Stipulated Conditions. 1) If Mortgagee sends a notice of default to the Homeowner because the Homeowner has failed to comply with the terms of the Mortgage, the Mortgagee shall, at the same time, send a copy of that notice to ACLT. Upon receiving a copy of the notice of default and within that period of time in which the Homeowner has a right to cure such default (the “cure period”), ACLT shall have the right to cure the default on the Homeowner’s behalf, provided that all current payments due the Permitted Mortgagee since the notice of default was given are made to the Mortgagee.
Stipulated Conditions. 1) If Mortgagee sends a notice of default to the Lessee because the Lessee has failed to comply with the terms of the Mortgage, the Mortgagee shall, at the same time, send a copy of that notice to the CLT. Upon receiving a copy of the notice of default and within that period of time in which the Lessee has a right to cure such default (the “cure period”), the CLT shall have the right to cure the default on the Lessee’s behalf, provided that all current payments due the Permitted Mortgagee since the notice of default was given are made to the Mortgagee.
Stipulated Conditions. 1) In the event of a default in any of the Mortgagor’s obligations under the Mortgage, the holder of the Mortgage shall notify Lessor of such fact and Lessor shall have the right (but not the obligation) within 120 days after its receipt of such notice, to cure such default in the Mortgagor’s name and on mortgagor’s behalf, provided that current payments due the holder during such 120-day period (or such lesser time period as may have been required to cure such default) are made to the holder. Said holder shall not have the right, unless such default shall not have been cured within such time, to accelerate the note secured by the Mortgage or to commence to foreclose under the Mortgage on account of such default.
Stipulated Conditions. 1) The Mortgage shall secure a twenty (20) year fixed-rate note in the amount of $137,000.00.
Stipulated Conditions. 1). In the event of a default in any of the Homeowner/Mortgagor’s under the Mortgage, the Mortgagee shall notify IHT of such fact and IHT shall have upon receiving a copy of the notice of default the right (but not the obligation) within 120 days after its receipt of such notice, to cure such default in the Homeowner’s name and on Homeowner’s behalf, provided that current payments due the Mortgagee during such 120-day period (or such lesser time period as may have been required to cure such default) are made to the Mortgagee, and shall further provide that said Mortgagee shall not have the right, unless such default shall not have been cured within such time, to accelerate the note secured by such Mortgage or to commence to foreclose under the Mortgage on account of such default.
