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(3) Review the default provisions under the loan agreement (a copy of which can be found in the Project Documents folder) and confirm the following:

(3) Review the default provisions under the loan agreement (a copy of which can be found in the Project Documents folder) and confirm the following:

  1. Are we in default of the loan terms at this time as a result of the Foozers Grille default letter? If not, will we be in default of the loan terms once the Foozers Grille lease is effectively terminated in 30 days?

  2. Are we in default of the loan terms at this time as a result of the Darcy, LLC default letter? If not, when might we be in default of the loan terms as a result of the Darcy, LLC dispute?

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