Laserfiche WebLink
a. Subject to the applicable cure periods set frith in Section 16 and extensions of time <br />set forth in Section 2:5, and subject to the further provisions of this Section 23, failauae or May by <br />tfae Bari -ower to perform any term or provision of this Note constitutes a d0buk sander this Note. <br />The Borrower must i- nmaediaately commence to cure, correct, or aeaiiiMy such failure or delay and <br />Shall C lrplctC suoh curC, corl•cction or reanudy -with reasonable diligence and during any period <br />of Curing, shall not be in de,ftatdt. <br />11. `l:'he City skull five Written notice of dclituft to the Borrower, specifying the <br />default complained of by the C:;ity. [delay In givitig such naatice shall not constitute a waiver of <br />any cicfaurlt nor shall it change the lurno of defbult. <br />C. h.xcept in the case of a monetary event of defiMill, the Borrower shall not be in <br />dcfauult so long as it endeavors to complete hatch cure, correction or remedy with reasonaablc <br />d,iliycncu, prOvadcd such cure, ceaareaiaon or remedy is completed within the applicable time <br />period set i orth herein after- receipt of written notice qor such additional tlnne as may decreed <br />by the City to be reasonably necessary to correct die duf4ult). <br />el. Any ftai'luuus or delays by the City in asserting any of its rights and rrrrtec;tfes as to <br />tiny default shall not operate as a waiver of any dCfault ur of'any SUCla rights ror reuiwdies. D aroy, <br />by the City in aasMertilig any of its tights and reancdics slial'l not deprive the City of its right to <br />institute and maintain any actions or proccedings Which it may deem necessary to protect, assert, <br />or enforce any such rights or reanedics. <br />C. f t' a inooctary event of default occurs under the terms of thus 'Note or the City Deed <br />[ol'Trust, prior to exereasung any remedies thcrCUrldcr City ,Beall give Borrower written notice of <br />such default. Borrower shall have au pe icid of seven (7) days afteu such notice is given within <br />WN01 to cure the default prior to excreisc of'rcniedies by City wider this [note and the City DQed <br />of'Trust. <br />1 lfa anon - monetary event. (if&falault occurs under the ter ns of'this Note or the City <br />Deed of, ]'rust, Mirror to exercising any remedies thurcuradcr, City shall waive BorrowCr notice of <br />such default. If the default is reasonably capable of being, cured within thirty ('30) days, Borrower <br />shall hav =e such period to cl7fect a Cure lyrior to exercise of remedies by the City under this Note <br />and the Deed of Trtr:St if the dQ14olt is such than it is not reasonably capable of teeing Cured. <br />wvithiin thirty (30) clays, and Borrower (I) initiates corrective action within said period, and (ii) <br />diligently, continually, and in good faith %vorl(s tar effect a cure as soon as possible. then <br />borrower shall llawe Such additional fine us Is reasonably neCCSSl ry to LtlrC', tlae dethUlt prior to <br />exercise ofany rclnedies by C".ity, hr no event shall City he precluded (roan exercising remedies if <br />its security becomes or is about to become matchalty,leopardarcd by aoay failure to cure a default <br />or the default is not cured within oalc bunched ci ht,y (t 80) thtys after the first notice of delaaLd is <br />fi veil. <br />24. Insurance and Condemnation. <br />25H -76 <br />