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HUD.6209S (9-69) aggregate of such amounts had ail such ~ounts become part of the mortgage debt and such debt had continued tn existence. SEC. 606. ~ency's Option To Cure Mortgage Default. default or breach prior to the completion 'of the Improvements by the Redeveloper, or any successor in interest, tn. or of a~y ~f its obligations under, ~md to the holder of, any mortgage or other instrument creating enc~br~ce or lien upon the Property or part thereof, the Agency Zts option cure such defau[t or breach, tn ~htch case the ~ency entZt[ed, ~n addition to and without [~m[tatton upon remedies to which tt sha[[ ~e en[[t[ed by the ~reement, operation of or otherw~se~ to reimbursement from the Redeveloper or successor in ~n[erest of all costs ~d expen~e~ incurred by the ~ency In curl~ such default or breach ~d to a l~en upon the Property (or the p~rt thereof to which the mortsase~ encu~br~ce, or lien relates) for such reimbursement: Provided~ That any such lien shall be subject always to the lien of (includln~ any lien contemplated~ because of adv~ces yet to be made, by) ~y then existin8 mortgages on the Property authorized by the ~reeme~t. SEC. 607. Mortgage and Holder. For the purposes of the Agreement: The term "mortgage" shall lncl.de a deed of trust or other instrument creating an encumbrance or lien upon the Property, or any part thereof, az securELy fur's loan. The rterm "holder" in reference to a mortgage shall include any insurer or guarantor of any obligation or condition secured by such mortgage or deed of trust., including, but not limited to, the Federal Housing'Commissioner, the Administrator of Veterans Affairs, and any successor in'office of either such ufficial. ARTICLE VII. Rf~4EDIES SEC. 701. In General. Except. as otherwise provided in the Agreement, in the event of any default in or breach of thc ~Ereement, ur o~ny of its te~s or conditions, by either party here~o, or any successor to such party~ such party (or suct:essor) ~lu~il, Upon ~rritten notice from the other,. proceed i~ediately to cure or remedy such default or breach, and, in any event, within sixty (60) days after receipt of such notice. In case such action is not taken or not diligently pursued. 'or the default or breach shall not be cured or remedied ~ithln a reascnable'time, the aggrieved party may institute such proceedings au may be necessary or desirable in its opinion to cure and remedy such default or breach, including, but not limited to, proc~.edln2~; to ~'ompel vpecil'ie performance by'th~ party in default or broach of its obli~atlons. SEC. 702. '£crminatlon by__l.;,:d~velope~ l'rlor to ~onve~m~ce, In the event that the Agency doe:! n(,t, ~.~,nder vonveyan¢:e of the Propert.y, or possession th.reof, in the manner ~nd condition, ~d by the date, provided in the ~reemen%, ~d ~y such failure shall t - 15 - MAR 18 1977 J I