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8/8/1973
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8/8/1973
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7/23/2015 11:26:52 AM
Creation date
6/10/2015 2:44:06 PM
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Meetings
Meeting Type
Regular Meeting
Document Type
Minutes
Meeting Date
08/08/1973
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. M <br />AUG <br />6,0 <br />a day not less than five days thereafter, whereupon the term shall. end and, <br />then, upon the day so specified, in said second notice, the term of this <br />Lease shall expire as fully and as completely as if that day were the date <br />herein definitely fixed for the expiration date of the term. <br />The Lessor shall, upon serving on the Lessee any notice of default <br />or .any other notice under this Lease, simultaneously serve a copy of such <br />notice upon the secured party, and no notice of such default shall be deemed <br />to have been duly.given unless and until a copy thereof has been so served <br />upon the secured party. The secured party shall thereupon have the same <br />time within which to remedy or cause to be remedied the defaults complained <br />of as is allowed to the Lessee, and the Lessor shall accept such performance <br />by or at the Instigation of the secured party as if such performace had been <br />accomplished by the Lessee. <br />For the purpose of this article, no default on the part of the Lessee, in <br />.1he performance of work to be performed, or acts to be done, or conditions <br />to be remedied, which cannot reasonably be completed within the grace <br />period, shall be deemed to exist, if steps shall, in good faith, have been <br />commenced promptly to rectify the same, and shall be prosecuted to comple-' <br />tion with diligence and continuity. <br />Anything herein contained notwithstanding, while such security interest <br />remains in effect, if, before the expiration of ten days after the date of <br />service of a notice to terminate this lease for any reason whatsoever, the <br />secured party shall have paid to the Lessor all rent and additional rent and <br />shall have complied, or shall engage in the work of complying with the <br />requirement s of this Lease by reason of which default such notice has been <br />sent, then the Lessor shall not be entitled to terminate this lease and any <br />such notice of termination theretofore given shall be void and of no effect. <br />If the Lessor elects to terminate this Leas Eby reason of any delAult <br />of the Lessee, the secured party shall not only have and be subrogated to all <br />rights of the Lessee with respect to curing such default, but shall also have <br />the right to postpone and extend the specified date for the termination of this . <br />V <br />
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