Cure Upon Default. Should any party be in Default of any obligation under this Agreement, the other party shall notify the defaulting party and any mortgagee, if applicable and if the Township has been provided written notice of the mortgagee and its contact information, in writing of said Default. If the defaulting party is an Urban Renewal Entity or any of its Affiliated Entities, either the Township, or the Trustee as the Township’s assignee and agent, shall provide such notice. Said notice shall set forth with particularity the basis of said Default. Except as otherwise limited by law, the defaulting party shall have sixty (60) days to cure any Default, other than a Default in payment of any installment of the Annual Service Charge, in which case there shall be no cure period.
Appears in 2 contracts
Samples: Financial Agreement, Financial Agreement
