Common use of Notice; Right to Cure Event of Default; Obligations of the FCRHA Clause in Contracts

Notice; Right to Cure Event of Default; Obligations of the FCRHA. If an Event of Default has occurred, the FCRHA shall send written notice of such Event of Default to Developer (a “Default Notice”). Developer must cure such Event of Default within thirty (30) days after receipt of the Default Notice (or, if the Event of Default cannot reasonably be cured within such 30-day period, then within such longer period of time as reasonably agreed by the FCRHA, so long as Developer commences cure efforts within such 30-day period and diligently pursues completion of those efforts). Any member of Developer may cure an Event of Default but has no obligation to do so; any such cure will be accepted or rejected as if offered by Developer.