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CC PACKET 05301989
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1989
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CC PACKET 05301989
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Last modified
12/30/2015 4:37:07 PM
Creation date
12/30/2015 4:36:53 PM
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SP Box #
18
SP Folder Name
CC PACKETS 1987-1989
SP Name
CC PACKET 05301989
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• (h) If Redeveloper is in default under any Mortgage <br /> and fails to cure any such default within the time period <br /> provided for in the Mortgage. <br /> Section 9 . 2 Remedies on Default. Whenever any Event <br /> of Default referred to in Section 9 . 1 occurs, the HRA may take <br /> any one or more of the following actions : <br /> (a) Suspend its performance under this Agreement <br /> until it receives assurances from Redeveloper, deemed adequate <br /> by the HRA, that Redeveloper will cure its default and continue <br /> its performance under this Agreement . <br /> (b) Terminate all rights of Redeveloper under this <br /> Agreement . <br /> (c) Withhold the Certificate of Completion. <br /> (d) withhold the issuance of the Note. <br /> (e) Take whatever action at law or in equity may <br /> appear necessary or desirable to the HRA to enforce performance <br /> and observance of any obligation, agreement, or covenant of the <br /> Redeveloper under this Agreement . <br /> Section 9 . 3 . No Remedy Exclusive. No remedy herein <br /> conferred upon or reserved to the HRA is intended to be <br /> exclusive of any other available remedy or remedies, but each <br /> and every such remedy shall be cumulative and shall be in <br /> addition to every other remedy given under this Agreement or <br /> now or hereafter existing at law or in equity or by statute. <br /> No delay or omission to exercise any right or power accruing <br /> upon any default shall impair any such right or power or shall <br /> be construed to be a waiver thereof, but any such right and <br /> power may be exercised from time to time and as often as may be <br /> deemed expedient . In order to entitle the HRA or Redeveloper <br /> to exercise any remedy reserved to it, it shall not be <br /> necessary to give notice, other than such notice as may be <br /> required under this Agreement . <br /> Section 9 . 4 . Waivers . All waivers by the HRA, shall <br /> be in writ.-g . If any provision of this Agreement is breached <br /> by either party and thereafter waived by the other party, such <br /> waiver shall be limited to the particular breach so waived and <br /> shall not be deemed to waive any other concurrent, previous or <br /> subsequent breach hereunder . <br /> -16- <br />
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