Common use of Notice of Default to Mortgagee; Right of Mortgagee to Cure Clause in Contracts

Notice of Default to Mortgagee; Right of Mortgagee to Cure. If Local Agency receives notice from a Mortgagee requesting a copy of any notice of Default given Landowner under this Agreement and specifying the address for service thereof, then Local Agency shall deliver to such Mortgagee, concurrently with service thereon to Landowner, any notice given to Landowner with respect to any claim by Local Agency that Landowner is in Default and/or Certificate of Non-Compliance. Each Mortgagee shall have the right during the same period available to Landowner to cure or remedy, or to commence to cure or remedy, the Default or non-compliance as provided in this Agreement; provided, however, that if the Default, noncompliance or Certificate of Non-Compliance is of a nature which can only be remedied or cured by such Mortgagee upon obtaining possession, such Mortgagee may seek to obtain possession with diligence and continuity through a receiver or otherwise, and shall thereafter remedy or cure the Default, noncompliance or Certificate of Non-Compliance within ninety (90) days after obtaining possession. If any such Default, noncompliance or Certificate of Non- Compliance cannot, with diligence, be remedied or cured within such ninety (90) day period, then such Mortgagee shall have such additional time as may be reasonably necessary to remedy or cure such Default, noncompliance or Certificate of Non-Compliance (including but not limited to proceeding to gain possession of the Property) if such Mortgagee commences cure during such ninety (90) day period, and thereafter diligently pursues completion of such cure to the extent possible.

Notice of Default to Mortgagee; Right of Mortgagee to Cure. If Local Agency County receives notice from a Mortgagee requesting a copy of any notice of Default given Landowner under this Agreement and specifying the address for service thereof, then Local Agency County shall deliver to such Mortgagee, concurrently with service thereon to Landowner, any notice given to Landowner with respect to any claim by Local Agency County that Landowner is in Default and/or Certificate of Non-Compliance. Each Mortgagee shall have the right during the same period available to Landowner to cure or remedy, or to commence to cure or remedy, the Default or non-compliance as provided in this Agreement; provided, however, that if the Default, noncompliance or Certificate of Non-Compliance is of a nature which can only be remedied or cured by such Mortgagee upon obtaining possession, such Mortgagee may seek to obtain possession with diligence and continuity through a receiver or otherwise, and shall thereafter remedy or cure the Default, noncompliance or Certificate of Non-Compliance within ninety (90) days after obtaining possession. If any such Default, noncompliance or Certificate of Non- Non-Compliance cannot, with diligence, be remedied or cured within such ninety (90) day period, then such Mortgagee shall have such additional time as may be reasonably necessary to remedy or cure such Default, noncompliance or Certificate of Non-Compliance (including but not limited to proceeding to gain possession of the Property) if such Mortgagee commences cure during such ninety (90) day period, and thereafter diligently pursues completion of such cure to the extent possible.

Notice of Default to Mortgagee; Right of Mortgagee to Cure. If Local Agency COUNTY receives notice from a Mortgagee requesting a copy of any notice of Default default given Landowner under this Agreement XXXXXX hereunder and specifying the address for service thereof, and records a copy of each request in the official records of COUNTY in the manner required under Civil Code Section 2924b with respect to Requests for Notices of Default, then Local Agency COUNTY shall deliver to such Mortgagee, concurrently with service thereon to LandownerXXXXXX, any notice given to Landowner XXXXXX with respect to any claim by Local Agency COUNTY that Landowner is XXXXXX has not complied in Default and/or Certificate good faith with the terms of Non-Compliancethis Agreement or has committed an event of default. Each Mortgagee shall have the right during (but not the same obligation) for a period available to Landowner of ninety (90) days after the receipt of such notice from COUNTY to cure or remedy, or to commence to cure or remedy, the Default claim of default or non-compliance as provided noncompliance set forth in this Agreement; provided, however, that if the Default, noncompliance or Certificate of Non-Compliance COUNTY’S notice. If the default is of a nature which can only be remedied or cured by such Mortgagee upon obtaining possession, such Mortgagee may shall seek to obtain possession with diligence and continuity through foreclosure, a receiver or otherwise, and shall thereafter remedy or cure the Default, default or noncompliance or Certificate of Non-Compliance within ninety thirty (9030) days after obtaining possession. If any such Default, default or noncompliance or Certificate of Non- Compliance cannot, with diligence, be remedied or cured within such ninety thirty (9030) day period, then such Mortgagee shall have such additional time as may be reasonably necessary to remedy or cure such Default, default or noncompliance or Certificate of Non-Compliance (including but not limited to proceeding to gain possession of the Property) if such Mortgagee commences the cure during such ninety thirty (9030) day period, and thereafter diligently pursues completion of and completes such cure to the extent possiblecure.