Lender’s Performance. (a) The City shall periodically review Lender’s performance under this Agreement, including but not limited to the number of loans originated, loan performance, types of loans made available to Eligible Borrowers including for the City’s Below Market Rate (BMR) Units and marketing of DALP and other services to Eligible Borrowers, including homebuyer education provided to applicants. In the event the City determines that the Lender has not satisfactorily performed its obligations under this Agreement, the City shall provide written notice of that fact to the Lender. If, in the City's reasonable judgment, the Lender has not remedied this situation within sixty (60) days of the City’s notice, the City may automatically terminate this Agreement by written notice to the Lender.
Lender’s Performance. (a) The Administrator shall periodically review Lender’s performance under this Agreement, including but not limited to the number of loans originated, loan performance, types of loans made to Eligible Borrowers, including the servicing of first mortgages made on homes with Below Market Rate Resale Restrictions. In the event the Administrator determines that the Lender has not satisfactorily performed its obligations under this Agreement, the City shall provide written notice of Administrator’s determination to the Lender. If, in the City’s reasonable judgment, the Lender has not remedied this situation within sixty (60) days of the City’s notice, the City may automatically terminate this Agreement by written notice to the Lender.
Lender’s Performance. Lender shall not be responsible for any failure of any Advance to be credited to any account of Borrower (i) if such failure is caused by conditions beyond Lender’s control including, but not limited to Acts of God, restrictions of Governmental Units (including the denial or cancellation of any necessary license, registration or permit), wars, insurrections, or interruptions of telephone service or internet access caused by a service provider or resulting from the failure of a service provider’s equipment, software or personnel, and (ii) if such failure is not caused by or due to an event, occurrence or condition described in clause (i) immediately above, unless such failure is caused by or due to Lender’s gross negligence or willful misconduct.
Lender’s Performance. If Borrower fails to pay or perform any of its obligations herein contained (including payment of expenses of foreclosure and court costs) and all applicable grace or cure periods have expired resulting in an Event of Default which is continuing, Lender may (but need not), make any payment or perform (or cause to be performed) any obligation of Borrower hereunder, in any form and manner deemed expedient by Lender, and Borrower hereby irrevocably appoints Lender its attorney-in-fact, coupled with an interest, in furtherance thereof. Any reasonable out of pocket amount expended by Lender in such performance or attempted performance shall be deemed to be Costs under the Loan Agreement, payable in accordance with Section 8.2 of the Loan Agreement. By way of illustration only, and not in limitation of the foregoing, Lender may (but shall have no obligation to) do all or any of the following: make payments of principal or interest or other amounts on any lien, encumbrance or charge on any of the Collateral; make repairs; collect rents; prosecute collection of the Collateral or proceeds thereof; purchase, discharge, compromise or settle any tax lien or any other lien, encumbrance, suit, proceeding, title or claim thereof; contest any tax or assessment; and redeem from any tax sale or forfeiture affecting the Property. In making any payment or securing any performance relating to any obligation of Borrower hereunder, Lender shall (as long as it acts in good faith) be the sole judge of the legality, validity and amount of any lien or encumbrance and of all other matters necessary to be determined in satisfaction thereof. No such action of Lender shall ever be considered as a waiver of any right accruing to it on account of the occurrence of any matter which constitutes an Event of Default.
Lender’s Performance of Borrower’s Covenants and Duties. Should any covenant, duty or agreement of Borrower fail to be performed in accordance with its terms hereunder, Lender may, at its option, perform, or attempt to perform, such covenant, duty or agreement on behalf of Borrower. Borrower shall, at the request of Lender, promptly pay any amount expended by Lender in such performance or attempted performance to Lender, together with interest thereon at the Default Rate from the date of such expenditure by Lender until paid; provided, however, that Lender does not assume and shall not have, except by express written consent of Lender, any liability for the performance of any duties of Borrower under this Agreement or under the other Loan Documents.
