Laserfiche WebLink
J,A N 2 91991 soox 45 PAGE 778 <br />upon have the same time within which to remedy or cause to be <br />remedied the defaults complained of as is'allowed to the Lessee, <br />and the Lessor shall accept such performance by or at the instigation <br />of the secured party as if such performance had been accomplished by <br />the Lessee. <br />For the purpose of this article, no default on the part of the <br />Lessee, in the performance of worts to be performed, or acts to be done, <br />or conditions to be remedied, which cannot reasonably be completed <br />within the grace period, shall be deemed to exist, if steps shall, <br />in good faith, have been commenced promptly to rectify the same# <br />and shall be prosecuted to completion with diligence and continuity. <br />Anything herein contained notwithstanding, while such security <br />interes remains in effect, if, before the expiration of ten days <br />after the date of service of a notice to terminate this lease for any <br />reason whatsoever, the secured party shall have paid to the Lessor all <br />rent and additional rent and shall have complied, or shall engage in <br />the work of complying with the requirements of this Lease by reason <br />of which default such notice has been sent, then the Lessor shall not <br />be entitled to terminate this lease and any such notice of termination <br />theretofore given shall be void and of no effect. <br />If the Lessor elects to terminate this Lease by reason of any <br />default of the Lessee, the secured party shall not only have and be <br />subrogated to all rights of the Lessee with respect to curing such <br />default, but shall also have the right to postpone and extend the <br />specified date for the tervnination of this Lease as fixed by the Lessor <br />i <br />in its notice of termination, for a period of not more than six <br />months, prot1 ded that: (1) the secured party shall cure any then <br />existing default and, meanwhile, pay the rent and additonal rent and <br />perform all of the other requirements of this Lease required to be <br />performed by the Lessee; (2) No further defaults shall accrue hereunder <br />during such extended period; and (3) the secured party forthwith takes <br />