Common use of Notice of Default to Mortgagee Clause in Contracts

Notice of Default to Mortgagee. If City receives a written notice from a Mortgagee, Land Owner or any approved assignee requesting a copy of any Notice of Default given Land Owner or any approved or permitted assignee and specifying the address for service, then City shall deliver to the Mortgagee at Mortgagee's cost (or Land Owner's cost), concurrently with service to Land Owner, any notice given to Land Owner with respect to any claim by City the Land Owner is in Default under this Agreement, and if City issues a Declaration of Default, City shall if so requested by the Mortgagee likewise serve at Mortgagee's cost (or Land Owner's cost) notice on the Mortgagee concurrently with service on Land Owner. Each Mortgagee shall have the right during the same period available to Land Owner to cure or remedy, or to commence to cure or remedy, the event of Default claimed in the Notice of Default or Declaration of Default.

Notice of Default to Mortgagee. If City receives a written notice from a Mortgagee, Land Owner Landowner or any approved assignee requesting a copy of any Notice of Default given Land Owner to Landowner or any approved or permitted assignee and specifying the address for service, then City shall deliver to the Mortgagee Mortgagee, at Mortgagee's cost (or Land Owner's ’s cost), concurrently with service to Land OwnerLandowner, any notice given to Land Owner Landowner with respect to any claim by the City the Land Owner that Landowner is in Default under this Agreement, and if City issues a Declaration of DefaultDefault or Certificate of Non-Compliance, City shall shall, if so requested by the Mortgagee Mortgagee, likewise serve at Mortgagee's ’s cost (or Land Owner's cost) notice of noncompliance on the Mortgagee concurrently with service on Land OwnerLandowner. Each Mortgagee shall have the right during the same period available to Land Owner Landowner to cure or remedy, or to commence to cure or remedy, the event of Default claimed or the areas of noncompliance set forth in the Notice of Default or Declaration of DefaultCity’s notice.