Agreement upon the occurrence of such Event of Default, other than foreclosure of the Mortgaged Property.
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Sources: Rider to Continuing Covenant Agreement, Continuing Covenant Agreement