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to mandatory prepayment in whole or in part pursuant to Section 2.05 of the Disbursing Agreement in the amount of any sums remaining in the Construction Fund at the Completion Date (as such terms are defined in the Disbursing Agreement), in which event a prepayment premium shall also be payable in accordance with paragraph 8 hereof, and the time of such prepayment may not be extended pursuant to paragraph 6 hereof. Upon the occurrence of certain "Events of Default" under the Loan Agreement and/or under the Mortgage, and as provided in paragraph 12 hereof, the Holder may declare the Principal Balance and accrued interest on this Note to be Dnmediately due and payable (any such action and any similar action pursuant to paragraph l(c)(ii) hereof being hereinafter referred to as an "acceleration" of this Note), in which event, a prepayment premium shall also be payable in accordance with paragraph 8 hereof, subject to the provisions of paragraph l(c)(ii) hereof. Upon the occurrence of certain events of damage, destruction or condemnation, the Holder may, as provided in the Mortgage, apply the net proceeds of any insurance or condem- nation award to the prepayment, in whole or in part, of the Principal Balance in which event a prepayment premium may be payable with respect to such prepayment as provided in the Mortgage. This Note shall be purchased by the Borrower on each Adjustment Date unless the Holder gives one month advance written notice that the Borrower is not required to make such purchase. 8. (a) This Note may be prepaid in whole, but not in part, on each Adjustment Date without a penalty or premium. (b) At the time of any prepayment or accelera- tion of this Note, and when there is a payment of a premium required by the provisions of this Note, the Borrower shall pay, together with the premium, if any, set forth in paragraph (c) hereof, an amount equal to 1-1/2% of the amount of principal so prepaid. (c) At the time of any prepayment or acceleration of this Note and when there is payment of a premium required by the provisions of this Note and the yield on U.S. Treasury securities (as published by the Federal Reserve Bank of New York) having a maturity date closest to the next Adjustment Date (the "Goverrunent Yield"), as determined by the Holder as of the date of prepayment or acceleration, is less than two and one-half percent in excess of the interest 12