Common use of Option to Cure Clause in Contracts

Option to Cure. If thirty (30) days after any notice or demand with respect to any breach or default, such breach or default remains uncured, each such Holder shall (and every Mortgage or other instrument of encumbrance made prior to completion of the Redeveloper’s Improvements by Redeveloper or its successors in interest shall so provide) have the right, at its option, to cure or remedy such breach or default and to add the cost thereof to the mortgage debt and the lien of its Mortgage; provided, that if the breach or default is with respect to construction of the Redevelopment Project Site, nothing contained in this section or any other section of this Agreement shall be deemed to permit or authorize Holder to modify the Redevelopment Project approved by the City. In the event the Holder fails to cure, then the City shall have the remedies provided within this Agreement.

Option to Cure. If thirty (30) days after any notice or demand with respect to any breach or default, such breach or default remains uncured, each such Holder shall (and every Mortgage or other instrument of encumbrance made prior to completion of the Redeveloper’s Improvements by Redeveloper or its successors in interest shall so provide) have the right, at its option, to cure or remedy such breach or default and to add the cost thereof to the mortgage debt and the lien of its Mortgage; provided, that if the breach or default is with respect to construction of the Redevelopment Project Site, nothing contained in this section or any other section of this Agreement shall be deemed to permit or authorize require Holder to modify the Redevelopment Project approved by the City. In the event the Holder fails to cure, then the City shall have the remedies provided within this Agreementcure or remedy such breach.

Option to Cure. If thirty (30) days after any notice or demand with respect to any breach or default, such breach or default remains uncured, each such Holder shall (and every Mortgage or other instrument of encumbrance made prior to completion of the RedeveloperOwner’s Improvements by Redeveloper Owner or its successors in interest shall so provide) have the right, at its option, to cure or remedy such breach or default and to add the cost thereof to the mortgage debt and the lien of its Mortgage; provided, that if the breach or default is with respect to construction of the Redevelopment Project Site, nothing contained in this section or any other section of this Agreement shall be deemed to permit or authorize Holder to modify the Redevelopment Project approved by the City. In the event the Holder fails to cure, then the City shall have the remedies provided within this Agreementauthorize.

Option to Cure. If thirty (30) days after any notice or demand with respect to any breach or default, such breach or default remains uncured, each such Holder shall (and every Mortgage or other instrument of encumbrance made prior to completion of the Redeveloper’s their respective Private Improvements by Redeveloper Redeveloper, Airspace or its successors in interest shall so provide) have the right, at its option, to cure or remedy such breach or default and to add the cost thereof to the mortgage debt and the lien of its Mortgage; provided, that if the breach or default is with respect to construction of the Redevelopment Project Site, nothing contained in this section or any other section of this Agreement shall be deemed to permit or authorize Holder to modify the Redevelopment Project approved by the City. In the event the Holder fails to cure, then the City shall have the remedies provided within this Agreementauthorize.