Common use of Mortgage Holder’s Option to Cure Defaults Clause in Contracts

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of or default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Redeveloper Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of or default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Redeveloper Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement. Section 605.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Private Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance acceptance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement. Section 605. [Reserved].

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Private Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement. Section 605. [Reserved].

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703803, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703803, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of or default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Private Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance acceptance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703503, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Redeveloper Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703503, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 7031201, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s 's Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 7031201, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of or default as referred to in Section 703, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Redeveloper Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of or default as referred to in Section 703, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Redeveloper Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement. Section 705.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the RedeveloperDeveloper’s Certificate of Completion) for a Phase have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703Section603, and to add the cost thereof to the mortgage debt and the lien of its mortgagemortgage for said Phase. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment AgreementAgreement for said Phase.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703503, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Private Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703503, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Redeveloper Undertakings) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703801, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of CompletionCompletion of Private Improvements) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703801, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703503, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance acceptance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703503, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703603, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703603, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s Certificate of Completion) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703503, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.

Mortgage Holder’s Option to Cure Defaults. If thirty (30) days after notice or demand with respect to any breach of default as referred to in Section 703403, such breach or default remains uncured, each such holder shall (and every mortgage instrument made prior to issuance by the City of the Redeveloper’s 's Certificate of CompletionCompletion for the applicable ownership shall so provide) have the right, at its option, to cure or remedy such breach or default within sixty (60) days after the notice or demand as referred to in Section 703403, and to add the cost thereof to the mortgage debt and the lien of its mortgage. If the mortgage holder commences efforts to cure the default within such period and the default cannot, in the exercise of due diligence, be cured within such period, the holder shall have the right to diligently continue to cure the default. In the event the Holder fails to cure, then the City shall have the remedies provided for in this Redevelopment Agreement.