Default under this Agreement. Borrower shall be in default under this Agreement if it fails to comply with any provision of this Agreement and such failure is not cured within 10 days after notice from Lender. Borrower understands that a default under this Agreement shall be deemed to be an Event of Default under the Security Instrument, and that in addition to the remedies specified in this Agreement, Lender shall be able to exercise all of its rights and remedies under the Security Instrument upon an Event of Default.
Appears in 5 contracts
Samples: Replacement Reserve and Security Agreement (American Retirement Villas Properties Ii), Replacement Reserve and Security Agreement (American Retirement Villas Properties Iii LTD Partnership), Replacement Reserve and Security Agreement (Arv Assisted Living Inc)
Default under this Agreement. Borrower shall be in default under this Agreement if it fails to comply with any provision of this Agreement and such failure is not cured within 10 days after notice from Lender. Borrower understands that a default under this Agreement shall be deemed to be an Event of Default a default under the terms of the Note, the Security InstrumentInstrument and the other Loan Documents, and that in addition to the remedies specified in this Agreement, Lender shall be able to exercise all of its rights and remedies under the Note, the Security Instrument and the other Loan Documents upon an Event of Defaulta default.
Appears in 1 contract
Samples: Repair and Security Agreement (Crown Northcorp Inc)
